QuidelOrtho Q3 revenue misses estimates on soft respiratory season

Overview

• US diagnostics provider's Q3 revenue fell 12% yr/yr, missing analyst expectations

• Adjusted diluted EPS for Q3 was $0.31

Outlook

• Company sees 2026 total revenue between $2.52 bln and $2.54 bln

• QuidelOrtho expects 2026 adjusted EBITDA of $540 mln to $545 mln

• Company forecasts 2026 adjusted diluted EPS of $0.65 to $0.70

Result Drivers

• CHINA IMPACT - Co said lower Labs sales in China, tied to changes in In Vitro Diagnostics pricing, weighed on results

• SOFT RESPIRATORY SEASON - Co attributed decline in Point of Care revenue to weaker respiratory season

• RESTRUCTURING PROGRAM - Co launched cost transformation and restructuring program aimed at improving profitability

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."

• Wall Street's median 12-month price target for QuidelOrtho Corp is $16.00, about 14% above its November 2 closing price of $14.03

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads

• Nov 2 - IDEXX Laboratories Q3 revenue beats estimates, lifts FY profit outlook

• Nov 3 - Revvity Q3 revenue beats estimates, raises FY guidance

• Nov 3 - SOPHiA GENETICS Q3 revenue rises on US market strength

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)