Skip to main content
Premium Trial:

Request an Annual Quote

QuidelOrtho Preliminary Q1 Revenues Beat Estimates

NEW YORK – QuidelOrtho said after the close of the market Thursday that it expects preliminary first quarter revenues between $840 million and $850 million, which would exceed analysts' average prediction of $747 million.

The San Diego-based firm credited instrument sales that drove strong results in its laboratory business for the rise, along with better-than-expected results from its point-of-care business and a $21 million settlement related to a collaboration agreement.

The firm predicts between $262 million and $267 million in respiratory product revenues for the quarter, including COVID-19 test sales of $212 million to $217 million. It also expects non-respiratory revenues will rise to between $578 million and $583 million, up about 5 percent year over year on a supplemental combined basis and 7 percent on a constant currency basis.

"Our team delivered solid non-respiratory revenue growth across all major geographic regions, with notable strength in China, demonstrating the power of our newly created scale and breadth of offerings across the diagnostics continuum as well as the durability of our business model," QuidelOrtho CEO Douglas Bryant said in a statement. "As we look ahead, our supply chain is improving, we are focused on our key growth drivers, and we are confident in our ability to deliver sustainable high-single-digit growth over the coming years."

Quidel completed its $6 billion acquisition of Ortho Clinical Diagnostics in May 2022. In February, company officials said they plan to intensify their focus this year on the growth-driving Sofia, Savanna, and Vitros systems and guided for total 2023 revenue of $2.8 billion to $3.1 billion.

QuidelOrtho is scheduled to report its first quarter financial results after the close of the market on May 3.

The Scan

ChatGPT Does As Well As Humans Answering Genetics Questions, Study Finds

Researchers in the European Journal of Human Genetics had ChatGPT answer genetics-related questions, finding it was about 68 percent accurate, but sometimes gave different answers to the same question.

Sequencing Analysis Examines Gene Regulatory Networks of Honeybee Soldier, Forager Brains

Researchers in Nature Ecology & Evolution find gene regulatory network differences between soldiers and foragers, suggesting bees can take on either role.

Analysis of Ashkenazi Jewish Cohort Uncovers New Genetic Loci Linked to Alzheimer's Disease

The study in Alzheimer's & Dementia highlighted known genes, but also novel ones with biological ties to Alzheimer's disease.

Tara Pacific Expedition Project Team Finds High Diversity Within Coral Reef Microbiome

In papers appearing in Nature Communications and elsewhere, the team reports on findings from the two-year excursion examining coral reefs.