Emergent BioSolutions (EBS) shares fell 31% in Thursday trading after the company cut its full-year guidance and announced an organizational restructuring plan.

The company reported Q2 adjusted earnings late Wednesday of $0.60 per diluted share, up from $0.24 a year earlier.

Two analysts surveyed by FactSet expected a loss of $0.09.

Revenue for the quarter ended June 30 was $234.3 million, up from $140.9 million a year earlier.

Two analysts expected $177.5 million.

For 2026, the company lowered its revenue guidance to $645 million to $675 million from the prior forecast of $720 million to $760 million. Two analysts expect $693.1 million.

Also, the company disclosed a restructuring plan, that will lead to reduction of approximately 90 roles, eliminate 21 positions that are currently vacant, and closure of its wet laboratories in Gaithersburg, Maryland. The company also plans to eliminate the role of chief medical officer, head of research and development.

Price: 5.17, Change: -2.38, Percent Change: -31.50