Embecta reports Q1 adjusted EPS 61c, consensus 45c

Reports Q1 revenue $277.3M, consensus $264.91M. “Building on our performance during 2023, embecta delivered strong results for the first quarter of 2024,” said Devdatt Kurdikar, CEO of embecta. “During the first quarter, I am pleased to report that we transitioned approximately sixty percent of our revenue to our own ERP system, shared service capability and distribution infrastructure, while delivering financial results that exceeded our expectations. Importantly, we also made progress on our strategic priorities, including the 510(k) filing of our open-loop patch pump with the FDA. Given our performance during the first quarter, coupled with our outlook for the remainder of the year, we are raising our guidance for certain key financial reporting metrics.”