MARLBOROUGH, Mass. - Hologic, Inc. (NASDAQ:HOLX), a medical technology company primarily focused on women's health, reported second-quarter earnings that surpassed analysts' expectations and provided an optimistic forecast for the full year and upcoming quarter, sending its shares up 2.4%.
For the quarter ended March 30, 2024, Hologic announced adjusted earnings per share (EPS) of $1.03, which was $0.05 higher than the analyst consensus of $0.98. However, the company's revenue was not disclosed in comparison to the expected $1.02 billion. The revenue details were omitted, contrasting with the consensus estimate, which may indicate a discrepancy in the reported financials.
Looking ahead, Hologic raised its full-year 2024 adjusted EPS guidance to a range of $4.02 to $4.12, compared to the consensus estimate of $4.03. The company also expects full-year revenue to be between $4 billion and $4.05 billion, aligning with the consensus estimate of $4.03 billion.
For the third quarter of 2024, Hologic anticipates adjusted EPS to be in the range of $0.98 to $1.05, against the analyst consensus of $1.02. The company also forecasts third-quarter revenue to be between $992.5 million and $1.0075 billion, which is slightly below the consensus estimate of $1.01 billion.
Stephen P. MacMillan, Hologic's Chairman, President, and CEO, commented on the results, stating, "At Hologic we continue to deliver, exceeding the high-end of our guidance for both the top and bottom-line, highlighting our durable growth even as we faced incredibly high prior year comps." He also noted the growth in the Diagnostics (ex-COVID) and Surgical franchises and the steady performance of the Breast Health division.
The company's financial health was further underscored by strong cash flow from operations, which amounted to $292.4 million for the second quarter. Hologic also announced its agreement to acquire Endomagnetics Ltd, a provider of breast cancer surgery technologies, for approximately $310 million, as part of its strategy to expand and diversify its interventional breast business.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.