Emergent BioSolutions Inc. (EBS) Earnings
Emergent BioSolutions Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $-0.09. EBS has beaten EPS estimates in 6 of its last 8 reported quarters (average surprise +362.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $-0.25 | $0.21 | +184.0% | $156M | +7.7% |
| Oct 29, 2025 | $-0.12 | $1.06 | +983.3% | $231M | +6.3% |
| Mar 3, 2025 | $-0.35 | $0.05 | +114.3% | $189M | -32.2% |
| May 1, 2024 | $-0.86 | $0.59 | +168.6% | $300M | +58.1% |
| Mar 6, 2024 | $-0.33 | $-0.77 | -133.3% | $277M | -5.8% |
| Dec 11, 2023 | — | $-1.76 | — | $331M | — |
| Feb 27, 2023 | — | $-1.76 | — | $331M | — |
| Apr 28, 2022 | — | $-0.07 | — | $308M | — |
| Feb 24, 2022 | $4.27 | $4.50 | +5.4% | $723M | +8.1% |
| Nov 4, 2021 | — | $-0.65 | — | $329M | — |
| Jul 29, 2021 | $1.81 | $0.33 | -81.8% | $398M | +0.0% |
| Apr 29, 2021 | $1.12 | $1.53 | +36.6% | $343M | -8.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Joe Papa discussed the company's leadership in public health preparedness, business performance, and key highlights. • Rich Lindahl reviewed Q1 2026 financial results, updated full year 2026 guidance. • Since 2024, the company has stabilized and right-sized, investing in high-growth opportunities. • In Q1 2026, reported first order revenue of $156 million, exceeded guidance range. • Network capital improved by over $100 million since Q1 2025. • Refinanced prior term loan, amended revolver, established new delayed draw term loan facility. • Continued share repurchase program, buying back $9 million in shares in Q1. • MCM business had increased global demand and 37% of revenue from international market. • Naloxone business had new product launches and maintained market leadership. • Expanded Canton manufacturing site in Massachusetts with strategic partnerships.
Guidance
• Maintaining full-year total revenue guidance of $720 million to $760 million. • Commercial revenues expected to be flat to slightly up. • NCM revenues consistent with prior guidance, flat to slightly down with significant international sales contribution. • Adjusted gross margin expected to be between 45% and 47%. • Updating adjusted EBITDA guidance to $155 to $175 million due to adding back non-cash stock compensation. • Expecting second quarter total revenue to be between $170 billion and $185 billion.
Segment performance
MCM performed well with increased global demand and international market representing 37% of total MCM revenue. Naloxone business maintained shared leadership, with new product offerings like the Narchia Navel Spray Carrying Case and multi-pack configuration performing well. Total revenue for Q1 2026 was $156 million, Adjusted EBITDA was $136 million with a 23% margin. Net debt reduced by approximately 22% in 2025, cash balance improved by $11 million to $160 million, total liquidity increased to $260 million.
Risks & headwinds
• Forward-looking statements are based on current intentions, beliefs, and expectations, and Emergent does not undertake to update them. • Investors should consider risk factors identified in periodic reports filed with the SEC when evaluating forward-looking statements. • The company needs to consider market dynamics, competition, and potential changes in government contracts and funding which could impact financial performance.
Analyst Q&A
Q: Question on longer-term perspective on Naloxone franchise.
A: Excited about new innovations, international upside, seasonality, market growth due to opioid overdoses, federal government funding, and class action settlements.
Q: Question on margin of international MCM sales compared to U.S. legacy MCM business.
A: U.S. government has most favored nation pricing, international sales have higher prices and margins.
Q: Question on tie-up with SAB and strategic shift.
A: Alignment of technology capabilities, not a broader therapeutic area shift.
Q: Question on geopolitical situation and international demand for MCM products.
A: Dangerous world with concern for bioterrorism, important to be prepared with U.S. and global governments.
Q: Question on manufacturing footprint.
A: Streamlined footprint, ability to source products, ramping up Canton facility for drug substance capabilities.
Q: Question on international opportunities and backlog.
A: Ongoing discussions on international opportunities, some projects take time, international sales have higher margins.
Q: Question on accrued acquisition obligation.
A: Related to IBANGA program, cash outflow expected in second quarter.