Quidel CorporationQDEL
▼ NegativeDemandrelevance
Weak respiratory demand and China pricing uncertainty led to guidance cut.
Impact on stocks 1
Biotech & Genomic Medicine
Quidel CorporationQuidelOrtho lowered its full-year revenue and earnings guidance after reporting second-quarter results that beat analyst estimates but revealed significant challenges in China and a softer respiratory testing environment. Revenue came in at $630.9 million, above the $618.1 million consensus, while adjusted EPS of $0.13 beat expectations of a $0.05 loss. However, the company cut its full-year revenue midpoint to $2.56 billion from $2.73 billion and slashed adjusted EPS guidance to $0.78, a 59.2% decrease. CEO Brian J. Blaser cited uncertainty around new in-vitro diagnostics pricing guidelines in China and weaker respiratory demand as key factors. During the earnings call, analysts pressed management on balance-sheet leverage, a potential point-of-care business sale, and mitigation strategies for underperforming segments.
Quidel CorporationWeak respiratory demand and China pricing uncertainty led to guidance cut.