On April 29, 2024 QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported results for the first quarter of 2024 (Press release, Qiagen, APR 29, 2024, View Source [SID1234642431]).
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Net sales declined 5% to $459 million, while results at constant exchanges rates (CER) of $462 million were above the outlook for at least $455 million CER. The adjusted operating income margin rose to 25.7% from 25.6% in the year-ago period on realized efficiency gains while supporting investments into the portfolio. Adjusted diluted earnings per share (EPS) were $0.46, and results at CER were $0.47 and above the outlook for at least $0.44 CER.
For 2024, QIAGEN has reaffirmed its outlook for net sales of at least $2.0 billion CER. Adjusted diluted EPS are expected to be at least $2.10 CER, led by the adjusted operating income margin rising to above 28% of sales for FY 2024 compared to 26.9% in 2023 while supporting investments.
"Our results for the first quarter of 2024 show QIAGEN is on track to achieve the goals that we have set for the year. They also showcase the areas of resilient growth from our strategic investments – particularly with the double-digit sales growth in QuantiFERON, QIAstat-Dx and QIAcuity – as well as our commitment to improving efficiency," said Thierry Bernard, Chief Executive Officer of QIAGEN.
"As we move on from the pandemic, we are steadfast in our commitment to driving innovation given our ongoing high level of R&D investments that help strengthen our portfolio. QuantiFERON sales continued to grow as we drive conversion of latent TB testing to the modern blood-based test. QIAstat‑Dx sales were also robust, with growth in both respiratory and non-respiratory panels for syndromic testing. Building on the tremendous acceptance of QIAcuity among our customers, we are democratizing access to this powerful digital PCR technology and expanding into new oncology applications that can improve healthcare. As we navigate a challenging macro environment, we are well-positioned in 2024 and determined to deliver on our full-year outlook."
Roland Sackers, Chief Financial Officer of QIAGEN, said: "Our strong operating income margin in Q1 2024 reflects our dedication to efficiency and growth-focused investments despite cautious instrument purchases. As we introduce new products and elevate customer engagement, our commitment to enhancing value for our shareholders remains strong. Having completed the $300 million synthetic share repurchase in January, we continue to explore opportunities to maximize our business thanks to our healthy balance sheet and strong cash flow through disciplined capital allocation."
Please find the full press release incl. tables as a PDF for download at the top of this page.
Investor presentation and conference call
A conference call is planned for Tuesday, April 30, 2024 at 15:00 Frankfurt Time / 14:00 London Time / 9:00 New York Time. A live audio webcast will be made available in the investor relations section of the QIAGEN website, and a recording will also be made available after the event. A presentation will be available before the conference call at View Source