Updates

** Shares of Embecta Corp EMBC.O fall 50.5% to a record low of $4.75, set for biggest one-day percentage decline

** The medical device maker lowers annual forecasts due to weakness in its U.S. business and the impending Owen Mumford acquisition

** Expects 2026 revenue of $1.02 billion to $1.04 billion, compared with prior forecast of $1.07 billion to $1.09 billion

** Sees annual adjusted profit per share of $1.55-$1.75, below prior range of $2.80-$3

** Q2 revenue of $221.8 million misses analysts' average estimate of $235.57 million; adjusted profit per share of 27 cents below estimate of 42 cents - LSEG-compiled data

** CEO Devdatt Kurdikar says lowered outlook assumes that the dynamics that impacted U.S. business during Q2 will continue for the rest of the year

** Adds review of the company's cost structure and organizational footprint initiated, and expects to communicate findings and any resulting actions to investors once the process is complete

** As of last close, stock down 22% YTD