QuidelOrtho Corporation

Latest Results (14.08.2024):

Revenue

QuidelOrtho Corporation reported total revenue of $637 million for the second quarter of 2024, compared to $665 million in the prior year period. The decrease in total revenue was primarily due to lower COVID-19 revenue in the second quarter of 2024 compared to the prior year period.

GAAP Operating Loss

For the second quarter of 2024, QuidelOrtho Corporation reported a GAAP operating loss of $118 million, compared to an operating loss of $27 million in the prior year period. The GAAP operating margin was (18%) compared to (4%) in the prior year period.

Adjusted EBITDA

QuidelOrtho Corporation's adjusted EBITDA for the second quarter of 2024 was $90 million, compared to $113 million in the prior year period. The adjusted EBITDA margin was 14%, compared to 17% in the prior year period, primarily due to lower COVID-19 revenue.

GAAP Diluted Loss Per Share

In the second quarter of 2024, QuidelOrtho Corporation reported a GAAP diluted loss per share of ($2.20), compared to a diluted loss per share of ($0.80) in the prior year period. The results included $31 million in integration-related charges and a $57 million asset impairment charge related to long-term assets held for sale.

Outlook and Strategic Priorities

QuidelOrtho Corporation's CEO, Brian J. Blaser, emphasized the company's strategic priorities for the second half of 2024, which include improving the cost structure, focusing on high-growth areas of the product portfolio, and strengthening its position as a leading in vitro diagnostic company. The company aims to provide exceptional customer satisfaction and patient care while maintaining high levels of quality and compliance.