Qiagen Q3 Results Top Estimates; Lifts 2020 Outlook

(RTTNews) - Qiagen N.V. (QGEN) reported that its third-quarter net income was $16.91 million or $0.07 per share compared to a loss of $160.64 million or $0.71 per share in the previous year.

Adjusted earnings per share were $0.58, compared to $0.36 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share. Analysts' estimates typically exclude special items.

Sales for the third quarter of 2020 rose 26% at actual rates, and also rose 26% at constant exchange rates, to $483.8 million from $382.7 million in the same period of 2019. Analysts expected revenue of $462.79 million for the quarter.

For the fourth-quarter, the company expects net sales growth of about 24-27% CER and for adjusted earnings per share to reach $0.58-$0.60 CER. Analysts project fourth-quarter earnings of $0.66 per share.

For full-year 2020, the company now expects adjusted earnings per share to grow about 45% CER to at about $2.07- $2.09 CER from $1.43 in 2019. Previously, it expected at least 40% growth in adjusted earnings per share to at least $2.00 CER. Analysts expect annual earnings of $2.06 per share.

The company now expects annual sales growth of about 20% at constant exchange rates from the 2019 level of $1.53 billion. Previously, it expected annual sales growth of 15%-18% at constant exchange rates.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos


    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More