QuidelOrtho Corporation

Latest Results (02.01.2025):

Fourth Quarter 2023 Revenue

QuidelOrtho Corporation reported total revenue of $743 million for the fourth quarter of 2023. This represents a decrease from the $867 million reported in the same period of the previous year. The decline was primarily due to a significant reduction in respiratory revenue, which decreased by 49% as reported and in constant currency.

Fourth Quarter 2023 Earnings

For the fourth quarter of 2023, QuidelOrtho Corporation reported a GAAP diluted EPS of $0.10, compared to $0.45 in the prior year period. The adjusted diluted EPS was $1.17, down from $1.76 in the previous year. The decrease in earnings was largely attributed to the anticipated decline in COVID-19-related revenue.

Full-Year 2023 Financial Performance

QuidelOrtho Corporation's total revenue for the full-year 2023 was $3.0 billion, compared to $3.3 billion in the prior year. The company reported a GAAP diluted loss per share of $0.15 for the year, a significant drop from the diluted EPS of $9.56 in the previous year. The full-year results included $113 million in integration-related charges.

Full-Year 2023 Adjusted Financial Metrics

For the full-year 2023, QuidelOrtho Corporation's adjusted diluted EPS was $4.13, compared to a supplemental combined adjusted diluted EPS of $13.80 in the prior year. The adjusted EBITDA for the year was $723 million, down from $1.54 billion in the previous year. The decline was primarily due to the expected reduction in COVID-19 revenue.

Fiscal Year 2024 Financial Guidance

QuidelOrtho Corporation provided financial guidance for fiscal year 2024, projecting total revenues between $2.76 billion and $3.07 billion. The company expects non-respiratory revenue to range from $2.30 billion to $2.34 billion, while respiratory revenue is anticipated to be between $460 million and $730 million. Adjusted EBITDA is forecasted to be between $565 million and $720 million, with an adjusted diluted EPS range of $2.40 to $3.07.