Embecta tumbles after swinging to Q4 loss

Embecta

20/12/2022 15:28

** Shares of Embecta Corp  EMBC.O , which makes diabetes
therapy equipment, plunge 19.6% to $26.1 
    ** Stock hits lowest in nearly five months
    ** Co reports a Q4 net loss of $17.2 mln, compared to net
income of $97.1 mln last year  urn:newsml:reuters.com:*:nGNX1jnVrv
    ** EMBC also forecasts FY 2023 revenue between $1.05 bln and
$1.07 bln, compared to $1.13 bln a year earlier
    ** Co says its 2022 revenue was hit by strengthening of
dollar and unfavourable changes to estimated sales deductions in
the U.S
    ** Up to last close, stock had fallen 30.9% this year
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))