The earnings call reflects a mixed sentiment. While there are significant operational highlights such as growth in the labs business, cost reduction initiatives, and stable performance in key markets like China, challenges persist with a decrease in total revenue, particularly in North America and cardiac products. The company is focused on cost savings and margin expansion, pointing to a strategic direction towards profitability amidst declining revenues in certain sectors.

Company Guidance

During the QuidelOrtho conference call for Q4 and full year 2024 financial results, the company provided guidance for 2025, projecting total reported revenue between $2.6 billion and $2.81 billion. Adjusted EBITDA is expected to range from $575 million to $615 million, translating to a 22% adjusted EBITDA margin, marking a 250 basis point improvement from 2024. The guidance assumes $30 million to $50 million in incremental cost savings, predominantly from procurement initiatives. For respiratory revenue, the company anticipates a $50 million to $55 million test market, with over 50% of flu revenue derived from flu COVID combo tests, and COVID revenue is projected at $110 million to $140 million. The adjusted diluted EPS is forecasted between $2.07 and $2.57, with an anticipated foreign currency exchange impact of $55 million. The company also expects a full year effective tax rate of 24% and aims for free cash flow conversion of 25% to 30% of adjusted EBITDA. The company emphasized its focus on operational efficiency and cost structure improvements to drive long-term growth and profitability.

Solid Labs Business Growth

The Labs business, which constitutes about 50% of the company's total revenues, achieved a growth of 4% on a reported and constant currency basis, excluding COVID and non-core revenue, demonstrating a durable and predictable business model.

Immunohematology and China Growth

Immunohematology business continued stable growth of 4% during the fourth quarter. China grew by 11% in the fourth quarter, driven by strong labs performance.

Cost Reduction Initiatives

Cost saving initiatives are projected to bring $50 million in the first half of 2025 and an additional $30 million to $50 million in savings primarily related to procurement.

Adjusted EBITDA and Margin Expansion

Adjusted EBITDA for the fourth quarter 2024 was $150 million with a 21% adjusted EBITDA margin. The company aims for a 250 basis point improvement in 2025.

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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
Apr 30, 2025	2025 (Q1)	0.62 / -	0.44	―	―	―
Feb 12, 2025	2024 (Q4)	0.59 / 0.63	1.17	-46.15% (-0.54)
Nov 07, 2024	2024 (Q3)	0.27 / 0.85	0.9	-5.56% (-0.05)
Jul 31, 2024	2024 (Q2)	-0.23 / -0.07	0.26	-126.92% (-0.33)
May 08, 2024	2024 (Q1)	0.39 / 0.44	1.8	-75.56% (-1.36)
Feb 13, 2024	2023 (Q4)	2.04 / 1.17	1.76	-33.52% (-0.59)
Nov 01, 2023	2023 (Q3)	0.60 / 0.90	1.85	-51.35% (-0.95)
Aug 08, 2023	2023 (Q2)	0.28 / 0.26	2.34	-88.89% (-2.08)
May 03, 2023	2023 (Q1)	1.49 / 1.80	11.66	-84.56% (-9.86)
Feb 15, 2023	2022 (Q4)	1.43 / 1.76	7.29	-75.86% (-5.53)

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
Feb 12, 2025	$39.94	$41.65	+4.28%
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%

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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