Nucor earnings beat by $0.08, revenue fell short of estimates
Investing.com -- Shares of DiaSorin (BIT:DIA (BME:DIDA)) edged up 1.5% following the release of its financial results, which showed revenues and EBITDA slightly below consensus but met the company’s full-year 2024 targets.
The Italian biotech company reported total revenues of €309 million for the period, approximately 2% shy of the consensus and Stifel estimates, while EBITDA reached €102 million, marginally missing expectations by 1.6% and 0.7%, respectively.
Despite the shortfall in the recent quarter, DiaSorin’s guidance for the fiscal year 2024, which forecasts 7% growth excluding COVID-related sales at constant exchange rates (CER) and an EBITDA margin of 33%, aligned with market expectations. The performance was partly impacted by the phase-out of the ARIES platform in the fourth quarter of 2023 and softer demand in the Immuno indirect/export markets, notably due to challenges in Iran.
Looking ahead, DiaSorin anticipates continued growth into fiscal year 2025, guiding for 7% CER growth with an estimated €20 million in COVID revenues, which translates to roughly 8% growth excluding COVID at CER. This projection is broadly consistent with consensus estimates, despite a stronger U.S. dollar headwind.
The company’s growth strategy is supported by high single-digit growth in Immunodiagnostics, mid-teens growth in Molecular Diagnostics, and mid-single-digit growth in long-term targets. DiaSorin also expects to achieve an EBITDA margin of 34% for FY25.
Stifel analysts commented on the results, expressing surprise at the lower Molecular Diagnostic performance in the fourth quarter during a strong respiratory season. Nevertheless, the analysts maintain confidence in DiaSorin’s market share prospects, particularly in multiplex syndromic testing, where they believe the company can capture approximately 10% share.
"The headline of a lower Molecular Diagnostic 4Q into a strong respiratory season took us by surprise, but we believe the thesis that DIA can take appropriate (~10% multiplex syndromic testing) share is we believe still fully intact. However, after the call, we feel greater confidence into the moving parts as management commented PLEX takeup was solid (guided ~100 customer funnel, ~500 installed base) in spite of classically limited validation during the respiratory season," said Stifel.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.