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Investing.com -- QuidelOrtho Corporation (NASDAQ:QDEL) reported first quarter earnings that exceeded analyst expectations, sending shares soaring 7.8% in after-hours trading. The in-vitro diagnostics company posted adjusted earnings per share of $0.74, surpassing the consensus estimate of $0.61.
Revenue for the quarter came in at $693 million, slightly below the analyst forecast of $694.43 million but representing 5% growth year-over-year. Excluding COVID-19 and Donor Screening, revenue increased 6% in constant currency.
The company’s Labs segment was a bright spot, with revenue growing 5% as reported and 7% in constant currency. However, Donor Screening revenue declined 62% as QuidelOrtho continues winding down its U.S. operations in that business.
"We delivered solid first quarter performance driven by growth in our Labs business and the strength of our recurring revenue business model," said Brian J. Blaser, President and CEO of QuidelOrtho.
The company maintained its full-year 2025 guidance, projecting revenue of $2.6-$2.81 billion and adjusted EPS of $2.07-$2.57. This outlook aligns with analyst expectations of $2.705 billion in revenue and $2.34 in EPS.
QuidelOrtho’s adjusted EBITDA margin expanded to 23% in Q1, up 450 basis points YoY, driven by cost-saving initiatives. GAAP operating margin improved significantly to 5% from -247% in the prior year period.
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