Spin-off - Embecta Corp.
Form Type: 10-Q
Filing Date: 2025-02-06
Corporate Action: Spin-off
Type: Update
Accession Number: 000187278925000006
Filing Summary: Embecta Corp. filed a quarterly report for the period ending December 31, 2024, detailing financial performance and operations after its spin-off from Becton, Dickinson and Company. The report highlights key metrics, including revenues of $261.9 million, a decrease from $277.3 million in the prior year, and a net income of $0, compared to $20.1 million in the previous year. The company's gross profit declined to $157.1 million, impacted by increased cost of products sold and operating expenses totaling $128.4 million. Operating income was $28.7 million, significantly lower than the $45.5 million reported a year earlier. The report also outlines changes in assets and liabilities, including a total assets figure of $1,149.5 million and total liabilities of $1,918.3 million, resulting in an equity position of $(768.8) million. Additionally, the quarterly financials reflect costs related to a restructuring plan as the company moves away from its patch pump program, with an expected total restructuring cost between $35 million and $45 million. Restructuring activities and the implications of the separation from BD are noted, highlighting ongoing transitions in operations and financial management.
Additional details:
Shares Outstanding: 58134434
Total Assets: 1149.5
Total Liabilities: 1918.3
Total Equity: -768.8
Operating Income: 28.7
Net Income: 0
Revenue: 261.9
Form Type: 8-K
Filing Date: 2024-03-28
Corporate Action: Spin-off
Type: New
Accession Number: 000187278924000010
Filing Summary: This document concerns a spin-off as it discusses agreements related to the transition services established during the spin-off of the diabetes care business from BD to Embecta.
Additional details:
Newco Cik: 1872789
Parent Cik: 1872789
File Number: 001-41186
:
Effective Date: 2024-03-28
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