Vaccine Maker Emergent BioSolutions Expects Deeper Losses In 2024, Stock Sinks
Portfolio Pulse from Vandana Singh
Emergent BioSolutions Inc. (NYSE:EBS) reported a significant decline in second-quarter 2024 sales and a deeper-than-expected adjusted EPS loss. Despite beating revenue expectations, the company updated its 2024 guidance to reflect higher losses and slightly increased revenue projections. The stock fell 38.5% following the announcement.
August 07, 2024 | 3:47 pm
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Emergent BioSolutions reported a 25% decline in Q2 2024 sales and a significant adjusted EPS loss, missing consensus estimates. The company updated its 2024 guidance to reflect higher losses and slightly increased revenue projections. The stock fell 38.5% following the announcement.
The significant decline in sales and deeper-than-expected losses, coupled with the updated guidance reflecting higher losses, have negatively impacted investor sentiment, leading to a 38.5% drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100