Emergent Biosolutions earnings date
Emergent Biosolutions (ER4) Q3 2026 Earnings Report
DE:ER4 Q3 2026 EPS Results
- Actual EPS
- -EUR 0.32
- Consensus EPS
- -EUR 0.35
- Beat/Miss
- Beat by +EUR 0.03
- One Year Ago EPS
- EUR 0.95
DE:ER4 Q3 2026 Revenue Results
- Actual Revenue
- EUR 98.49M
- Expected Revenue
- EUR 110.32M
- Beat/Miss
- Missed by -EUR 11.83M
- YoY Revenue Growth
- -52.40%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/02/2026
- Time
- After Close
- Conference Call
- Monday, November 2, 2026
Emergent Biosolutions's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was generally positive, emphasizing strong year-to-date cash generation, debt reduction, cost-management actions, international MCM diversification, continued naloxone market leadership and progress on growth programs. These positives were tempered by a substantial year-over-year third-quarter revenue decline, negative quarterly adjusted EBITDA, competitive pricing and volume pressure in naloxone, an expected full-year MCM revenue decline and uncertainty around the timing of government and international deliveries.
Emergent now expects full year 2026 total revenues of $600 million to $645 million; MCM revenues are expected to decline versus the prior year based on the timing of remaining international MCM deliveries and U.S. government procurement, while Commercial revenue is currently tracking towards the lower end of the 20% to 25% range of revenue reduction versus 2025. The company expects adjusted gross margin of 45% to 47%, a 300 basis point improvement versus its August guidance, and adjusted EBITDA of $110 million to $140 million, with the upper end of the range consistent with the midpoint of its prior guidance. Restructuring actions are expected to generate approximately $40 million of annualized savings, with the initial impact becoming evident in the fourth quarter of 2026; some orders internationally and with the U.S. government may materialize this year or in the early part of next year.
- Third-Quarter Revenue Met GuidanceThird-quarter revenue was $110 million, within the company's guidance range, bringing year-to-date revenue to $500 million.
- Strong Year-to-Date Profitability and Cash GenerationYear-to-date adjusted EBITDA reached $128 million, representing a 25% margin, while operating cash flow was $122 million. Cash stood at $176 million and total liquidity was $226 million.
- Restructuring Expected to Generate Annualized SavingsEmergent implemented restructuring actions in August to improve efficiency and align resources with strategic priorities. The actions are expected to generate approximately $40 million of annualized savings, with the initial impact becoming evident in the fourth quarter of 2026.
- Cost Management ProgressExcluding $8 million of restructuring costs, third-quarter SG&A and R&D operating expenses were lower year-over-year, demonstrating effective cost management. Year-to-date operating expenses were $167 million, including $8 million of restructuring costs, compared with $176 million in the prior-year period.
- Debt Reduction and Balance Sheet ImprovementEmergent repurchased $75 million of unsecured bond principal for $68 million of cash. Gross debt was $514 million at September 30, 2026, compared with $693 million a year ago, while net debt was $339 million compared with $448 million. Since year-end 2023, gross debt declined by $354 million, or 41%, and net debt declined by $418 million, or 55%; net leverage decreased from approximately 16x to approximately 2.4x over that period.
- MCM Revenue Supported by CYFENDUS and TEMBEXA DeliveriesThe medical countermeasure business generated $59 million of third-quarter revenue, driven by an executed $24 million CYFENDUS contract modification and delivery of the product to the U.S. government within the quarter. Emergent also completed the majority of the TEMBEXA tablet delivery from a March 2026 U.S. government contract modification and has executed all 6 anticipated U.S. government contract modifications.
- International MCM DiversificationEmergent supplied a diverse mix of medical countermeasures to 13 countries, closed 19 sales during the quarter, and generated $72 million of international sales and product orders year-to-date, representing 22% of year-to-date MCM revenue.
- Naloxone Market Leadership and Expanded AccessNARCAN remains in a U.S. market-leading position, with KLOXXADO 8-milligram providing another option alongside NARCAN Nasal Spray. Emergent continues supporting states, law enforcement, harm reduction organizations, retail partners and workplaces to increase access for vulnerable populations.
- Canadian Naloxone Growth and Multiyear Government PathwayEmergent reported strong growth of NARCAN across Canada, and the government of Canada executed a standing offer that creates a multiyear pathway for NARCAN.
- Public Awareness and Education InitiativesEmergent is complementing naloxone access efforts with its Ready to Rescue campaign and college educational engagement to increase access, awareness and availability of NARCAN and KLOXXADO.
- Improved Full-Year Gross Margin GuidanceThe company raised its adjusted gross margin guidance to 45% to 47%, a 300 basis point improvement versus its August guidance. The change reflects operational improvements across the manufacturing network, product mix and recent stabilization of NARCAN pricing in the U.S. public interest channel.
- Canton Facility Restart Remains on TrackMilestones for restarting the Canton manufacturing facility remain on track, and Emergent said it celebrated the restart with local Commonwealth officials.
- Pipeline and Growth Programs AdvancingEmergent is progressing its pan-Ebola therapeutic program, evaluating a pan-flu vaccine opportunity, advancing work related to TEMBEXA, Ebanga and Raxibacumab, and selectively validating external opportunities that fit its capabilities and financial criteria.
- AI Partnerships and Biodefense CollaborationEmergent is progressing AI partnerships for clinical development work and engaging additional AI and machine-learning platforms for pipeline and growth opportunities. In August, it issued a call to cross-collaborate with AI leaders including Anthropic and OpenAI on threat detection and a preparedness framework.
- Share Repurchases ContinuedEmergent repurchased 2 million shares year-to-date for $18.1 million and ended the quarter with $37.3 million remaining under its share repurchase authorization.
- Leadership Transition Planned With ContinuityCFO Rich Lindahl plans to retire effective December 31, 2026. Frank Vargo will become Interim CFO on January 1, 2027, while Rich will remain a Senior Executive Adviser through March 31, 2027 to support the transition.
- ACAM2000 and TEMBEXA Positioned as a Smallpox Preparedness PortfolioEmergent said ACAM2000 remains an important single-dose smallpox vaccine for government stockpiles and that TEMBEXA provides a therapeutic component alongside ACAM2000 for preparedness needs.
DE:ER4 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 03, 2027 | 2026 (Q4) | -0.15- | -0.39 | ― | ― |
| Nov 02, 2026 | 2026 (Q3) | -0.35-0.32 | 0.95 | -133.96% (-1.27) | |
| Aug 05, 2026 | 2026 (Q2) | -0.080.54 | 0.14 | 275.00% (+0.39) | |
| Apr 30, 2026 | 2026 (Q1) | -0.220.19 | 0.64 | -70.42% (-0.45) | |
| Feb 26, 2026 | 2025 (Q4) | 0.10-0.39 | 0.04 | -960.00% (-0.43) | |
| Oct 29, 2025 | 2025 (Q3) | -0.110.95 | 1.23 | -22.63% (-0.28) | |
| Aug 06, 2025 | 2025 (Q2) | -0.440.14 | -2.08 | 106.90% (+2.22) | |
| May 07, 2025 | 2025 (Q1) | 0.390.64 | 0.53 | 20.34% (+0.11) | |
| Mar 03, 2025 | 2024 (Q4) | -0.450.04 | -0.69 | 106.49% (+0.73) | |
| Nov 06, 2024 | 2024 (Q3) | 0.091.23 | -0.48 | 353.70% (+1.71) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
