$EMBC

Embecta Corp.

CIK:0001872789|SEC Filings

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 271.7	$ 295.5	$ 754.7	$ 816.4
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]	Product [Member]
Cost of products sold	$ 118.4	$ 98.4	$ 311.9	$ 298.1
Cost, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]	Product [Member]
Gross Profit	$ 153.3	$ 197.1	$ 442.8	$ 518.3
Operating expenses:
Selling and administrative expense	78.6	84.4	232.4	245.1
Research and development expense	5.6	4.4	15.6	32.7
Other operating expense, net	20.4	14.3	27.8	54.9
Total Operating Expenses	104.6	103.1	275.8	332.7
Operating Income	48.7	94.0	167.0	185.6
Interest expense, net	(23.9)	(26.6)	(70.6)	(81.2)
Other income (expense), net	2.8	4.8	(0.4)	2.9
Income Before Income Taxes	27.6	72.2	96.0	107.3
Income tax provision	6.5	26.7	34.9	38.3
Net Income	$ 21.1	$ 45.5	$ 61.1	$ 69.0
Net Income per common share:
Basic (in dollars per share)	$ 0.36	$ 0.78	$ 1.04	$ 1.18
Diluted (in dollars per share)	$ 0.36	$ 0.78	$ 1.03	$ 1.18

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net Income	$ 61.1	$ 69.0
Adjustments to net income to derive net cash provided by operating activities:
Depreciation and amortization	31.1	27.6
Amortization of inventory step-up	1.9	0.0
Amortization of debt issuance costs	5.2	6.5
Impairment of property, plant and equipment	0.5	10.6
Gain on sale of certain intellectual property rights and long-lived assets	(10.1)	0.0
Amortization of cloud computing arrangements	7.8	7.8
Stock-based compensation	15.8	22.1
Deferred income taxes	12.1	11.9
Change in operating assets and liabilities:
Trade receivables, net	(20.8)	11.7
Inventories	(7.3)	(11.3)
Due from/due to Becton, Dickinson and Company	0.0	19.8
Prepaid expenses and other	(6.1)	2.6
Accounts payable, accrued expenses and other current liabilities	1.1	(57.2)
Income and other net taxes payable	(3.6)	(16.9)
Other assets and liabilities, net	1.4	3.5
Net cash provided by operating activities	90.1	107.7
Investing Activities
Capital expenditures	(2.2)	(2.0)
Owen Mumford acquisition, net of cash acquired	(128.4)	0.0
Proceeds from the sale of certain intellectual property rights and long-lived assets	10.1	0.0
Net cash used for investing activities	(120.5)	(2.0)
Financing Activities
Payments on long-term debt	(77.4)	(112.2)
Proceeds on drawdown of revolving credit facility	180.0	0.0
Payments on revolving credit facility	(50.1)	0.0
Payments related to tax withholding for stock-based compensation	(4.9)	(5.7)
Payments on finance lease	(1.2)	(1.0)
Dividend payments	(18.4)	(26.2)
Repurchases of common stock	(8.7)	0.0
Net cash provided by (used for) financing activities	19.3	(145.1)
Effect of exchange rate changes on cash and equivalents and restricted cash	0.7	(1.2)
Net Change in Cash and equivalents and restricted cash	(10.4)	(40.6)
Opening Cash and equivalents and restricted cash	228.6	274.2
Closing Cash and equivalents and restricted cash	$ 218.2	$ 233.6

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025
Current Assets
Cash and equivalents	$ 214.7	$ 225.5
Restricted cash	3.5	3.1
Trade receivables, net (net of allowance for doubtful accounts of $2.6 million and $1.8 million as of June 30, 2026 and September 30, 2025, respectively)	182.2	145.6
Inventories:
Materials	64.3	50.0
Work in process	22.2	11.7
Finished products	127.7	116.9
Total Inventories	214.2	178.6
Amounts due from Becton, Dickinson and Company	0.0	3.3
Prepaid expenses and other	90.5	75.3
Total Current Assets	705.1	631.4
Property, Plant and Equipment, Net	316.8	257.2
Intangible Assets, net	47.5	7.0
Goodwill	39.9	15.4
Deferred Income Taxes and Other Assets	156.0	179.9
Total Assets	1,265.3	1,090.9
Current Liabilities
Accounts payable	90.5	74.2
Accrued expenses	138.6	98.9
Amounts due to Becton, Dickinson and Company	0.0	16.3
Salaries, wages and related items	41.4	49.4
Current debt obligations	139.4	9.5
Current finance lease liabilities	3.5	3.4
Income taxes	6.4	9.8
Total Current Liabilities	419.8	261.5
Deferred Income Taxes and Other Liabilities	115.1	62.6
Long-Term Debt	1,315.7	1,388.7
Non Current Finance Lease Liabilities	27.4	28.7
Contingencies (Note 7)
Embecta Corp. Equity
Common stock, $0.01 par value Authorized - 250,000,000 Issued and outstanding - 56,659,599 as of June 30, 2026 and 58,496,113 as of September 30, 2025	0.6	0.6
Additional paid-in capital	83.6	80.0
Accumulated deficit	(404.3)	(445.6)
Accumulated other comprehensive loss	(292.6)	(285.6)
Total Equity	(612.7)	(650.6)
Total Liabilities and Equity	$ 1,265.3	$ 1,090.9