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Jul 01, 2023
Hologic Q3 2023 Earnings Report
Hologic's financial results for Q3 2023 were announced, with revenue reaching $984.4 million and non-GAAP diluted EPS at $0.93.
Key Takeaways
Hologic reported a revenue of $984.4 million for Q3 2023. Despite a decrease in overall revenue due to lower COVID-19 assay sales, the company experienced double-digit growth across all franchises excluding COVID-19 impact. The company exceeded its prior revenue guidance and demonstrated strong cash flow from operations.
Revenue reached $984.4 million, a decrease of (1.8%) year-over-year, but exceeded prior guidance.
Total organic revenue, excluding COVID-19, grew by 18.4% in constant currency.
GAAP diluted EPS was ($0.16), while non-GAAP diluted EPS was $0.93.
Cash flow from operations was strong at $332.7 million, and 1.4 million shares were repurchased for $114 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 provided financial guidance for the fourth quarter and full-year fiscal 2023, expecting to close out the year with a strong fourth quarter.
Positive Outlook
- The guidance assumes low double-digit to mid-teens constant currency organic revenue growth ex. COVID-19 for the total Company for the full-year fiscal 2023.
- Q4 2023 Revenue is expected to be $910 - $950 million.
- Q4 2023 GAAP EPS is expected to be $0.63 - $0.70.
- Q4 2023 Non-GAAP EPS is expected to be $0.80 - $0.87.
- Fiscal 2023 Revenue is expected to be $3,995 - $4,035 million.
Challenges Ahead
- Fiscal 2023 GAAP EPS is expected to be $2.10 - $2.17.
- Fiscal 2023 Non-GAAP EPS is expected to be $3.87 - $3.94.
- Q4 2023 Revenue is expected to decrease (4.5%) to (0.3%)
- Q4 2023 Non-GAAP EPS is expected to decrease (2.4%) to 6.1%.
- Fiscal 2023 Revenue is expected to decrease (17.8%) to (17.0%).
Revenue & Expenses
Visualization of income flow from segment revenue to net income