QIAGEN N.V. Q1 Profit Rises; Increases Full Year Outlook

(RTTNews) - QIAGEN N.V. (QGEN, QGENF) reported that its first-quarter adjusted earnings per share rose to $0.80, or $0.83 CER, from $0.66, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.65, for the quarter. Analysts' estimates typically exclude special items.

Net income increased to $155.31 million or $0.67 per share from $129.22 million or $0.56 per share, prior year.

Net sales increased 11%, or up 15% CER, to $628.4 million. The Group noted that sales were driven by 14% CER growth in the non-COVID-19 product portfolio and an 18% CER rise in sales of products used for COVID-19 testing and surveillance. Analysts on average had estimated $516.41 million in revenue. QIAGEN has increased its full-year 2022 net sales outlook to at least $2.12 billion CER and for adjusted diluted EPS of at least $2.14 CER. The updated outlook reflects a reaffirmation of the previous goal for double-digit CER sales growth from the non-COVID product groups, but for a significant year-on-year decline in COVID-19 product group sales.

For second quarter, net sales are expected to be at least $510 million CER, while adjusted EPS is expected to be at least $0.46 CER.