Emergent BioSolutions Earnings: Here’s Why the Stock is Rising Now
Emergent BioSolutions, Inc. (NYSE:EBS) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.44%.
Emergent BioSolutions, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.22 in the quarter versus EPS of $-0.19 in the year-earlier quarter.
Revenue: Decreased 14.33% to $43.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Emergent BioSolutions, Inc. reported adjusted EPS loss of $0.22 per share. By that measure, the company missed the mean analyst estimate of $-0.14. It missed the average revenue estimate of $46.17 million.
Quoting Management: Daniel J. Abdun-Nabi, president and chief executive officer of Emergent BioSolutions, stated, “Our first quarter financial performance was in line with expectations. Moreover, year-to-date we have achieved significant progress in our business including making strides toward approval of BioThrax manufacturing in Building 55, as well as signing an agreement to acquire HPPD, a profitable business with a revenue-generating, FDA-cleared product in a growing and attractive market.”
Key Stats (on next page)…