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Sep 30, 2023
Hologic Q4 2023 Earnings Report
Hologic's Q4 2023 results were announced, with revenue of $945.3 million, GAAP diluted EPS of $0.37, and non-GAAP diluted EPS of $0.89.
Key Takeaways
Hologic's Q4 2023 revenue reached $945.3 million with a GAAP diluted EPS of $0.37 and a non-GAAP diluted EPS of $0.89. The company's organic revenue growth excluding COVID-19 was 16.7% in constant currency. They expect broad-based strong performance in fiscal year 2024.
Revenue decreased (0.8%) for the quarter, or (1.5%) in constant currency, primarily driven by lower sales of COVID-19 assays.
Excluding COVID-19 revenues, total organic revenue grew 17.5%, or 16.7% on a constant currency basis.
Breast Health revenue increased 28.2%, or 27.4% in constant currency.
The Company intends to enter into an accelerated share repurchase (ASR) agreement for $500 million of the Company’s common stock.
Revenue by Segment
Forward Guidance
Hologic expects total organic constant currency revenue excluding COVID to be within our long-term 5% to 7% growth framework at the mid-point for the full year 2024.
Positive Outlook
- Expect total organic constant currency revenue excluding COVID to be within our long-term 5% to 7% growth framework at the mid-point for the full year 2024.
Challenges Ahead
- Fiscal 2024 has four less selling days compared to fiscal 2023.
- The impact of the four extra selling days to be a headwind of about 400 bps to our Q1 results
- The impact of the four extra selling days to be a headwind of more than 100 bps for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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