Healthcare in vitro diagnostics company QuidelOrtho (QDEL 4.28%) attracted the right kind of attention from investors after posting its latest quarterly earnings report on Thursday. A rather encouraged market traded the company's shares up by more than 4% in response. That was more than good enough to top the S&P 500 index's slightly over 1% increase.Narrower-than-expected declinesQuidelOrtho's fourth-quarter and full-year results, unveiled after market close on Wednesday, showed that the company earned $70 ...

QuidelOrtho Corporation (QDEL) delivered adjusted earnings per share (EPS) of 63 cents in the fourth quarter of 2024, down 46.2% year over year. The figure, however, topped the Zacks Consensus Estimate by 14.6%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The adjustments include expenses related to the amortization of intangibles, and acquisition and integration costs, among others.GAAP loss per share for the quarter was $2.28 against the year-earlier EPS of 10 cents.Full-year 2024 ...

Financial Data and Key Metrics Changes - Total reported revenue in Q4 2024 was $708 million, a decrease of 4% year-over-year due to declines in COVID and flu testing revenues [10][20] - Adjusted EBITDA for Q4 2024 was $150 million, representing a 21% adjusted EBITDA margin, compared to $195 million in the prior year period [13][26] - Full year 2024 total reported revenue was $2.8 billion, including $2.3 billion in non-respiratory revenue, with adjusted diluted earnings per share at $1.85 [18][19] Business Line Data and Key Metrics Changes - Labs business, approximately 50% of total revenues, achieved 4% growth on a reported and constant currency basis, excluding COVID and non-core revenue [11] - Immunohematology business within transfusion medicine grew 4% in Q4 2024, while donor screening revenue declined by 40% [23] - Q4 respiratory revenue declined 18% year-over-year, with $44 million in COVID revenue [24] Market Data and Key Metrics Changes - Fourth quarter constant currency revenue performance was led by the "other region" (Japan, Asia Pacific, Latin America), which grew 13% [20] - China grew 11%, driven by strong labs performance, partially offset by softness in cardiac point of care products [21] - North America declined by 11% due to anticipated declines in respiratory revenue and donor screening revenue [22] Company Strategy and Development Direction - The company is focusing on improving its cost structure and prioritizing high-impact opportunities to drive profitable growth [8][14] - Key priorities include enhancing customer experience, executing on high-impact programs, and driving sustainable growth through improved R&D productivity [13] - The company plans to implement cost reduction initiatives, targeting $100 million in annualized savings, with $50 million expected in the first half of 2025 [36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress made in the second half of 2024 and expects continued momentum into 2025 [17][30] - The company anticipates full year 2025 total reported revenue between $2.6 billion and $2.81 billion, with adjusted EBITDA between $575 million and $615 million [31] - Management noted that the risk of additional VBP pressure in China has largely passed, but competitive intensity has increased [48][82] Other Important Information - The company finished Q4 2024 with $98 million in cash and $198 million in borrowings on its $800 million revolver [28] - Adjusted free cash flow for Q4 2024 was $68 million, representing 45% of adjusted EBITDA [29] - The effective adjusted income tax rate for 2024 was 24% [27] Q&A Session Summary Question: Guidance on free cash flow conversion - Management acknowledged that free cash flow conversion is expected to improve to 25% to 30% of adjusted EBITDA in 2025, with a long-term goal of reaching at least 50% [44] Question: Update on the China region and pricing - Management indicated that the risk of additional VBP pressure has largely passed for 2025, with competitive intensity increasing but no significant actions expected [48][82] Question: Cost savings and EBITDA drivers - Management highlighted that $50 million of cost savings from previously announced initiatives will benefit the first half of 2025, with additional savings expected from procurement [55] Question: Respiratory revenue expectations - Management expects respiratory revenue to grow in the low single digits for 2024 and 2025, with a focus on flu, RSV, and strep [59] Question: Long-term margin expansion - Management targets adjusted EBITDA margins greater than 25% over the next two to three years, with progress expected as direct procurement savings materialize [87] Question: Timing for Savanna trials - Management confirmed that Savanna trials started in January, with expectations for market entry later in the year if trials are successful [98] Question: Donor screening revenue guidance - Management expects U.S. donor screening revenue to be $40 million to $50 million in 2025, down significantly from 2024 [100]

QuidelOrtho (QDEL) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $1.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.55%. A quarter ago, it was expected that this medical diagnostics company would post earnings of $0.31 per share when it actually produced earnings of $0.85, delivering a surprise of 174.19%.Over the last four quart ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): January 13, 2025 QUIDELORTHO CORPORATION (Exact name of Registrant as specified in its Charter) 001-41409 Delaware (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 87-4496285 9975 Summers Ridge Road, San Diego, California 92121 (Address o ...

QuidelOrtho Corporation (QDEL) recently announced preliminary revenues for fourth-quarter 2024. The preliminary results drove down the shares of the company by 2.5% on Jan. 13.The company is expected to release fourth-quarter results on Feb. 12, 2025.Per the preliminary report, QDEL expects total reported revenues for the fourth quarter of 2024 in the range of approximately $702 million-$707 million, which aligns with its previously announced 2024 financial guidance, including Labs revenue, which also align ...

QuidelOrtho Corporation (QDEL) reported an adjusted earnings per share (EPS) of 85 cents in the third quarter of 2024compared with  90 cents in the year-ago period. The figure beat the Zacks Consensus Estimate by 172.4%.The adjustments include expenses related to the amortization of intangibles, and acquisition and integration costs, among others.GAAP loss per share in the quarter was 30 cents compared with 19 cents in the year-ago quarter.Revenues in DetailQuidelOrtho registered revenues of $727.1 million ...

Financial Data and Key Metrics - Q3 2024 revenue was $727 million, with adjusted EBITDA of $171 million and adjusted diluted EPS of $0.85 [8] - Total year-to-date revenue was $2.1 billion, with recurring revenue of $1.74 billion, representing 5% growth compared to the prior year period [19] - Adjusted EBITDA margin improved by 80 basis points year-over-year to 23.5% in Q3 2024 [30] - The company expects full-year 2024 revenue between $2.75 billion and $2.80 billion, with adjusted EBITDA between $530 million and $550 million [34] Business Line Performance - Labs business grew 5% year-over-year in Q3 2024, driven by integrated and automated analyzers, which grew 7% and 17% respectively [24] - Transfusion Medicine revenue grew 3%, while donor screening declined by 20% as expected [25] - Respiratory revenue declined by 11% year-over-year in Q3 2024, primarily due to higher COVID-19 and flu revenue in the prior year period [26] Regional Performance - EMEA grew 12% in Q3 2024, while the Asia-Pacific and Latin America region grew 8% [20] - North America declined by mid-single digits due to higher respiratory revenue in the prior year period and the wind-down of the U.S. Donor Screening business [20] - China revenue declined by 1% year-over-year, with Labs business growing 5% but offset by softness in Transfusion Medicine and cardiac point-of-care products [21] Strategic Direction and Industry Competition - The company is focusing on cost and process improvement initiatives in procurement, supply chain, manufacturing, quality, and IT to improve profitability [14] - The Savanna molecular platform is a key driver of future revenue growth, with plans to enter clinical trials for the respiratory panel in 2025 [13] - The company is aligning its leadership structure to be flatter and more agile, with global regions fully aligned with business units [11] Management Commentary on Operating Environment and Future Outlook - The company expects to realize $100 million in annualized cost savings by the first half of 2025 [8] - Management is optimistic about the path ahead, with a focus on improving profitability and growth through cost savings and business efficiency initiatives [41] - The company is closely monitoring value-based pricing initiatives and China's anti-corruption policies, which could impact future sales [22][23] Other Important Information - The company finished Q3 2024 with $144 million in cash and $230 million in borrowings on its $800 million revolver [31] - Adjusted free cash flow in Q3 2024 was $120 million, representing 70% of adjusted EBITDA [32] - The company expects to exit the U.S. Donor Screening business by the end of 2025, which will provide a tailwind to margins [81] Q&A Session Summary Question: 2025 Adjusted EBITDA Margin Target - The company expects 100-200 basis points of margin improvement in 2025, driven by $50 million in cost savings and additional initiatives in procurement, IT, and organizational restructuring [44][45] Question: Labs Business Visibility - The Labs business has strong visibility due to long-term contracts and predictable ordering patterns, with mid-single-digit growth expected in 2025 [48] Question: Respiratory Season and COVID-19 Revenue - The company expects $160-$170 million in COVID-19 revenue for 2024, with $20-$30 million in Q4, and is being cautious about timing due to potential revenue shifts into Q1 2025 [51][52] Question: China Cardiac Reimbursement Impact - Proposed reimbursement changes for cardiac biomarkers in China could impact 1% or less of 2025 revenue, with no significant impact expected from value-based pricing initiatives [55][63] Question: Organizational Changes - The company is flattening its organizational structure to improve efficiency and customer focus, with no expected disruption to the sales team or customer interface [59][60] Question: Savanna Platform Update - The Savanna platform is on track for clinical trials in 2025, with significant revenue impact expected in 2026 and 2027 [66] Question: Cross-Selling Efforts - The company is focusing on increasing cross-selling of legacy Quidel products, particularly in international markets, with a shift toward direct sales channels [74] Question: China Stimulus Impact - The company is monitoring the potential impact of China's economic stimulus but sees it as a potential tailwind, though it is too early to quantify [77] Question: Equipment Replacement Cycle - The company has long contract cycles and high retention rates, supporting stable mid-single-digit growth in its Labs business [78] Question: Respiratory Competitive Landscape - The company is the leader in the respiratory space and expects to maintain similar market share to 2023, with efforts to increase share in the current season [84][85]

QuidelOrtho (QDEL) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 174.19%. A quarter ago, it was expected that this medical diagnostics company would post a loss of $0.21 per share when it actually produced a loss of $0.07, delivering a surprise of 66.67%.Over the last four quarters, ...

| --- | --- | |----------------------------------------------------|-------| | | | | | | | | | | November 7, 2024 | | | QuidelOrtho Third Quarter 2024 Financial Results | | | | | © 2024. All Rights Reserved. 2 Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements: This presentation of QuidelOrtho Corporation ("QuidelOrtho" or the "Company") contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are an ...