QIAGEN Reports Full Results for Q2 and H1 2021
July 29 2021 - 4:14PM
Business Wire
- Q2 2021 results in line with preliminary announcement: Net
sales up 28% (+24% CER) to $567.3 million; adjusted diluted EPS up
22% to $0.67 ($0.66 CER)
- Very strong non-COVID product group sales: +52% CER growth
in Q2 2021 to $407.6 million, representing 72% of total sales,
expect at least 20% CER full-year growth
- Excellent cash flow results: H1 2021 operating cash flow
rises 89% to $285.0 million and free cash flow up 94% to $195.0
million
- Full-year 2021 outlook for at least 12% CER sales growth and
at least $2.42 CER adjusted diluted EPS (as announced on July
12)
- New $100 million share repurchase program started
QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA)
announced full results for the second quarter and first half of
2021 that were in line with the preliminary announcement on July
12.
Net sales rose 28% (+24% at constant exchange rates, CER) to
$567.3 million in Q2 2021 and above the outlook for about 20% CER
growth. Currency movements against the U.S. dollar had a positive
impact of about four percentage points on sales at actual rates in
Q2 2021 over the year-ago period. For the first half of 2021, net
sales rose 39% (+35% CER) to $1.135 billion. Diluted earnings per
share (EPS) were $0.52 in the second quarter of 2021, while
adjusted EPS were $0.67 ($0.66 CER) against the outlook for about
$0.62-0.64 CER, and were up 22% from $0.55 in the second quarter of
2020. For the first half of 2021, diluted EPS were $1.08 while
adjusted EPS were $1.33 ($1.31 CER), up 49% from $0.89 in the first
half of 2020.
“In line with the preliminary announcement in mid-July, our
results in the second quarter of 2021 were driven by outstanding
performance in our non-COVID product groups, and show solid trends
for our core business. We are seeing very positive growth in these
product groups, which are the highest priority of our teams as we
seek to expand on the opportunities within QIAGEN’s five pillars of
growth. We anticipate ongoing strong demand in these product groups
in the second half of 2021, as we aim for at least 20% CER growth
for the full year and for these product groups to represent the
majority of our sales,” said Thierry Bernard, Chief Executive
Officer of QIAGEN N.V.
“We welcome the success of vaccination campaigns and their
contributions to moving the world beyond the pandemic. At the same
time, the faster-than-expected uptake has led to a reduction in
demand for COVID-19 testing. This prompted us earlier in July to
update our view on COVID-19 testing trends for the second half of
2021, and update the outlook for sales and adjusted EPS growth. As
we prepare QIAGEN for sustained growth beyond the pandemic, and
reaffirm the mid-term targets set for our five pillars of growth,
we are confident in developing a stronger and more differentiated
leadership position in the Life Sciences and diagnostics markets,”
Bernard said.
Roland Sackers, Chief Financial Officer of QIAGEN N.V., said:
“QIAGEN continued to deliver a strong level of sales growth and
profitability throughout the first half of 2021, and also very
strong cash flow improvements over the year-ago period. As part of
our commitment to value creation, we recently started the new $100
million share repurchase program with a goal for completion in
mid-September 2021. This reflects our confidence in QIAGEN’s growth
prospects and is a reaffirmation of our commitment to increasing
returns for shareholders.”
Please find the full press release incl. tables
here
About QIAGEN
QIAGEN N.V., a Netherlands-based holding company, is the leading
global provider of Sample to Insight solutions that enable
customers to gain valuable molecular insights from samples
containing the building blocks of life. Our sample technologies
isolate and process DNA, RNA and proteins from blood, tissue and
other materials. Assay technologies make these biomolecules visible
and ready for analysis. Bioinformatics software and knowledge bases
interpret data to report relevant, actionable insights. Automation
solutions tie these together in seamless and cost-effective
workflows. QIAGEN provides solutions to more than 500,000 customers
around the world in Molecular Diagnostics (human healthcare) and
Life Sciences (academia, pharma R&D and industrial
applications, primarily forensics). As of June 30, 2021, QIAGEN
employed more than 5,900 people in over 35 locations worldwide.
Further information can be found at http://www.qiagen.com.
Forward-Looking Statement
Certain statements contained in this press release may be
considered forward-looking statements within the meaning of Section
27A of the U.S. Securities Act of 1933, as amended, and Section 21E
of the U.S. Securities Exchange Act of 1934, as amended. To the
extent that any of the statements contained herein relating to
QIAGEN's products, including those products used in the response to
the COVID-19 pandemic, timing for launch and development, marketing
and/or regulatory approvals, financial and operational outlook,
growth and expansion, collaborations, markets, strategy or
operating results, including without limitation its expected
adjusted net sales and adjusted diluted earnings results, are
forward-looking, such statements are based on current expectations
and assumptions that involve a number of uncertainties and risks.
Such uncertainties and risks include, but are not limited to, risks
associated with management of growth and international operations
(including the effects of currency fluctuations, regulatory
processes and dependence on logistics), variability of operating
results and allocations between customer classes, the commercial
development of markets for our products to customers in academia,
pharma, applied testing and molecular diagnostics; changing
relationships with customers, suppliers and strategic partners;
competition; rapid or unexpected changes in technologies;
fluctuations in demand for QIAGEN's products (including
fluctuations due to general economic conditions, the level and
timing of customers' funding, budgets and other factors); our
ability to obtain regulatory approval of our products; difficulties
in successfully adapting QIAGEN's products to integrated solutions
and producing such products; the ability of QIAGEN to identify and
develop new products and to differentiate and protect our products
from competitors' products; market acceptance of QIAGEN's new
products and the integration of acquired technologies and
businesses; actions of governments, global or regional economic
developments, weather or transportation delays, natural disasters,
political or public health crises, including the breadth and
duration of the COVID-19 pandemic and its impact on the demand for
our products and other aspects of our business, or other force
majeure events; as well as the possibility that expected benefits
related to recent or pending acquisitions may not materialize as
expected; and the other factors discussed under the heading “Risk
Factors” contained in Item 3 of our most recent Annual Report on
Form 20-F. For further information, please refer to the discussions
in reports that QIAGEN has filed with, or furnished to, the U.S.
Securities and Exchange Commission.
Source: QIAGEN N.V.
Category: Corporate
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version on businesswire.com: https://www.businesswire.com/news/home/20210729006153/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 Senior 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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