Plus   Neg

Stock Alert: Emergent BioSolutions Climbs 12% On Quarterly Results, Outook

Shares of Emergent BioSolutions Inc. (EBS) are rising more than 12% Friday morning on positive earnings surprise in the second quarter. The company also raised its full-revenue outlook, better than analysts' view.

For the second quarter, the company recorded adjusted net income of $105.7 million, or $1.98 per share, versus $10.2 million, or $0.20 per share a year ago, and compared with $0.68, expected by the analysts polled by Thomson Reuters.

Revenue for the quarter increased to $394.7 million from $243.2 million last year.

For the third quarter, the company forecasts revenues between $420 million and $450 million. The consensus estimate is at $420.17 million.

For the full year, Emergent has raised its revenue outlook to the range of $1.5 billion - $1.6 billion from the previous view of $1.175 billion - $1.275 billion. Analysts see revenue of $1.39 billion for the year.

Last week, Emergent had signed an agreement worth $174 million to provide contract development and manufacturing (CDMO) services for large-scale commercial manufacturing for AstraZeneca's COVID-19 vaccine candidate, AZD1222.

For comments and feedback contact: editorial@rttnews.com

Business News

Get Access to Premium Stock Alerts with RTT Biotech Investor.
Editors Pick
Walt Disney World, the Orlando, Florida-based entertainment complex, is easing the health safety guidelines that were rolled out to prevent the spread of the ongoing COVID-19 pandemic. The complex is ending temperature checks in a phased manner following the advice of the Centers for Disease Control and Prevention (CDC) and local health officials. Frito-Lay North America, the convenient foods division of food and beverages giant PepsiCo, Inc., is recalling select Ruffles All Dressed Potato Chips citing the possible presence of undeclared milk ingredients, a known allergen, the U.S. Food and Drug Administration said. According to the agency, the recalled products may have distributed regionally to Walmart's Sam's Club Warehouses. Pfizer Inc. (PFE) and BioNTech SE (BNTX) announced Friday that they have initiated the Biologics License Application (BLA) process with the U.S. Food and Drug Administration (FDA) for approval of their mRNA vaccine to prevent COVID-19 in individuals 16 years of age and older. The companies initiated...
Follow RTT