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Mar 27, 2021
Hologic Q2 2021 Earnings Report
Hologic's financial results for Q2 2021 were announced, with revenue increasing by 103.4% and EPS more than quadrupling.
Key Takeaways
Hologic reported a strong second quarter in fiscal year 2021, with organic revenue doubling due to recovery in base businesses and response to the COVID-19 pandemic. The company completed three acquisitions and announced another, expecting accelerated growth post-pandemic.
Revenue increased 103.4% for the quarter, or 98.7% in constant currency.
Organic revenue in the second quarter increased 104.7%, or 100.0% in constant currency.
Worldwide molecular diagnostics revenue increased 390.6%, or 378.4% in constant currency, driven by demand for SARS-CoV-2 assays.
Cash flow from operations was $552.3 million, used for acquisitions and repurchase of 1.6 million shares for $120 million.
Hologic
Hologic
Hologic Revenue by Segment
Hologic Revenue by Geographic Location
Revenue by Segment
Diagnostics Revenue
CapyFin.comMolecular Diagnostics Revenue
CapyFin.comBreast Health Revenue
CapyFin.comBreast Imaging Revenue
CapyFin.comInterventional Breast Solutions Revenue
CapyFin.comGYN Surgical Revenue
CapyFin.comSkeletal Health Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Hologic forecasts strong financial results in Q3 2021, driven by continued strength and recovery in base businesses, partially offset by a potentially conservative outlook for COVID test revenue.
Positive Outlook
- Revenue between $1,000 million and $1,070 million
- Reported revenue increase between 21.5% and 30.0%
- Constant Currency revenue increase between 17.9% and 26.4%
- Organic revenue increase between 15.1% and 23.6%
- Non-GAAP EPS between $1.00 and $1.15
Challenges Ahead
- Potentially conservative outlook for COVID test revenue
- Guidance does not include the impact of the pending Mobidiag acquisition
- Based on a non-GAAP tax rate of approximately 21.5%
- Guidance assumes that recent foreign exchange rates persist for all of the third quarter of fiscal 2021
- Organic revenue guidance excludes the divested Blood Screening and the acquired Acessa, Biotheranostics, and Diagenode businesses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income