Hologic (HOLX) Reports In-Line Q2 EPS; Withdraws Outlook

Hologic (NASDAQ: HOLX) reported Q2 EPS of $0.57, in-line with the analyst estimate of $0.57. Revenue for the quarter came in at $756.1 million versus the consensus estimate of $745.9 million.

“Our second quarter revenue results reflect the strong underlying momentum that has been building at Hologic over the last few years, and give us confidence that we will emerge from the current COVID-19 pandemic as a stronger company,” said Steve MacMillan, Hologic’s Chairman, President and Chief Executive Officer. “We performed very well through most of the quarter, led by our U.S. Surgical and Diagnostics businesses, and our European franchises. However, disruptions caused by COVID-19 had a significant negative impact on sales in late March, as elective procedures and appointments were deferred, and many of our customers focused on responding to the pandemic. A lynchpin of that response is increasing diagnostic testing for the virus, and we are proud to play a leading role in this effort by developing a second COVID test that will run on our huge installed base of market-leading Panther® instruments.”

GUIDANCE:

Hologic expects the COVID-19 pandemic to have a significant negative impact on its future revenue and operating income, especially in the third quarter of fiscal 2020. However, because the scope and duration of the COVID-19 pandemic are uncertain, the Company cannot currently quantify these effects. The Company therefore withdrew its financial guidance for the second quarter and full year 2020 via press release on April 7, 2020.

For earnings history and earnings-related data on Hologic (HOLX) click here.

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