HOLX - Hologic Non-GAAP EPS of $1.06 beats by $0.18 revenue of $1.03B beats by $72.47M

May, 01 2023 04:11 PM Hologic Inc.

2023-05-01 16:11:42 ET

Hologic press release ( NASDAQ: HOLX ): Q2 Non-GAAP EPS of $1.06 beats by $0.18 .
Revenue of $1.03B (-28.5% Y/Y) beats by $72.47M .
Total Company Organic Revenue Growth excluding COVID-19 Exceeds 20%; Each Business Delivers Strong Performance.
Non-GAAP gross margin of 62.1% decreased (890) basis points. The decrease in gross margin was primarily due to the decline in COVID-19 assay sales compared to the prior year period.
Non-GAAP operating margin of 31.3% decreased (1,610) basis points. The decrease in operating margin was primarily due to the decline in COVID-19 assay sales compared to the prior year period.
COVID-19 revenues, which consist of COVID-19 assay revenue of $71.2 million, and other COVID-19 related revenue and revenue from discontinued products of $27.9 million, decreased (85.1%), or (84.8%) in constant currency.
Total principal debt outstanding at the end of the second quarter was $2.84 billion. The Company ended the quarter with cash and equivalents of $2.58 billion, and a net leverage ratio (net debt over EBITDA) of 0.2 times.
On a trailing 12-month basis, GAAP Return on Invested Capital was 14.0%. Adjusted ROIC was 14.4%, a decrease of (1,300) basis points compared to the prior year period.
Q3 Outlook: Revenue $930 - $980M, Non-GAAP EPS $0.83 - $0.93.

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