Earnings Releases·Nov 2, 2026, 4:06 PM ET

Emergent BioSolutions — Third Quarter 2026 Earnings Summary

**Financial Performance:** Q3 2026 revenue fell 52% to $110.0 million (vs. $231.1 million in Q3 2025), resulting in a net loss of $32.7 million compared to net income of $51.2 million; gross margin contracted to 14% from 54% year-over-year.
**Guidance Revision:** Full-year 2026 revenue guidance was lowered to $600–$645 million (from $645–$675 million), while adjusted net income guidance shifted from a $10–$30 million profit to a $(10)–$20 million loss.
**Strategic Actions:** The company repurchased $75 million of Senior Unsecured Notes and announced the retirement of CFO Rich Lindahl effective December 31, 2026, with Frank Vargo serving as interim CFO.
**Segment Trends:** MCM Products revenue dropped 58% to $59.4 million due to lower USG sales of ACAM2000® and CNJ-016®, while Naloxone sales declined 42% to $43.5 million amid generic competition.