QuidelOrtho Corporation sharply lowered its 2026 outlook after second-quarter results as China purchasing weakened and management adopted more conservative respiratory-season assumptions. The company now expects 2026 revenues of $2.52-$2.60 billion, down from its prior $2.70-$2.75 billion range, while adjusted EBITDA guidance fell to $540-$560 million from $615-$630 million and adjusted earnings expectations dropped to 65-90 cents per share from $1.80-$2.00. Management cited the second draft of China's in-vitro diagnostics pricing guidelines, which broadened product coverage and expanded the pilot from three provinces to six, leading customers to reduce inventories more quickly than anticipated. QuidelOrtho also shifted away from using an average respiratory season as its planning baseline, now assuming the second-half respiratory environment will be closer to the lower end of historical seasons. Second-quarter Labs revenues rose 3.6% year over year, Immunohematology increased 1.4% and Point of Care advanced 16.3% on a reported basis, but operating activities used $143.6 million of cash during the first six months of 2026 and total debt increased to $2.89 billion at quarter-end from $2.69 billion at the end of the first quarter.
Quidel CorporationChina purchasing weakened and respiratory season assumptions lowered, cutting 2026 outlook.
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