QIAGEN N.V. / Key word(s): Preliminary Results/Change in Forecast
Ad hoc Announcement according to Art. 17 Market Abuse Regulation
QIAGEN announces preliminary Q2 2021 results and updates 2021 outlook
Venlo, the Netherlands, July 12, 2021 - QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) announces preliminary results for the second quarter of 2021 that exceeded the outlook for net sales and adjusted earnings per share, and also updated its outlook for full-year 2021 based on the success of vaccination campaigns that has led to a reduction in COVID-19 testing trends.
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.
Stronger-than-expected growth trends were seen for non-COVID product groups, rising 52% CER to $407.6 million in Q2 2021 and representing 72% of total sales. For the first half of 2021, non-COVID product group sales grew 37% (+33% CER) to $771.6 million and represented 68% of total sales. COVID-19 product group sales declined 17% CER in Q2 2021 compared to the year-ago period, to $159.7 million. Lower COVID-19 product group sales levels were seen across all regions and product categories, as the rapid uptake of COVID-19 vaccination campaigns led to reduced demand for testing.
Adjusted earnings per share (EPS) for the second quarter of 2021 are expected to be about $0.66-0.67 ($0.65-0.66 CER) against the outlook for about $0.62-0.64 CER, and an increase of about 21% from $0.55 in the second quarter of 2020. For the first half of 2021, adjusted EPS are expected to be about $1.32-1.33 ($1.30-1.31 CER) compared to $0.89 in the same period of 2020.
QIAGEN has updated its full-year 2021 outlook for net sales to grow at least 12% CER (prior outlook of about 18-20% CER) and for adjusted diluted EPS of at least $2.42 CER (prior outlook of about $2.42-2.46 CER). Based on rates as of June 30, 2021, currency movements against the U.S. dollar are still expected to create a positive impact of about 2-3 percentage points on net sales growth at actual rates for full-year 2021. A positive impact of about $0.02-0.03 per share is still expected on adjusted EPS.
For the third quarter of 2021, net sales at CER are expected to be at the same level of sales in Q3 2020 of about $483.8 million. Adjusted diluted EPS is expected to be about $0.52-0.53 CER compared to $0.58 in the year-ago quarter. Based on rates as of June 30, 2021, currency movements against the U.S. dollar are expected to create a positive impact of about 1-2 percentage points on net sales growth at actual rates for Q3 2021. A positive impact of up to about $0.01 per share is expected on adjusted diluted EPS.
5912 PL Venlo
Frankfurt Stock Exchange, Regulated Market (Prime Standard)
Contact QIAGEN N.V.:
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12-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
5912 PL Venlo
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