QIAGEN Updates Prelim. Q2 Results; Issues Outlook – Quick Facts

QIAGEN N.V. (QGEN) said it now expects second quarter adjusted earnings per share to be $0.56 CER (previously $0.55-0.56 CER) based on preliminary results, an increase of about 70% from $0.33 in the second quarter of 2019. On average, eight analysts polled by Thomson Reuters expect the company to report profit per share of $0.42, for the quarter. Analysts’ estimates typically exclude special items.

Second quarter net sales were $443 million, an increase of 19% at constant exchange rates (or CER) (previously 18-19% CER) and 16% at actual rates from $382 million, prior year. Analysts expect revenue of $417.3 million for the quarter.

For the first half, the company projects adjusted EPS to be $0.90 CER based on preliminary results, an increase of 50% CER from $0.60 in the first half of 2019. Net sales were $815 million, an increase of 14% CER and 12% at actual rates from $730 million, last year.

For the third quarter, QIAGEN projects adjusted EPS to grow approximately 45-60% CER to about $0.52-0.58 CER from $0.36, a year ago. Net sales growth is anticipated to be approximately 16-21% CER compared to $383 million, prior year.

For full-year 2020, QIAGEN expects adjusted EPS growth of at least 40% CER to at least $2.00 CER from $1.43 in 2019. Net sales growth is expected to be approximately 15-18% CER from the prior year level of $1.53 billion.

For 2021, QIAGEN expects adjusted EPS growth of at least 18% CER from 2020. The company anticipates a continuation of net sales growth at a double-digit CER pace compared to 2020.

The company plans to release full second quarter and first-half 2020 results on August 4, 2020.

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