QuidelOrtho Q1 revenue $711M, GAAP loss $25.50/share; suspends 2024 guidance after new CEO

QuidelOrtho Corp

2024-Q1 EPS reported -$25.50 revenue$711,000,000

Total revenue $711M, down 16% YoY; ex-COVID revenue grew 5% as reported (6% constant currency).
GAAP diluted loss per share $25.50 from $1.74B goodwill impairment; adjusted EPS $0.44 vs $1.80.
Appointed Brian J. Blaser CEO effective May 6; suspended 2024 financial guidance.
Cost reduction headcount cuts expected to deliver ~$100M annualized savings.
Secured credit agreement amendment for additional flexibility through 2027.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

QuidelOrtho Corp reported first quarter ended March 31, 2024 results: revenue $711 million, EPS GAAP diluted loss per share for the first quarter of 2024 was $25.50.

Period: first quarter ended March 31, 2024
Revenue: $711 million
EPS: GAAP diluted loss per share for the first quarter of 2024 was $25.50
Result: reported results

Exact text from the filing

suspends 2024 financial guidance while it assesses business under new President and Chief Executive Officer - First Quarter 2024 Results and Recent Highlights • Revenue was $711 million, as reported: ◦ Non-respiratory revenue was flat at $574 million compared to the prior year period, as reported and in constant currency ▪ Excluding the one-time third-party

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Source: SEC EDGAR

accession 0001906324-24-000030

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