Emergent BioSolutions Inc. — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 68/100
What the filing says
Emergent BioSolutions reported Q3 2026 revenues of $110.0M (down 52% from $231.1M in Q3 2025), driven by timing of USG MCM deliveries and naloxone sales declines. Net loss was $32.7M (vs. $51.2M profit prior year); adjusted EBITDA turned negative at ($4.6M) vs. $92.6M. YTD 2026 net loss widened to ($206.1M), including a $191.3M non-cash impairment. Company revised FY 2026 guidance downward: revenues now $600–645M (prior $645–675M), adjusted EBITDA $110–140M (prior $130–150M), and net loss ($255)–($225)M. CFO Rich Lindahl retires 12/31/26. Debt reduced by $75M repurchase; net leverage improved to 2.4x.
Why this rating
Significant revenue contraction and profitability collapse relative to ~$343M market cap; guidance cuts material. Turnaround execution at risk.
See more from November 2, 2026.
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