EBS - Emergent plunges 30% on quarterly earnings miss lowers full-year guidance
- Emergent BioSolutions ( NYSE: EBS ) is trading ~30% lower after the company missed Q3 estimates and lowered its full-year guidance, hurt by lower sales of Nasal naloxone products, ACAM2000.
- For Q3 , revenues from nasal naloxone products decreased 34% Y/Y to $45.4M, the decrease was driven by a reduction in commercial retail sales following the launch of a generic in Dec. 2021.
- Revenues from ACAM2000 decreased 39% Y/Y to $31.7M, due to a lower number of doses sold to the U.S. government.
- Revenue fell 27.1% Y/Y to $240M, which missed by $26.35M. While, Q3 Non-GAAP EPS of -$1.27 missed by $1.14.
- Total Revenues $1.05B to $1.1B from prior total revenue outlook of $1.15B to $1.25B vs. consensus of $1.19B.
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Emergent plunges 30% on quarterly earnings miss, lowers full-year guidance