EBS - Emergent Bio sees FY21 revenue as high as $2.05B provides preliminary 2020 results

Emergent BioSolutions (EBS) announces its financial forecast for 2021 and preliminary 2020 results.Total revenues for 2020 are expected to be in the range of $1,545M and $1,555M compared to prior guidance of $1,520M - $1,580M.Net Income of $295M - $310M vs. prior guidance of $255M - $285M.Adjusted EBITDA of $625M - 645M, $575M - $675M prior guidance.Adjusted Net Income of $415M - 430M vs. prior guidance of $375M - $405M.For FY 2021, the company projects Total Revenues of $1,950M - $2,050M.FY21 Adjusted EBITD and Adjusted Net Income of $750M - $810M and $475M - $525M, respectively. Gross margin for FY21 is expected to be ~65% on a GAAP basis.

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Emergent Bio sees FY21 revenue as high as $2.05B, provides preliminary 2020 results