Emergent BioSolutions prelim results, guidance

 

• Expects a re-baseline of operations with stable revenue contributions from core products and services business in 2022, guiding to total revenues of $1.45 billion at the midpoint and Adjusted EBITDA margin of 21.5% at the midpoint

• Reports preliminary 2021 total revenues of $1.78 billion at the midpoint and Adjusted EBITDA of $513 million, or 29%, at the midpoint, both in line with prior guidance given in November 2021

The Company is providing the following preliminary, unaudited financial results for full year 2021.

(in millions)	PRELIMINARY 2021 RESULTS (January 9, 2022)	PRIOR 2021 GUIDANCE (November 4, 2021)
Total Revenues	$1,770 - $1,790	$1,700 - $1,800
Net Income	$260 - $280	$260 - $295
Adjusted EBITDA (1)	$500 - $525	$500 - $550
Adjusted Net Income (1)	$315 - $335	$315 - $350

2022 FINANCIAL GUIDANCE

The Company is providing the following guidance of selected financial metrics for full year 2022.

(in millions)	FULL YEAR 2022 (As of January 9, 2022)
Total Revenues	$1,400 - $1,500
Adjusted EBITDA (1)	$280 - $340
Adjusted Net Income (1)	$135 - $180
Gross Margin %	47% - 51%
Product/Service Level Revenue
• Anthrax Vaccines	$280 - $300
• ACAM2000®	$190 - $210
• Nasal Naloxone Products*	$240 - $310
• CDMO Services	$430 - $480
• Other Products and Contracts and Grants	$200 - $260

* Includes revenues from the Company's branded NARCAN® Nasal Spray and revenues related to the authorized generic of NARCAN® Nasal Spray, a product licensed to Sandoz AG and launched in late 2021.

PRESENTATION WEBCAST
The Company will provide an update on the current business and discuss preliminary 2021 unaudited financial results, the financial guidance for 2022, and long-term goals during its presentation at the 40th Annual J.P. Morgan Healthcare Conference on January 10, 2022 at 8:15 AM Eastern time.

A live webcast of the presentation can be accessed through Emergent’s website. An on-demand replay of the webcast can also be accessed in the investors section after the presentation has concluded.

https://finance.yahoo.com/news/emergent-biosolutions-announces-2022-financial-190000094.html