Embecta Corp. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Embecta Corp. (EMBC) reported a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $23.5 million, or $0.40 per share. This compares with $28.9 million, or $0.50 per share, last year.

Excluding items, Embecta Corp. reported adjusted earnings of $40.7 million or $0.70 per share for the period.

Analysts on average had expected the company to earn $0.59 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 9.8% to $259.0 million from $287.2 million last year.

Embecta Corp. earnings at a glance (GAAP) :

-Earnings: $23.5 Mln. vs. $28.9 Mln. last year. -EPS: $0.40 vs. $0.50 last year. -Revenue: $259.0 Mln vs. $287.2 Mln last year.

-Guidance: Full year revenue guidance: $1,073 - $1,090 Mln