QIAGEN Beats Outlook for Fourth Quarter and Full-Year 2020, Reaffirms Expectations for Further Growth in 2021
February 09 2021 - 4:05PM
Business Wire
- Q4 2020 net sales rise 36% CER to $571.2 million, exceeding
outlook of ≥+32% CER, and adjusted diluted EPS grows 42% to $0.68
CER, exceeding outlook of ~$0.64-0.65 CER
- Full-year 2020 net sales increase 23% CER to $1.87 billion,
exceeding outlook of ~+22% CER, and adjusted diluted EPS grows 52%
to $2.17 CER, exceeding outlook of ~$2.13-2.14 CER
- Full-year 2020 operating cash flow rises 38% to $457.8
million, free cash flow grows 53%
- Continuously launching new COVID-19 solutions that also have
non-COVID applications
- Reaffirming full-year 2021 outlook: ~18-20% CER net sales
growth and adjusted diluted EPS of ~$2.42-2.46 CER
QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA)
announced strong results of operations for the fourth quarter and
full-year 2020, exceeding the goals for net sales and adjusted
earnings per share.
Net sales in the fourth quarter of 2020 rose 38% (+36% at
constant exchange rates, CER) to $571.2 million, and faster than
the outlook for at least 32% CER growth. Adjusted earnings per
share (EPS) grew 42% to $0.68 ($0.68 CER) against the outlook for
about $0.64-0.65 CER. Net sales for full-year 2020 increased 23%
(+23% CER) to $1.87 billion, and exceeded the outlook for about 22%
CER sales growth. Adjusted EPS for 2020 rose to $2.15 ($2.17 CER),
and above the outlook for about $2.13-2.14 CER.
“Our results for the fourth quarter represented the best
quarterly performance of 2020, and once again above the outlook we
had set for sales and earnings growth over 2019. We experienced
further improvements in non-COVID areas of the portfolio along with
very strong demand for product groups addressing the critical
demand for COVID-19 testing,” said Thierry Bernard, Chief Executive
Officer of QIAGEN N.V.
“Our QIAGENers continue to display the highest level of
dedication in supplying key products for much-needed testing
workflows to support the global response to the COVID-19 pandemic
while also executing on our strategic focus on five pillars of
growth to drive mid-term growth. Teams are working on regulatory
submissions and expanding the use of key solutions in our COVID-19
portfolio that also have applications once the pandemic has
subsided. We are particularly pleased to help customers overcome
key testing bottlenecks with solutions such as our QIAprep&
solution, a PCR workflow that is being implemented in labs around
the world. We are also making progress on ramping up production
capacity for our automated RNA extraction kits, as overall sales of
sample technologies were higher. Another top priority is to ensure
that our QIAstat-Dx and NeuMoDx tests continue to accurately detect
emerging viral variants. As we focus on delivering COVID-19
solutions, we are seeing increasing demand in other areas of our
portfolio. These include better trends for the QuantiFERON TB test,
our portfolio for oncology testing, universal NGS solutions and DNA
sample technologies. Based on the combination of ongoing demand for
COVID-19 solutions and improving customer trends in other areas, we
feel confident in achieving our outlook for sales and earnings in
2021. QIAGEN is committed to remaining at the forefront of the
fight against COVID while expanding our business for post-pandemic
growth.”
The full press release incl. tables can be
found here
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210209006156/en/
John Gilardi Vice President Corporate Communications and
Investor Relations +49 2103 29 1171 and +49 152 018 11711 and +1
240 686 2222 / john.gilardi@qiagen.com
Phoebe Loh Director Investor Relations +49 2103 29 11457 /
phoebe.loh@qiagen.com
Dr. Thomas Theuringer Senior Director, Head of External
Communications +49 2103 29 11826 / thomas.theuringer@qiagen.com
Robert Reitze Senior Manager Public Relations +49 2103 29 11676
/ robert.reitze@qiagen.com
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