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Third Quarter 2023: Net sales of $476 million (-5% real, -6% consistent currency, CER); Diluted EPS of $0. 34 and Adjusted Diluted EPS of $0. 50 // Net sales to CER of at least $470 million before outlook of at least $465 million CER and Adjusted diluted EPS of $0. 50 CER before outlook of at least $0. 48 CER // Sales expansion of 5% CER in the non-COVID portfolio to $442 million, supported by superior sales of tools as well as recurring consumables and similar earnings // 9M 2023: 8% CER sales expansion in the non-COVID portfolio, driven by 88% of highly recurring portfolio consumables profit // Total – full year 2023: Outlook for sales of at least CER$ 1. 97 billion reaffirmed; adj. Diluted EPS of at least $2. 07 CER
Venlo, Netherlands, Oct. 30, 2023 (GLOBE NEWSWIRE) — QIAGEN (NYSE: QGEN; Frankfurt Prime Standard: QIA) has announced its effects for the third quarter and first months of 2023.
Net sales of $470 million in consistent currencies (CERs) for the third quarter of 2023 were consistent with the outlook of at least $465 million CER, driven by a 5% expansion in CER in the non-COVID-19 portfolio. Overall Sales Effects for the third quarter of 2023 decreased 5% (-6% CER) to $476 million from the third quarter of 2022, a consistent period marked by significant COVID-19 similar sales contributions. Adjusted diluted earnings consistent with the consistent percentage (EPS) were $0. 50 and CER$0. 50 effects were above outlook by at least CER$0. 48.
QIAGEN reaffirmed its full-year 2023 net sales outlook of at least $1. 97 billion, driven by continued strong demand for consumables that accounted for 88% of total sales in the first nine months of the year, while larger-scale tool sales remain challenging. QIAGEN also continues to closely monitor changing geopolitical and macroeconomic trends around the world. Adjusted diluted EPS firms at a low of CER$2. 07.
“We delivered another quarter of strong effects that exceeded our outlook, driven by our strategy on our expansion pillars and the benefits of a balance that serves more than 500,000 life sciences and molecular diagnostics customers, as well as our broad geographic footprint,” said Thierry. Bernard. , CEO of QIAGEN.
“This resilient functionality has been vital as we navigate the final quarters of COVID-19 testing in the face of headwinds starting in 2022, and we also face an increasingly challenging macroeconomic environment. In this context, our groups achieved their objectives of generating sales gains in many key spaces and regions of the portfolio. We are well placed to end this year in a stronger position, we decided to achieve solid sales expansion and increase earnings in the fourth quarter of 2023 as we prepare for further expansion and expansion in 2024. and beyond. “
Roland Sackers, CFO of QIAGEN, said: “QIAGEN is making an investment in the company, specifically in R&D.
Please submit a PDF of the full press release, including tables here.
Presentation to investors call for convention
A telephone convention is scheduled for Tuesday, October 31, 2023 at 2:00 p. m. Frankfurt Time / 1:00 p. m. London Time / 9:00 A. M. New York. Se time will host a live audio webcast on the investor relations segment of QIAGEN’s website, and a recording will also be made after the event. A presentation will be made prior to the call for the https://corporate. qiagen. com/investor-relations/events-and-presentations/default. aspx convention.
Using Adjusted Results
QIAGEN reports its adjusted effects, as well as its effects on a consistent exchange rate (CER) basis, as well as other non-US GAAP (generally accepted accounting principles) figures, to provide further insight into its functionality. These effects come with adjusted net sales, adjusted gross profit, adjusted gross margin, adjusted operating revenue stream, adjusted operating expenses, adjusted operating margin, adjusted net revenue stream, adjusted net revenue stream before taxes, adjusted diluted EPS, adjusted EBITDA, adjusted EPS, adjusted profit. taxes, adjusted tax rate and loose cash flow. Free cash flow is calculated by deducting capital expenditures on property, plant and equipment from cash flow from operating activities. Adjusted effects are non-GAAP monetary measures that QIAGEN believes deserve consideration in addition to ready-reported effects in accordance with GAAP, but do not deserve consideration as a substitute. QIAGEN believes that certain parts deserve to be excluded from adjusted effects when they are not part of the ongoing core business, vary in particular from one era to another or the comparison of effects with those of its competitors and its own past eras. Additionally, QIAGEN uses consistent currency and non-GAAP monetary measures internally in planning, forecasting and reporting, as well as for measuring and compensating employees. QIAGEN also uses tight effects to compare existing functionality with legacy operating effects, which have consistently been tight.
About QIAGEN
QIAGEN N. V. , a holding company founded in the Netherlands, is the world’s leading provider of Sample to Insight solutions that enable consumers to obtain valuable molecular data from samples containing the building blocks of life. Our sampling technologies isolate and process DNA, RNA, and proteins. of blood, tissue, and other materials. Testing technologies make those biomolecules visual and analytical. Bioinformatics software and knowledge bases interpret knowledge to generate applicable and actionable insights. Automation answers are coupled into seamless, cost-effective workflows. QIAGEN supplies answers to more than 500,000 international consumers in the fields of molecular diagnostics (human health) and life sciences (university, R
Forward-Looking Statement Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Parent, as amended amended. To the extent any statements contained herein relate to QIAGEN products, including products used in the response to the COVID-19 pandemic, release schedule and progression, marketing approvals and/or regulatory outlook, monetary and operational, expansion and expansion, collaborations, markets, strategy or operational effects, adding, without limitation, its expected adjusted net sales and adjusted diluted effectsArray are forward-looking, such statements are based on existing expectations and assumptions that involve a number of uncertainties and dangers. These uncertainties and hazards include, but are not limited to, hazards relevant to the management of expansion and foreign operations (adding the effects of currency fluctuations, regulatory processes and dependence on logistics), the variety of operational effects and distributions between categories of visitors, and the progression of advertising. markets for our consumer products in academic, pharmaceutical, deployed testing and molecular diagnostics; evolving relationships with consumers, suppliers and strategic partners; competence; immediate or unforeseen technological changes; fluctuations in demand for QIAGEN products (adding fluctuations due to general economic conditions, visitor funding levels and timing, budgets and otherwise); our ability to discharge regulatory approval of our products; difficulties in effectively adapting QIAGEN products for embedded responses and generating such products; QIAGEN’s ability to identify and expand new products and differentiate and protect our products from competitive products; market acceptance of QIAGEN’s new products and the integration of acquired technologies and businesses; government actions, global or regional economic progressions, weather or transportation delays, natural disasters, political or public health crises, adding the scale and duration of the COVID-19 pandemic and its effect on demand for our products and other aspects of our bussines. Array or other force majeure events; as well as the option that expected benefits similar to recent or pending acquisitions may not materialize as anticipated; and the other items discussed under “Risk Factors” contained in Item 3 of our recent maximum Annual Report on Form 20-F. For additional information, please see the discussions in the reports that QIAGEN has filed or provided to the United States Securities and Exchange Commission.
Source: QIAGEN N. V. Category: Financial