earnings
confidence high
sentiment positive
materiality 0.75
Emergent Q1 rev $300M, net income $9M; raises FY2024 adj EBITDA guidance to $125-175M
Emergent BioSolutions Inc.
2024-Q1 EPS reported
$0.17
revenue$300,400,000
- Q1 2024 total revenues $300.4M (up 83% YoY), net income $9.0M vs loss of $186.2M last year.
- Adjusted EBITDA $66.9M vs $(101.5)M; adjusted EPS $0.59 vs $(3.26).
- FY2024 guidance raised: total rev $1.0-1.1B, adj EBITDA $125-175M, adj net loss $(65)-(15)M.
- ASPR contract modification reduces minimum purchase from 9M to 3.5M doses annually for Option Years 5-9; max contract value revised to $1.4B.
- NARCAN sales up 18% to $118.5M; MCM segment gross margin improved to 60%.