QuidelOrtho's Earnings Beat Expectations, Shares Rise Over 4%

QuidelOrtho shares surged more than 4% after the company's quarterly earnings report, which showed revenue of $708 million. Although down from last year, it surpassed analysts' expectations.

Date: 14-02-2025

AI Rating: 7

Earnings Overview
QuidelOrtho reported earnings of $708 million for the quarter, representing a nearly 5% year-over-year decline. However, the revenue exceeded analyst estimates of around $698 million, which indicates a stronger performance than expected.

Net Income and Earnings Per Share (EPS)
Adjusted net income also declined to $42.6 million ($0.63 per share), down from $78.6 million from the previous year. Nonetheless, this EPS figure beat the expected projection of $0.58 per share.

Profitability Outlook
Looking ahead, management has guided for a full-year revenue of between $2.60 billion and $2.81 billion and an adjusted net income per share ranging from $2.07 to $2.57. These figures show an optimistic outlook for profitability growth, particularly when compared to previous expectations of $2.78 billion in revenue and $1.85 per share in adjusted net income from 2024.

Market Reaction
The market reacted positively to the earnings report, as evidenced by the share price increase of over 4%, significantly outperforming the S&P 500 index's approximate 1% rise. This suggests investor confidence in QuidelOrtho's potential for a recovery, despite the downturn in revenue from respiratory diagnostic products due to the waning Covid-19 pandemic.

Stocks: QDEL