Hologic Announces Preliminary Revenue Results For Q1 2024; Sees Q1 Revenue Of $1.013B Vs $978.96M Est.
Portfolio Pulse from Benzinga Newsdesk
Hologic, Inc. (NASDAQ:HOLX) reported preliminary Q1 2024 revenue of $1.013B, surpassing the $978.96M estimate and exceeding its own guidance of $960M to $985M. The revenue represents a (5.7%) decrease from the previous year, or (6.4%) in constant currency. Excluding COVID-19 impacts, organic revenue grew by 5.2% in constant currency, also exceeding guidance. The company saw growth in its Breast Health and GYN Surgical divisions, while Diagnostics and Skeletal Health experienced declines. Non-GAAP diluted EPS is expected to be at the high end of the $0.92 to $0.97 guidance. Full financial results will be provided on February 1, 2024.
January 07, 2024 | 10:18 pm
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POSITIVE IMPACT
Hologic's Q1 2024 preliminary revenue beat estimates and its own guidance, with strong performance excluding COVID-19 impacts, particularly in Breast Health and GYN Surgical divisions.
Beating revenue estimates and providing a positive EPS outlook are strong indicators of financial health and often lead to positive investor sentiment. The growth in key divisions suggests resilience and adaptability in the post-pandemic market. However, the overall revenue decline and the fact that these are preliminary results introduce some uncertainty.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100