QuidelOrtho says underlying business stable, value proposition strong

Says challenges not structural to the business. Says Q2 is typically the lowest revenue quarter for the business. Sees high single digit growth in China for remainder of year. Sees continued margin improvement in 2H24. Expects to sell two properties in 2H24. Expects cash flow generation to improve in 2H24. Expects to “at or slightly below” previously stated FY24 guidance. Comments taken from Q2 earnings conference call.