Embecta Sinks As Outlook Comes In Below Consensus

(RTTNews) - Shares of diabetes care company Embecta Corp. (EMBC) are falling more than 12 percent Friday morning after the company provided full-year profit outlook below the Street view.

Embecta now expects adjusted profit in the range of $1.95 - $2.15 for the full year. Analysts on average, polled by Thomson-Reuters expects the company to report earnings of $2.22 per share.

Revenue for the full year is expected in the range of $1.094 billion - $1.116 billion. This compares with the consensus estimate of $1.1 billion for the year.

EMBC is at $15.48 currently. It has traded in the range of $12.72 - $33.88 in the last 1 year.