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Embecta (EMBC) Q3 FY2022 earnings: revenue $291 million, down 1.3% on the year

Embecta Corp. (EMBC) reported revenue of $291 million for Q3 FY2022, the quarter ended 30 June 2022, down 1.3% on the same quarter a year earlier as this quarter's filing gives it. Net income was $62 million, down 40.4% on the year as this quarter's filing gives it, and diluted earnings per share $1.07. The figures are the company's own, from the 10-Q it filed with the SEC on 15 August 2022.

Revenue$291 milliondown 1.3% on the year
Net income$62 milliondown 40.4% on the year
Diluted EPS$1.07
QuarterQ3 FY2022ended 30 June 2022

The quarter, against the one before and a year earlier

LineQ3 FY2022Q2 FY2022A year earlierChange on the year
Revenue291274n/an/a
Cost of revenue88.283.3n/an/a
Gross profit203191n/an/a
Gross margin69.7%69.7%n/a
Research and development14.318.0n/an/a
Selling, general and administrative83.866.9n/an/a
Operating income97.198.9n/an/a
Operating margin33.4%36.0%n/a
Interest expensen/a4.9n/an/a
Pre-tax income73.693.9n/an/a
Income tax11.214.3n/an/a
Effective tax rate15.2%15.2%n/a
Net income62.479.6n/an/a
Net margin21.4%29.0%n/a
Diluted EPS$1.07$1.38n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2022Q2 FY2022A year earlierChange on the year
Operating cash flow32.8183n/an/a
Capital expenditure5.35.4n/an/a
Free cash flow27.5177n/an/a
Free cash flow margin9.4%64.6%n/a
Cash from investing-5.3-5.8n/an/a
Cash from financing3.390.3n/an/a
Depreciation and amortisation9.16.7n/an/a
Share-based compensation5.83.9n/an/a
Dividends paid0.0n/an/an/a
Diluted shares, weighted58m58mn/an/a
Shares outstanding at period end58m58mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2022Q2 FY2022A year earlierChange on the year
Shareholders' equity-848-968n/an/a
Debt1,6091,610n/an/a
Operating lease liabilities3.9n/an/an/a
Finance lease liabilities32.9n/an/an/a
Other liabilities252191n/an/a
Total liabilities and equity1,050834n/an/a
Fixed assetsn/a356n/an/a
Goodwill15.715.7n/an/a
Intangible assets9.319.0n/an/a
Cash and equivalents292264n/an/a
Receivables22.215.2n/an/a
Inventory130122n/an/a
Other assets58041.2n/an/a
Total assets1,050834n/an/a

Questions

What was Embecta's revenue in Q3 FY2022?

Embecta (EMBC) reported revenue of $291 million for Q3 FY2022, the quarter ended 30 June 2022, down 1.3% on the same quarter a year earlier as the company restated it.

How much did Embecta earn in Q3 FY2022?

Net income for Q3 FY2022 was $62 million, down 40.4% on the year, and diluted earnings per share $1.07.

When did Embecta report Q3 FY2022 results?

Embecta filed its 10-Q for the quarter ended 30 June 2022 with the SEC on 15 August 2022.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue301289274291275276277286282277287272286262259296264261222272
Cost of revenue90.685.483.388.297.786.987.396.610091.410282.411210594.998.410699.594.0118
Gross profit210204191203177189190190182186185190174157164197158162128153
Gross margin70%70%70%70%64%68%68%66%64%67%65%70%61%60%63%67%60%62%58%56%
R&D19.516.718.014.317.916.922.122.623.620.218.420.419.820.38.04.44.64.65.45.6
SG&A70.862.266.983.881.972.885.287.695.790.392.385.796.881.179.684.486.977.676.278.6
Operating income11711798.997.1-3.088.855.651.325.845.539.255.926.228.762.994.056.583.335.048.7
Operating margin39%40%36%33%-1%32%20%18%9%16%14%21%9%11%24%32%21%32%16%18%
Interest expensen/an/a4.9n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Pre-tax income11611793.973.6-27.556.124.520.15.014.39.927.0-7.0-0.735.872.229.058.99.527.6
Tax rate17%15%15%15%n/a37%43%24%-20%-41%-192%46%n/an/a34%37%9%25%143%24%
Net income96.998.879.662.4-17.235.214.015.26.020.128.914.714.60.023.545.526.444.1-4.121.1
Net margin32%34%29%21%-6%13%5%5%2%7%10%5%5%0%9%15%10%17%-2%8%
Diluted EPSn/a$1.73$1.38$1.07-$0.30$0.61$0.24$0.26$0.10$0.35$0.50$0.25$0.25$0.00$0.40$0.78$0.45$0.74-$0.07$0.36
Operating cash flow85.513918332.858.060.4-13.0-9.329.6-13.124.3-2.126.6-5.331.881.284.017.231.141.8
Capital expenditure12.84.35.45.38.64.75.86.89.22.73.49.70.01.50.10.47.30.60.51.1
Free cash flow72.713417727.549.455.7-18.8-16.120.4-15.820.9-11.826.6-6.831.780.876.716.630.640.7
Dividends paid0.0n/an/a0.0n/a0.017.28.68.68.68.68.68.78.88.78.78.88.98.90.6
Shares outstanding57m57m58m58m57m57m57m57m57m58m58m58m58m58m58m58m58m59m59m57m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2022, filed 15 August 2022: the filing.