Embecta Corp. (EMBC): restructuring charge — Embecta Q4 beats; discontinues patch pump; restructuring saves $60-65M annually; FY2025 EPS guidance $2.70-2.90

Embecta Corp.

2024-FY EPS reported $1.34 revenue$1,123,100,000

Q4 reported rev $286.1M (+1.5%), GAAP EPS $0.25, adjusted EPS $0.45.
FY2024 rev $1,123.1M (+0.2%), adjusted EPS $2.45, GAAP EPS $1.34.
Discontinues insulin patch pump; expects $35-45M pre-tax charges in FY2025; annualized savings $60-65M.
FY2025 guidance: rev $1,093-1,110M, adjusted EPS $2.70-2.90, adj. EBITDA margin 35.5-36.5%.
Board declares $0.15/share dividend payable Dec 18, 2024 to holders of record Dec 6, 2024.

item 2.02 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Embecta Corp. announced a impairment with charges of approximately $10 million - $15 million of additional pre-tax non-cash charges related to asset impairments and asset write-offs affecting patch pump program.

Type: impairment
Charge: approximately $10 million - $15 million of additional pre-tax non-cash charges related to asset impairments and asset write-offs
Affected area: patch pump program

Exact text from the filing

Additionally, the Company estimates that it will incur approximately $10 million - $15 million of additional pre-tax non-cash charges related to asset impairments and asset write-offs.

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Embecta Corp. announced a restructuring with charges of approximately $25 million - $30 million in pre-tax cash-based charges affecting patch pump program.

Type: restructuring
Charge: approximately $25 million - $30 million in pre-tax cash-based charges
Affected area: patch pump program

Exact text from the filing

its plans to manufacture and commercialize the insulin delivery system, including the previous intended limited launch. The Company estimates that it will incur approximately $25 million - $30 million in pre-tax cash-based charges primarily associated with employee severance payments and benefits related to the workforce reduction. The Company also expects that

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Embecta Corp. filing history →

Source: SEC EDGAR

accession 0001872789-24-000031

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