Embecta Corp. reported financial results for the first quarter of fiscal year 2025, with total revenues of $261.9 million, a decrease of 5.6% on a reported basis and 4.8% on an adjusted constant currency basis. U.S. revenues decreased by 4.6%, while international revenues fell by 6.6% on a reported basis.

Gross profit was $157.1 million, reflecting a margin of 60.0%, down from $185.9 million and a margin of 67.0% in the prior year. Adjusted gross profit was $164.2 million, with a margin of 62.7%. Operating income decreased to $28.7 million, with an operating margin of 11.0%, compared to $45.5 million and 16.4% in the prior year.

Net income for the quarter was essentially break-even, with earnings per diluted share at $0.00, down from $20.1 million and $0.35 per share in the previous year. However, adjusted net income increased to $38.3 million, or $0.65 per share, compared to $35.3 million and $0.61 per share in the prior year. Adjusted EBITDA rose to $97.3 million, representing a margin of 37.2%, compared to $90.4 million and 32.6% in the prior year.

Embecta also announced a quarterly dividend of $0.15 per share. Looking ahead, the company is progressing with its restructuring plan and brand transition, with plans to share a long-term strategy and multi-year financial outlook during its Investor and Analyst Day in May 2025.