On July 26, 2022 QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported that results for the second quarter of 2022 and increased the outlook for full-year 2022 (Press release, Qiagen, JUL 26, 2022, View Source [SID1234616948]).

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Net sales for Q2 2022 declined 9% (-4% at constant exchange rates, CER) to $516 million from Q2 2021. Sales at CER were $544 million, ahead of the outlook for at least $510 million CER. Sales were driven by 10% CER growth in the non-COVID-19 product portfolio to $423 million, but sales of COVID-19 products fell 39% CER to $92 million. Adjusted diluted earnings per share (EPS) were $0.51 ($0.53 CER) compared to $0.67 in Q2 2021, and ahead of the outlook for at least $0.46 CER.

Based on the strong performance in the first half of the year, QIAGEN has raised its full-year 2022 net sales outlook of at least $2.2 billion CER (prior outlook for at least $2.12 billion CER) and for adjusted diluted EPS of at least $2.30 CER (prior outlook for at least $2.14 CER). This update includes a reaffirmation of the goal for double-digit CER sales growth from the non-COVID product groups, which grew 12% CER in the first half of 2022, but for a decline in COVID-19 sales amid volatile pandemic trends. It also reflects a review of macro-economic trends, including inflation and energy supplies.

"QIAGEN continues to deliver in 2022, led by double-digit CER sales growth from our non-COVID product portfolio in the first half of the year as we steadily execute on our goals. These solid results give us renewed confidence to increase our full-year outlook for 2022 and position QIAGEN for solid growth beyond the COVID-19 pandemic," said Thierry Bernard, Chief Executive Officer of QIAGEN N.V. "We are addressing the challenges of the macro-environment with actions that include securing supply chains and energy needs. We are accelerating our focused strategy to enhance our balanced portfolio serving Life Science and Molecular Diagnostics customers worldwide, investing into our Five Pillars of Growth and remaining ready to support COVID-19 testing needs as they develop."

Roland Sackers, Chief Financial Officer of QIAGEN N.V., said: "Our results for the first half of 2022 in our non-COVID business are another confirmation of how QIAGEN is moving ahead from a position of strength to create and sustain our growth opportunities. In light of the strong operating cash flow, we are accelerating investments into our portfolio, especially R&D initiatives to expand the test menu on key automation systems. The acquisition of BLIRT S.A. is a reaffirmation of our disciplined capital deployment strategy as we seek various ways to create greater value for shareholders and our other stakeholders."

Please find a PDF of the full press release incl. tables here.

Investor presentation and conference call

A conference call is planned for Thursday, July 28, at 15:30 Frankfurt Time / 14:30 London Time / 9:30 New York Time. A live audio webcast will be made available in the investor relations section of the QIAGEN website, and a replay will also be made available after the event. A presentation is planned to be available shortly before the conference call at View Source