Embecta falls on forecast cut, initiatives review

Embecta

05/05/2026 12:43

** Shares of Embecta Corp EMBC.O fall 26% to $6.84 premarket

** The medical device maker lowers annual forecasts due to dynamics impacting U.S. business and the impending Owen Mumford acquisition

** Expects 2026 revenue of $1.02 billion-$1.04 billion, compared to prior forecast of 1.07 billion-$1.09 billion

** Sees adjusted profit per share of $1.55-$1.75, below prior range of $2.80-$3.00

** Q2 revenue of $221.8 million miss estimates of $235.57 million; adjusted profit per share of 27 cents come below est of 42 cents, per LSEG data

** CEO Devdatt Kurdikar says lowered outlook assumes that the dynamics that impacted U.S. business during Q2 will continue for the balance of the year

** Adds has initiated a review of co's cost structure and organizational footprint and expects to communicate findings and any resulting actions to investors once that process is complete

** Stock down 22% YTD

 (Reporting by Sriparna Roy in Bengaluru)

 ((Sriparna.Roy@thomsonreuters.com;))