EarningsQ2 2026 Earnings Report
MX:QDEL1 Q2 2026 EPS Results
Actual EPS$2.39
Consensus EPS-$0.90
Beat/MissBeat by +$3.29
One Year Ago EPS$2.20
MX:QDEL1 Q2 2026 Revenue Results
Actual Revenue$11.58B
Expected Revenue$11.37B
Beat/MissBeat by +$210.88M
YoY Revenue Growth+2.45%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
MX:QDEL1 Upcoming Earnings
QuidelOrtho's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:QDEL1 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed a mixed picture: solid underlying operational performance outside China (mid-single-digit growth ex-China, strong regional results, 21% YoY adjusted EBITDA growth, and margin expansion) and tangible progress on the Lex/Neulixa commercialization. Offsetting these positives were significant near-term headwinds — a 23% revenue decline in China driven by IVD pricing uncertainty, a softer respiratory season, negative operating and free cash flow in the quarter, withdrawal of free-cash-flow guidance, and elevated leverage (4.3x). Management emphasized disciplined cost actions, cash-conversion priorities, and mitigation plans, but the combination of China uncertainty and weak respiratory demand creates meaningful short-term risk even as core franchises remain resilient.Company Guidance
Consolidated and Ex-China Revenue Growth
Total revenue for Q2 was $631 million, up 2% year-over-year on a constant-currency basis. Revenue outside of China (~90% of company revenue) grew 6% YoY, demonstrating underlying demand resilience. Key franchise growth outside China: Labs +9%, Immunohematology +5%, and Triage (point-of-care) +9%.
Regional Performance Strength
Broad-based geographic growth in the quarter: North America +6% (largest region, driven by labs and Triage), JPAC +10% (strong in Japan and India), and Latin America +8% (notable strength in Brazil and Central America).
Significant Adjusted EBITDA and Margin Expansion
Adjusted EBITDA increased 21% to $129 million in Q2, and adjusted EBITDA margin expanded 310 basis points to 20% of revenue in a seasonally weak quarter. Full-year adjusted EBITDA guidance updated to $540M–$560M (21%–22% margin).
Progress on Lex / Neulixa Commercialization
Acquisition of Lex (branded Neulixa) completed in April; $97 million deployed for the acquisition. The company reports substantial progress on manufacturing scale-up, supply-chain readiness, and commercial launch capabilities, with early customer engagement described as encouraging and plans to accelerate placements and utilization into the respiratory season and 2027–2028 respiratory season.
Operational Discipline and Cost Management
Non-GAAP SG&A and R&D combined increased only 2% to $219 million while operating expenses improved 40 basis points as a percent of revenue. Management emphasized productivity initiatives, disciplined expense management, and targeted investment to improve returns and cash conversion.
MX:QDEL1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed