secwatch.observer — SEC 8-K summary
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Issuer:     QuidelOrtho Corp (QDEL)
CIK:        0001906324
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001906324-24-000030
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1906324/000190632424000030/0001906324-24-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1906324/000190632424000030/qdel-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001906324-24-000030

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