The earnings call presented a mix of positive and negative aspects. While there are notable achievements such as strong regional growth in EMEA and Asia Pacific, successful cost-saving measures, and a stable non-respiratory business, challenges remain with revenue declines in North America and China, decreased respiratory revenue, and a decrease in gross profit margin. The reinstatement of financial guidance indicates a cautious optimism for the future.

Company Guidance

During the QuidelOrtho Third Quarter 2024 earnings call, the company provided detailed financial guidance, reporting third-quarter revenue of $727 million, adjusted EBITDA of $171 million, and adjusted diluted EPS of $0.85. The company reinstated its full-year 2024 guidance, projecting total revenues between $2.75 billion and $2.80 billion, adjusted EBITDA between $530 million and $550 million, and adjusted diluted EPS between $1.69 and $1.91. Key metrics included a year-to-date recurring revenue of $1.74 billion, representing a 5% growth from the previous year. The company also highlighted expected $100 million in annualized cost savings by the first half of 2025 and anticipated mid-single-digit top-line growth in 2025, excluding COVID-19 and U.S. Donor Screening revenues. The impact of China's anti-corruption policies and potential reimbursement changes in certain provinces were noted as risk factors, with expectations for China revenue growth remaining strong.

Strong EMEA and Asia Pacific Growth

EMEA revenue grew by 12% and the Asia Pacific region, which includes Japan and Latin America, saw an 8% increase in revenue.

Cost Savings and Organizational Restructuring

The company has executed $100 million in annualized cost savings initiatives, expected to fully materialize by the first half of 2025. Additionally, a more agile organizational structure has been implemented to increase customer focus and efficiency.

Non-Respiratory Business Stability

The non-respiratory business grew by 1% year-over-year, with labs revenue achieving a 5% growth. Integrated and automated analyzers grew by 7% and 17%, respectively.

Reinstatement of Financial Guidance

The company reinstated its full-year 2024 financial guidance, expecting total reported revenues between $2.75 billion and $2.80 billion, and adjusted EBITDA between $530 million and $550 million.

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QuidelOrtho (QDEL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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QDEL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 08, 2018	2018 (Q1)	- / 0.86	0.42	104.76% (+0.44)	―	―
Aug 07, 2018	2018 (Q2)	0.08 / -0.08	-0.35	77.14% (+0.27)	―	―
Nov 06, 2018	2018 (Q3)	0.29 / 0.27	-0.16	268.75% (+0.43)	―	―
Feb 13, 2019	2018 (Q4)	0.42 / 0.78	-0.15	620.00% (+0.93)	―	―
May 08, 2019	2019 (Q1)	0.82 / 0.60	0.86	-30.23% (-0.26)	―	―
Aug 08, 2019	2019 (Q2)	0.16 / 0.03	-0.08	137.50% (+0.11)	―	―
Oct 30, 2019	2019 (Q3)	0.39 / 0.38	0.27	40.74% (+0.11)	―	―
Feb 12, 2020	2019 (Q4)	0.61 / 0.71	0.78	-8.97% (-0.07)	―	―
May 06, 2020	2020 (Q1)	0.75 / 0.93	0.6	55.00% (+0.33)	―	―
Jul 30, 2020	2020 (Q2)	0.95 / 1.55	0.03	5066.67% (+1.52)	―	―

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

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QDEL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$38.85	$43.75	+12.61%
Jul 31, 2024	$39.29	$42.00	+6.90%
May 08, 2024	$42.68	$43.62	+2.20%
Feb 13, 2024	$66.77	$45.27	-32.20%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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