Hologic Q1 2022 Earnings Report
Key Takeaways
Hologic reported a revenue of $1.471 billion, a decrease of 8.6% compared to the prior year, driven by lower sales of COVID-19 assays. However, excluding COVID-19 revenue, organic revenue grew by 9.0%. GAAP diluted EPS was $1.95, and non-GAAP diluted EPS was $2.17, both significantly exceeding expectations. The company also significantly increased its full-year revenue and EPS guidance.
Revenue was $1.471 billion, a decrease of 8.6% year-over-year, but significantly higher than company guidance.
Excluding COVID-19 revenue, organic revenue grew 9.0% year-over-year.
GAAP diluted EPS was $1.95, and non-GAAP diluted EPS was $2.17, both significantly exceeding expectations.
The company significantly increased its full-year revenue and EPS guidance.
Hologic
Hologic
Hologic Revenue by Segment
Hologic Revenue by Geographic Location
Forward Guidance
Hologic raised its full-year revenue and EPS guidance significantly, reflecting an increase to full-year revenue by $600 million and non-GAAP EPS by $1.35 at the midpoint.
Positive Outlook
- Upside from COVID-19 testing
- Organic growth in base Diagnostics business
- Organic growth in base Surgical businesses
Challenges Ahead
- Headwinds from supply chain challenges in Breast Health business
Revenue & Expenses
Visualization of income flow from segment revenue to net income