On November 3, 2021 QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported that results for the third quarter and first nine months of 2021 (Press release, Qiagen, NOV 3, 2021, View Source [SID1234594226]).
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In Q3 2021, net sales rose 11% (+10% at constant exchange rates, CER) to $535 million, which was well above the outlook for CER sales to be at the same level as in the year-ago period. Key drivers were a 48% CER gain in sales of the QuantiFERON-TB test to $79 million over Q3 2020 and solid growth in DNA sample technologies products. Also supporting the performance was a stronger-than-expected demand for COVID-19 testing solutions. Diluted earnings per share (EPS) were $0.57 in Q3 2021, up from $0.07 per share in the same period of 2020. Adjusted diluted EPS was $0.58 ($0.58 CER), which was above the outlook for $0.52-0.53 CER and unchanged from Q3 2020.
"QIAGEN’s results for the third quarter of 2021 confirm that our business continues to build strong momentum, especially our non-COVID product groups that delivered 17% CER growth," said Thierry Bernard, Chief Executive Officer of QIAGEN N.V. "We are on track to reach our 2021 sales targets for our five pillars of growth while crossing a significant milestone of more than $2 billion in net sales. Our performance during 2021 has underscored the relevancy of QIAGEN in the molecular research and testing market, while we stand ready to address the volatile trends in COVID-19 testing."
Roland Sackers, Chief Financial Officer of QIAGEN N.V., said: "We have upgraded our full-year outlook for 2021 to reflect the stronger-than-expected results in the third quarter of 2021. Using the boost from the COVID-19 pandemic demand, as well as the momentum in our non-COVID product groups, we are making significant progress on initiatives to support the business expansion in the coming years thanks to our record operating cash flow combined with a commitment to disciplined capital allocation. This has given us the flexibility to make investments to further accelerate our five pillars of growth while increasing returns to shareholders, such as through the recently completed $100 million share repurchase program."
Please find the full press release incl. tables here
Investor presentation and conference call
A conference call is planned for Thursday, November 4, 2021, at 14:30 Central European Time (CET) / 9:30 Eastern Daylight Time (EDT). 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 available at View Source as of Thursday, November 4, 2021, at 12:30 Central European Time (CET) / 7:30 Eastern Daylight Time (EDT).