Emergent BioSolutions Q2 revenue $254.7M, net loss $283.1M; updates FY2024 guidance

Emergent BioSolutions Inc.

2024-Q2 EPS reported -$5.23 revenue$555,100,000

Q2 revenue $254.7M (above guidance); net loss $283.1M ($5.38/diluted), adjusted EBITDA -$10.1M.
Bioservices services revenue $64.5M (+144% YoY) including $50M Janssen arbitration settlement; cost $211.6M with asset write-down.
Updated FY2024: total revenue $1,050-$1,125M (raised); net loss $(314)-$(274)M (wider); adj. EBITDA $140-$180M (raised).
Asset sales: $30M Baltimore-Camden site sale expected Q3 2024; $75M from RSDL sale to SERB; $50M Janssen dispute resolution.
Impairment $27.2M in Q2 vs $306.7M a year ago, related to Bayview and Rockville asset groups.

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