QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today
announced results for the first quarter of 2024.
Net sales declined 5% to $459 million, while
results at constant exchanges rates (CER) of $462 million were
above the outlook for at least $455 million CER. The adjusted
operating income margin rose to 25.7% from 25.6% in the year-ago
period on realized efficiency gains while supporting investments
into the portfolio. Adjusted diluted earnings per share (EPS) were
$0.46, and results at CER were $0.47 and above the outlook for at
least $0.44 CER.
For 2024, QIAGEN has reaffirmed its outlook for
net sales of at least $2.0 billion CER. Adjusted diluted EPS are
expected to be at least $2.10 CER, led by the adjusted operating
income margin rising to above 28% of sales for FY 2024 compared to
26.9% in 2023 while supporting investments.
“Our results for the first quarter of 2024 show
QIAGEN is on track to achieve the goals that we have set for the
year. They also showcase the areas of resilient growth from our
strategic investments – particularly with the double-digit sales
growth in QuantiFERON, QIAstat-Dx and QIAcuity – as well as our
commitment to improving efficiency,“ said Thierry Bernard, Chief
Executive Officer of QIAGEN.
“As we move on from the pandemic, we are
steadfast in our commitment to driving innovation given our ongoing
high level of R&D investments that help strengthen our
portfolio. QuantiFERON sales continued to grow as we drive
conversion of latent TB testing to the modern blood-based test.
QIAstat‑Dx sales were also robust, with growth in both respiratory
and non-respiratory panels for syndromic testing. Building on the
tremendous acceptance of QIAcuity among our customers, we are
democratizing access to this powerful digital PCR technology and
expanding into new oncology applications that can improve
healthcare. As we navigate a challenging macro environment, we are
well-positioned in 2024 and determined to deliver on our full-year
outlook.“
Roland Sackers, Chief Financial Officer of
QIAGEN, said: “Our strong operating income margin in
Q1 2024 reflects our dedication to efficiency and
growth-focused investments despite cautious instrument purchases.
As we introduce new products and elevate customer engagement, our
commitment to enhancing value for our shareholders remains strong.
Having completed the $300 million synthetic share repurchase
in January, we continue to explore opportunities to maximize our
business thanks to our healthy balance sheet and strong cash flow
through disciplined capital allocation.“
Please find the full press release incl. tables
here.
Investor presentation and conference call
A conference call is planned for Tuesday,
April 30, 2024 at 15:00 Frankfurt Time / 14:00 London Time / 9:00
New York Time. A live audio webcast will be made available in
the investor relations section of the QIAGEN website, and a
recording will also be made available after the event. A
presentation will be available before the conference call at
https://corporate.qiagen.com/investor-relations/events-and-presentations/default.aspx.
Use of adjusted results
QIAGEN reports adjusted results, as well as
results on a constant exchange rate (CER) basis, and other non-U.S.
GAAP figures (generally accepted accounting principles), to provide
additional insight into its performance. These results include
adjusted net sales, adjusted gross income, adjusted gross profit,
adjusted operating income, adjusted operating expenses, adjusted
operating income margin, adjusted net income, adjusted net income
before taxes, adjusted diluted EPS, adjusted EBITDA, adjusted EPS,
adjusted income taxes, adjusted tax rate, and free cash flow. Free
cash flow is calculated by deducting capital expenditures for
Property, Plant & Equipment from cash flow from operating
activities. Adjusted results are non-GAAP financial measures that
QIAGEN believes should be considered in addition to reported
results prepared in accordance with GAAP but should not be
considered as a substitute. QIAGEN believes certain items should be
excluded from adjusted results when they are outside of ongoing
core operations, vary significantly from period to period, or
affect the comparability of results with competitors and its own
prior periods. Furthermore, QIAGEN uses non-GAAP and constant
currency financial measures internally in planning, forecasting and
reporting, as well as to measure and compensate employees. QIAGEN
also uses adjusted results when comparing current performance to
historical operating results, which have consistently been
presented on an adjusted basis.
About QIAGEN
QIAGEN N.V., a Netherlands-based holding
company, is the leading global provider of Sample to Insight
solutions that enable customers to gain valuable molecular insights
from samples containing the building blocks of life. Our sample
technologies isolate and process DNA, RNA and proteins from blood,
tissue and other materials. Assay technologies make these
biomolecules visible and ready for analysis. Bioinformatics
software and knowledge bases interpret data to report relevant,
actionable insights. Automation solutions tie these together in
seamless and cost-effective workflows. QIAGEN provides solutions to
more than 500,000 customers around the world in Molecular
Diagnostics (human healthcare) and Life Sciences (academia, pharma
R&D and industrial applications, primarily forensics). As of
March 31, 2024, QIAGEN employed more than 5,900 people in over
35 locations worldwide. Further information can be found at
https://www.qiagen.com.
Forward-Looking Statement
Certain statements contained in this press
release may be considered forward-looking statements within the
meaning of Section 27A of the U.S. Securities Act of 1933, as
amended, and Section 21E of the U.S. Securities Exchange Act of
1934, as amended. To the extent that any of the statements
contained herein relating to QIAGEN's products, timing for launch
and development, marketing and/or regulatory approvals, financial
and operational outlook, growth and expansion, collaborations,
markets, strategy or operating results, including without
limitation its expected adjusted net sales and adjusted diluted
earnings results, are forward-looking, such statements are based on
current expectations and assumptions that involve a number of
uncertainties and risks. Such uncertainties and risks include, but
are not limited to, risks associated with management of growth and
international operations (including the effects of currency
fluctuations, regulatory processes and dependence on logistics),
variability of operating results and allocations between customer
classes, the commercial development of markets for our products to
customers in academia, pharma, applied testing and molecular
diagnostics; changing relationships with customers, suppliers and
strategic partners; competition; rapid or unexpected changes in
technologies; fluctuations in demand for QIAGEN's products
(including fluctuations due to general economic conditions, the
level and timing of customers' funding, budgets and other factors);
our ability to obtain regulatory approval of our products;
difficulties in successfully adapting QIAGEN's products to
integrated solutions and producing such products; the ability of
QIAGEN to identify and develop new products and to differentiate
and protect our products from competitors' products; market
acceptance of QIAGEN's new products and the integration of acquired
technologies and businesses; actions of governments, global or
regional economic developments, weather or transportation delays,
natural disasters, political or public health crises, and its
impact on the demand for our products and other aspects of our
business, or other force majeure events; as well as the possibility
that expected benefits related to recent or pending acquisitions
may not materialize as expected; and the other factors discussed
under the heading „Risk Factors” contained in Item 3 of our most
recent Annual Report on Form 20-F. For further information, please
refer to the discussions in reports that QIAGEN has filed with, or
furnished to, the U.S. Securities and Exchange Commission.
Source: QIAGEN N.V.Category: Financial
John Gilardi
QIAGEN N.V.
+49 2103 29 11711
john.gilardi@qiagen.com
Phoebe Loh
QIAGEN N.V.
+49 2103 29 11457
phoebe.loh@qiagen.com
Domenica Martorana
QIAGEN N.V.
+49 2013 29 11244
domenica.martorana@qiagen.com
Thomas Theuringer
QIAGEN N.V.
+49 2103 29 11826
thomas.theuringer@qiagen.com
Qiagen NV (NYSE:QGEN)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Qiagen NV (NYSE:QGEN)
Historical Stock Chart
Von Mai 2023 bis Mai 2024