Qiagen (QGEN) Tops Q3 EPS by 1c; lowers guidance

Qiagen (NYSE: QGEN) reported Q3 EPS of $0.51, $0.01 better than the analyst estimate of $0.50. Revenue for the quarter came in at $497 million versus the consensus estimate of $492.59 million.

GUIDANCE:

Qiagen sees FY2023 EPS of at least $2.07, versus the consensus of $2.11. Qiagen sees FY2023 revenue of at least $1.97 billion, versus the consensus of $2.05 billion.

QIAGEN has revised its full-year 2023 outlook for net sales of at least $1.97 billion (prior $2.05 billion CER) due mainly to the significant drop in COVID-19 test demand and volatility in large-scale customer bulk orders in the OEM (Original Equipment Manufacturer) business, which impacts both COVID and non-COVID sales results. Sales growth from the non-COVID product groups is now expected to be at least 8% CER, driven by ongoing solid consumables demand across the portfolio. Adjusted diluted EPS are now expected to be at least $2.07 CER (prior $2.10 CER).For earnings history and earnings-related data on Qiagen (QGEN) click here.

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