HOLX - Hologic falls on Q2 earnings miss and worse-than-expected guidance

Hologic (HOLX) has lost ~6.8% in the post-market after the company’s Q2 earnings for fiscal 2021 failed to meet the consensus. Revenue was in line after recording a ~103.4% YoY growth to reach $1.5B. It is an acceleration from ~89.3% posted in Q1 FY21.Diagnostics led the expansion with a ~233.4% YoY growth taking the quarterly topline to ~$1.1B led by ~390.6% YoY growth in Molecular Diagnostics. Revenue from Breast health rose ~9.3% YoY to reach $336.3M compared to ~0.5% YoY growth in Q1 FY21.Gross Margin increased to ~70.6% from ~52.3% in the prior-year quarter expanding diluted EPS ~561.1% YoY to $2.38.Commenting on results, Hologic CEO Steve MacMillan said: “Hologic posted very strong financial results in our second fiscal quarter in line with our guidance.”“Organic revenue doubled, driven by strong recovery and momentum in our base businesses, as well as our continued response to the COVID-19 pandemic.”However, the company’s Q3 FY21 guidance fell short of Street expectations. Q3

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Hologic falls on Q2 earnings miss and worse-than-expected guidance