Top-line Results In Line with Expectations;
Company Expects to Report Fourth Quarter and Full Year 2024
Financial Results on February 12, 2025
QuidelOrtho Corporation (Nasdaq: QDEL) (the “Company” or
“QuidelOrtho”), a global provider of innovative in vitro diagnostic
technologies designed for point-of-care settings, clinical labs and
transfusion medicine, today announced preliminary unaudited revenue
for the fourth quarter ended December 29, 2024.
Fourth Quarter 2024 Preliminary Unaudited Revenues
The Company expects total reported revenues for the fourth
quarter of 2024 to be in the range of approximately $702 million to
$707 million, which would be in line with its previously announced
2024 financial guidance, including Labs revenue which is also in
line with expectations. Expected fourth quarter 2024 total reported
revenues include:
- Non-respiratory reported revenue in the range of approximately
$561 million to $563 million
- Respiratory reported revenue in the range of approximately $141
million to $143 million1
“We closed the year on a positive note and expect to deliver
top-line results above the mid-point of our 2024 financial
guidance. Fiscal 2024 was an important year for our Company; we
focused our team on our highest growth and profit opportunities,
realigned our leadership team, and improved our cost structure by
executing on significant cost-savings initiatives. We look forward
to leveraging the results of these efforts as we move into fiscal
2025,” said Brian J. Blaser, President and Chief Executive Officer,
QuidelOrtho.
The preliminary unaudited revenues described herein are based on
management’s initial analysis for the fourth quarter ended December
29, 2024 and are subject to adjustments based on the Company’s
completion of its year-end financial close process.
Conference Call Information
The Company expects to report its financial results for its
fourth quarter and full year 2024 after the market closes on
Wednesday, February 12, 2025.
Following the release of financial results, QuidelOrtho will
hold a conference call beginning at 2:00 p.m. PT / 5:00 p.m. ET to
discuss its financial results. Interested parties can access the
call from the “Events & Presentations” section of the “Investor
Relations” page of the Company’s website at
https://ir.quidelortho.com/. Presentation materials will also be
posted to the “Events & Presentations” section of the “Investor
Relations” page of the Company’s website at the time of the call.
Those unable to access the webcast may join the call via phone by
dialing 833-470-1428 (domestic) or +1 929-526-1599 (international)
and entering Conference ID number 356254.
A replay of the conference call will be available shortly after
the event on the “Investor Relations” page of the Company’s website
under the “Events & Presentations” section.
QuidelOrtho is dedicated to advancing diagnostics to power a
healthier future. For more information, please visit
quidelortho.com and follow QuidelOrtho on LinkedIn, Facebook and
X.
1. Due to rounding, numbers presented may not add up precisely
to the totals and percentages provided.
About QuidelOrtho Corporation
QuidelOrtho Corporation (Nasdaq: QDEL) is a world leader in in
vitro diagnostics, developing and manufacturing intelligent
solutions that transform data into understanding and action for
more people in more places every day.
Offering industry-leading expertise in immunoassay and molecular
testing, clinical chemistry and transfusion medicine, bringing
fast, accurate and reliable diagnostics when and where they are
needed – from home to hospital, lab to clinic. So that patients,
clinicians and health officials can spot trends sooner, respond
quicker and chart the course ahead with accuracy and
confidence.
Building upon its many years of groundbreaking innovation,
QuidelOrtho continues to partner with customers across the
healthcare continuum and around the globe to forge a new diagnostic
frontier. One where insights and solutions know no bounds,
expertise seamlessly connects and a more informed path is
illuminated for each of us.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are any statement contained herein that is
not strictly historical, including, but not limited to,
QuidelOrtho’s preliminary unaudited revenues for the fourth quarter
ended December 29, 2024 and other preliminary estimates or future
financial condition and operating results, and other plans,
objectives, strategies, expectations and intentions. Without
limiting the foregoing, the words “may,” “will,” “would,” “should,”
“might,” “expect,” “anticipate,” “believe,” “estimate,” “plan,”
“intend,” “goal,” “project,” “strategy,” “future,” “continue” or
similar words, expressions or the negative of such terms or other
comparable terminology are intended to identify forward-looking
statements. Such statements are based on the beliefs and
expectations of QuidelOrtho’s management as of today and are
subject to significant known and unknown risks and uncertainties.
Actual results or outcomes may differ significantly from those set
forth or implied in the forward-looking statements. The preliminary
financial information for the fourth quarter ended December 29,
2024 presented in this press release represents preliminary and
unaudited estimates, and such estimates are inherently uncertain
and subject to change as the Company completes the preparation of
its consolidated financial statements and related notes and
completes its financial close procedures for the year ended
December 29, 2024. Final financial results may therefore vary from
the estimates in this press release, and such variations to the
preliminary unaudited estimates may be material. The following
additional factors, among others, could cause actual results to
differ from those set forth or implied in the forward-looking
statements: fluctuations in demand for QuidelOrtho’s
non-respiratory and respiratory products; supply chain, production,
logistics, distribution and labor disruptions and challenges; the
challenges and costs of integrating, restructuring and achieving
anticipated synergies as a result of the business combination of
Quidel Corporation and Ortho Clinical Diagnostics Holdings plc; and
other macroeconomic, geopolitical, market, business, competitive
and/or regulatory factors affecting the business of QuidelOrtho
generally, including those discussed in QuidelOrtho’s Annual Report
on Form 10-K for the fiscal year ended December 31, 2023 and
subsequent reports filed with the Securities and Exchange
Commission, including under Part I, Item 1A, “Risk Factors” of the
Form 10-K. You should not rely on forward-looking statements as
predictions of future events because these statements are based on
assumptions that may not come true and are speculative by their
nature. All forward-looking statements are based on information
currently available to QuidelOrtho and speak only as of the date
hereof. QuidelOrtho undertakes no obligation to update any of the
forward-looking information or time-sensitive information included
in this press release, whether as a result of new information,
future events, changed expectations or otherwise, except as
required by law.
Source: QuidelOrtho Corporation
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250113577245/en/
Investor Contact: Juliet Cunningham Vice President, Investor
Relations IR@QuidelOrtho.com Media Contact: D. Nikki Wheeler Senior
Director, Corporate Communications media@QuidelOrtho.com
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