Gracia Mahoney's questions to Embecta Corp (EMBC) leadership • Q3 2025
Question
Gracia Mahoney, on behalf of Bank of America, asked about the sustainability of Embecta's strong free cash flow generation and its potential to create upside to the long-range plan. She also inquired about the impact of recent pharmacy store closures on US performance and whether a broader trend is visible for 2026.
Answer
SVP & CFO Jake Elguicze affirmed that the strong Q3 free cash flow demonstrates the company's underlying cash-generative power now that separation costs are diminishing, positioning Embecta well to achieve its long-term targets and fund future investments. CEO Devdatt Kurdikar commented that while it is too early to identify a definitive trend from pharmacy closures, it is being monitored closely and is a potential contributor to the broad-based strength seen in the US business.