Ortho Clinical Diagnostics' Q4 EPS Beat Estimates

Ortho Clinical Diagnostics Holdings plc OCDX reported Q4 sales of $521 million, almost in line with the consensus of $521.17 million.

• The sales increased 0.8% on a reported basis, +1.6% on constant currency, and excluding CoV-2 assays, sales increased 5.0%.
• Core Revenue increased 3.5% to $518.9 million, up 4.3% on constant currency and +8% excluding CoV-2 assays.
• Gross profit margin improved 40 basis points to 50.5% from 50.1% last year.
• Related: Quidel To Buy Ortho Clinical Diagnostics For $24.68/Share: Highlights.
• The company reported an adjusted EPS of $0.18, down from $0.19 a year ago, beating the consensus of $0.15.
• The adjusted EBITDA declined 4.2% to $127.9 million.
• "This momentum is a direct result of our commercial execution within the Clinical Laboratories and Transfusion Medicine businesses as well as across all major geographic regions, demonstrating the strength and stability of our recurring revenue business model," said Chris Smith, Chairman, and CEO.
• Ortho Clinical held $309.7 million of cash and cash equivalents. Total debt was $2.3 billion.
• Price Action: OCDX shares closed 1.86% lower at $16.32 on Wednesday.