Hologic (HOLX) says financial outlook has improved

Hologic (NASDAQ: HOLX) disclosed:

The financial outlook for Hologic, Inc. (“Hologic” or the “Company”) for the current, fiscal fourth quarter has improved since July 29, 2020, when the Company reported its third quarter financial results and provided financial guidance for the fourth quarter.

Since then, the Company’s Diagnostics business has continued to increase supply chain capacity, enabling revenue to significantly outperform based on increased production and strong sales of COVID-19 tests, Panther® instruments and related products. In addition, the Company’s Breast and Skeletal business, as well as its Surgical division, have performed slightly better than expected.

As a result, with more than 80% of its current, fiscal fourth quarter now complete, the Company now forecasts that total revenues in the fourth quarter will increase between 54% and 60% (compared to the prior year period and in constant currency). These percentage increases, which exclude revenue from the divested Cynosure Medical Aesthetics business in the prior year period, correspond to reported revenue of between $1.225 billion and $1.275 billion this quarter. This increased revenue is also expected to drive earnings per share (EPS) significantly above the Company’s prior guidance.

Hologic is providing these updates in advance of the Company’s participation next week in two virtual investor conferences hosted by Morgan Stanley and J.P. Morgan, respectively. The Company’s presentations at these conferences will be webcast live and will be available on the Company’s investor relations page at: http://investors.hologic.com/events-and-presentations/default.aspx.

You May Also Be Interested In

• Is Treasury selloff a major issue for stock market bulls?
• Northland Upgrades Astera Labs (ALAB) to Outperform, 'Right Time, Customers, and Products'
• DA Davidson Reiterates Neutral Rating on Brunswick Corp (BC)