QIAGEN Sees FY24 EPS $2.10 CER Vs $2.20 CER Est.; Revenue Of At Least $2B CER Vs 2.06B CER Est.
Portfolio Pulse from Benzinga Newsdesk
QIAGEN projects its FY24 EPS to be at least $2.10 CER, below the estimated $2.20 CER, with revenues expected to reach at least $2.0 billion CER, slightly under the $2.06 billion CER estimate. The company anticipates at least 2% CER growth in net sales, driven by consumables and related revenues, despite challenges in larger-scale instrument sales and about one percentage point of COVID-19 sales headwinds. Adjusted operating income margin is expected to improve by at least one percentage point to above 28%, with significant pressure on non-operating income due to lower interest income and a higher tax rate.
February 06, 2024 | 9:23 pm
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QIAGEN expects FY24 EPS of at least $2.10 CER, below the $2.20 CER estimate, with revenues of at least $2.0 billion CER, slightly below the $2.06 billion CER forecast. The company anticipates growth driven by consumables, despite COVID-19 headwinds and challenges in instrument sales.
The projected EPS and revenue for FY24 being below estimates could lead to a negative short-term impact on QGEN's stock price. The acknowledgment of COVID-19 sales headwinds and challenges in instrument sales further contribute to potential investor concerns, despite the expected growth in consumables and related revenues.
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