Qiagen sees FY23 EPS at least $2.07 , consensus $2.11

QIAGEN has revised its full-year 2023 outlook for net sales of at least $1.97B vs. prior $2.05B CER due mainly to the significant drop in COVID-19 test demand and volatility in large-scale customer bulk orders in the OEM Original Equipment Manufacturer) business, which impacts both COVID and non-COVID sales results. Sales growth from the non-COVID product groups is now expected to be at least 8% CER, driven by ongoing solid consumables demand across the portfolio. Adjusted diluted EPS are now expected to be at least $2.07 CER vs prior $2.10 CER. “Our teams at QIAGEN exceeded the outlook we set for both sales and profitability in the second quarter of 2023,” said Thierry Bernard, Chief Executive Officer of QIAGEN. “This performance was especially important given the significant drop-off in COVID-19 testing and challenging macro environment.”