Q1 2025 QuidelOrtho Corp Earnings Call Transcript
Key Points
- QuidelOrtho Corp (QDEL) achieved a solid mid-single-digit revenue growth of 6% in Q1 2025, excluding COVID and donor screening.
- The labs business, which constitutes 54% of total company revenue, grew by 7%, driven by clinical chemistry and immunoassay testing.
- The company reported a 450-basis point year-over-year improvement in adjusted EBITDA margin.
- Adjusted diluted earnings per share increased by 68% compared to the prior year period.
- QuidelOrtho Corp (QDEL) is on track to realize $100 million in annualized cost savings, with $50 million expected in the first half of 2025.
- Total reported revenue for Q1 2025 decreased to $693 million from $711 million in the prior year, primarily due to lower COVID and donor screening revenue.
- COVID testing revenue was down 53% year-over-year, impacting overall revenue.
- The company faces potential tariff headwinds estimated at $30 million to $40 million in 2025.
- North America revenue declined by 6% due to decreased COVID revenue and the wind-down of the donor screening business.
- China's revenue was flat compared to the prior year, affected by order timing and decreased triage revenue due to lower reimbursement rates for certain cardiac markers.
Welcome to the QuindelOrtho first-quarter 2025 financial results conference call and webcast. (Operator Instructions) Please note this conference call is being recorded. An audio replay for the conference call will be available on the company's website shortly after this call.
I would now like to turn the call over to Juliet Cunningham, Vice President of Investor Relations.
Thank you. Good afternoon, everyone, and thanks for joining the QuindelOrtho first-quarter 2025 financial results conference call. Joining me today are Brian Blaser, President and Chief Executive Officer; and Joe Buskey, Chief Financial Officer.
This conference call is being simultaneously webcast on the Investor Relations page of our website. To aid in the presentation, we also posted supplemental information on the Investor Relations page that will be referenced throughout this call.
This conference call and supplemental information contain forward-looking statements within the meaning of
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