Embecta Corp. Files Q1 2025 10-Q
Ticker: EMBC · Form: 10-Q · Filed: Feb 6, 2025 · CIK: 1872789
| Field | Detail |
|---|---|
| Company | Embecta CORP. (EMBC) |
| Form Type | 10-Q |
| Filed Date | Feb 6, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, earnings, financials
TL;DR
Embecta's Q1 2025 10-Q is in. Check financials.
AI Summary
Embecta Corp. filed its 10-Q for the period ending December 31, 2024. The company reported its financial results for the first quarter of fiscal year 2025. Specific financial figures and operational details are contained within the filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Embecta Corp., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.
Key Numbers
- 20241231 — Fiscal Year End (Reporting period end date)
- 20250206 — Filing Date (Date the 10-Q was submitted)
Key Players & Entities
- Embecta Corp. (company) — Filer of the 10-Q
- 20241231 (date) — End of the reporting period
- 20250206 (date) — Filing date
- Berra Newco, Inc. (company) — Former company name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended December 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on February 6, 2025.
What was Embecta Corp.'s former name?
Embecta Corp.'s former name was Berra Newco, Inc.
What is Embecta Corp.'s Standard Industrial Classification code?
Embecta Corp.'s Standard Industrial Classification code is 3841, for Surgical & Medical Instruments & Apparatus.
What is the fiscal year end for Embecta Corp.?
Embecta Corp.'s fiscal year ends on September 30.
Filing Stats: 4,609 words · 18 min read · ~15 pages · Grade level 9.7 · Accepted 2025-02-06 12:25:50
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share EMBC The Nasdaq Stock Market
Filing Documents
- embc-20241231.htm (10-Q) — 848KB
- q1202510qexhibit311.htm (EX-31.1) — 10KB
- q1202510qexhibit312.htm (EX-31.2) — 10KB
- q1202510qexhibit321.htm (EX-32.1) — 4KB
- q1202510qexhibit322.htm (EX-32.2) — 4KB
- embc-20241231_g1.jpg (GRAPHIC) — 33KB
- 0001872789-25-000006.txt ( ) — 5892KB
- embc-20241231.xsd (EX-101.SCH) — 49KB
- embc-20241231_cal.xml (EX-101.CAL) — 92KB
- embc-20241231_def.xml (EX-101.DEF) — 179KB
- embc-20241231_lab.xml (EX-101.LAB) — 532KB
- embc-20241231_pre.xml (EX-101.PRE) — 372KB
- embc-20241231_htm.xml (XML) — 799KB
Financial Information
Part I. Financial Information 1
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 1 Condensed Consolidated Statements of Income 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 27
Controls and Procedures
Item 4. Controls and Procedures 28
Other Information
Part II. Other Information 29
Risk Factors
Item 1A. Risk Factors 29
Exhibits
Item 6. Exhibits 29
Signatures
Signatures 30 -i- Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. Condensed Consolidated Statements of Income Embecta Corp. (Unaudited) Three Months Ended December 31, 2024 2023 Revenues $ 261.9 $ 277.3 Cost of products sold 104.8 91.4 Gross Profit $ 157.1 $ 185.9 Operating expenses: Selling and administrative expense 81.1 90.3 Research and development expense 20.3 20.2 Other operating expenses 27.0 29.9 Total Operating Expenses $ 128.4 $ 140.4 Operating Income $ 28.7 $ 45.5 Interest expense, net ( 27.9 ) ( 27.7 ) Other income (expense), net ( 1.5 ) ( 3.5 ) (Loss) Income Before Income Taxes $ ( 0.7 ) $ 14.3 Income tax (benefit) ( 0.7 ) ( 5.8 ) Net Income $ — $ 20.1 Net Income per common share: Basic $ — $ 0.35 Diluted $ — $ 0.35 See notes to the Unaudited Condensed Consolidated Financial Statements. Dollar amounts are in millions except per share amounts or as otherwise specified. 1 Table of Contents Condensed Consolidated Statements of Comprehensive Income Embecta Corp. (Unaudited) Three Months Ended December 31, 2024 2023 Net Income $ — $ 20.1 Other Comprehensive (Loss) Income, net of tax Foreign currency translation adjustments ( 26.9 ) 11.6 Other Comprehensive (Loss) Income $ ( 26.9 ) $ 11.6 Comprehensive (Loss) Income $ ( 26.9 ) $ 31.7 See notes to the Unaudited Condensed Consolidated Financial Statements. Dollar amounts are in millions except per share amounts or as otherwise specified. 2 Table of Contents Condensed Consolidated Balance Sheets Embecta Corp. December 31, 2024 September 30, 2024 (Unaudited) Assets Current Assets Cash and equivalents $ 210.0 $ 267.5 Restricted cash 6.7 6.7 Trade receivables, net (net of allowance for doubtful accounts of $ 2.7 million and $ 2.8 million as of December 31, 2024 and September 30, 2024, respectively) 180.9 193.0 Inventories: Materials 39.4 40.4 Work in process 9.5 4.8 Finished products 120.2 126.3 Total Inventories $ 169.1 $ 171.5 Amounts due from Becton, Dickinson and Company 39