Meridian Bioscience's Q4 Earnings Beat Expectations

Meridian Bioscience Inc VIVO posted Q4 sales of $76.2 million, up 19% Y/Y, beating the consensus of $68.40 million.
Diagnostics segment net revenues increased 15% Y/Y to $34.3 million, led by a 22% increase in molecular products sales, and non-molecular assay products sales increased 14%, despite the impact of the LeadCare product recall.
The life Science segment delivered net revenues of $41.9 million, up 22% Y/Y.
The company reported an adjusted operating margin of 17%, down from 19% a year ago.
Adjusted EPS reached $0.23, higher than $0.19 a year ago, beating the consensus of $0.20.
It held cash and equivalents of $49.8 million as of September 30, 2021.
Guidance: Meridian Bioscience expects FY22 sales of $285 million - $300 million, lower than FY21 sales of $317.9 million and above the consensus of $283.27 million.
The company forecasts sales from the Diagnostics segment of $145 million - $150 million ($127.8 million in 2021) and the Life Science segment of $140 million - $150 million ($190.1 million in 2021).
For FY22, VIVO sees an adjusted operating margin of 21% - 22% and adjusted EPS of $0.98 - $1.08, versus the consensus of $1.07.
Price Action: VIVO shares are up 4.40% at $20.19 during the market session on the last check Friday.