Lower COVID-19 Assay Sales Weighs On Hologic's Q2 Revenue

Hologic Inc HOLX reported Q2 FY22 sales of $1.44 billion, down 7% Y/Y, and beating the consensus Wall Street estimate for revenues of $1.29 billion.
Lower sales of COVID-19 assays primarily drove a fall in sales.
Hologic's global diagnostics business posted revenues of $987.1 million, down 7%.
Diagnostics revenues excluding COVID-19 revenues were $290.4 million, up 3%.
Hologic said its COVID-19 revenues were down 14% and included assay revenues of $584.1 million.
Hologic reported adjusted EPS of $2.07 and beat analysts' average estimate of $1.60 per share.
The company ended the quarter with $2.29 billion in cash and cash equivalents.
Guidance: For Q3, Hologic anticipates revenues of $875 - $915 million and adjusted EPS of $0.67 to $0.72, compared to the consensus of $893.51 million and $0.70, respectively.
For FY22, the company expects revenues of $4.6 billion - $4.7 billion compared to previous guidance of $4.4 billion - $4.55 billion and a consensus of $4.53 billion.
Hologic forecasts adjusted EPS of $5.45 - $5.65 compared to previous guidance of $4.90 to $5.20 and the consensus of $5.15.
Price Action: HOLX shares are up 1.24% at $71.72 during the market session on the last check Thursday.

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