QIAGEN Beats Outlook for Fourth Quarter and Full-Year 2020, Reaffirms Expectations for Further Growth in 2021
QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported robust fourth-quarter and full-year 2020 results, surpassing net sales and adjusted earnings targets. Q4 net sales rose 38% to $571.2 million, exceeding the 32% CER growth outlook. Adjusted EPS for Q4 increased 42% to $0.68. Full-year net sales grew 23% to $1.87 billion, surpassing the 22% CER outlook, with adjusted EPS rising to $2.15. CEO Thierry Bernard highlighted strong COVID-19 testing demand alongside growth in non-COVID areas, ensuring confidence in 2021 performance amid ongoing strategic initiatives.
- Q4 net sales increased 38% to $571.2 million, exceeding 32% growth expectations.
- Adjusted EPS for Q4 climbed 42% to $0.68, surpassing the expected range.
- Full-year net sales rose 23% to $1.87 billion, exceeding the 22% growth outlook.
- Adjusted EPS for 2020 reached $2.15, above the forecast of $2.13-2.14.
- Continued strong demand for COVID-19 testing solutions supports growth.
- None.
QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) announced strong results of operations for the fourth quarter and full-year 2020, exceeding the goals for net sales and adjusted earnings per share.
Net sales in the fourth quarter of 2020 rose
“Our results for the fourth quarter represented the best quarterly performance of 2020, and once again above the outlook we had set for sales and earnings growth over 2019. We experienced further improvements in non-COVID areas of the portfolio along with very strong demand for product groups addressing the critical demand for COVID-19 testing,” said Thierry Bernard, Chief Executive Officer of QIAGEN N.V.
“Our QIAGENers continue to display the highest level of dedication in supplying key products for much-needed testing workflows to support the global response to the COVID-19 pandemic while also executing on our strategic focus on five pillars of growth to drive mid-term growth. Teams are working on regulatory submissions and expanding the use of key solutions in our COVID-19 portfolio that also have applications once the pandemic has subsided. We are particularly pleased to help customers overcome key testing bottlenecks with solutions such as our QIAprep& solution, a PCR workflow that is being implemented in labs around the world. We are also making progress on ramping up production capacity for our automated RNA extraction kits, as overall sales of sample technologies were higher. Another top priority is to ensure that our QIAstat-Dx and NeuMoDx tests continue to accurately detect emerging viral variants. As we focus on delivering COVID-19 solutions, we are seeing increasing demand in other areas of our portfolio. These include better trends for the QuantiFERON TB test, our portfolio for oncology testing, universal NGS solutions and DNA sample technologies. Based on the combination of ongoing demand for COVID-19 solutions and improving customer trends in other areas, we feel confident in achieving our outlook for sales and earnings in 2021. QIAGEN is committed to remaining at the forefront of the fight against COVID while expanding our business for post-pandemic growth.”
The full press release incl. tables can be found here
View source version on businesswire.com: https://www.businesswire.com/news/home/20210209006156/en/
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