QuidelOrtho Q2 2024: revenue $637M, GAAP diluted loss ($2.20)/share

QuidelOrtho Corp

2024-Q2 EPS reported -$27.67 revenue$1,348,000,000

Total revenue $637M, down 4% YoY; lower COVID-19 revenue was primary driver.
GAAP diluted loss per share ($2.20) vs ($0.80) prior year; GAAP operating loss ($118M).
Adjusted diluted loss per share ($0.07) vs +$0.26; adjusted EBITDA $90M (14% margin).
Announced $100M annualized cost-savings initiatives to benefit H2 2024 and H1 2025.
Ex-COVID & U.S. Donor Screening, recurring revenue grew 5% constant currency YoY.

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