By Denny Jacob
QIAGEN NV said Tuesday it was increasing its outlook for full year 2022 following its first-quarter earnings.
The Netherlands-based holding company increased its 2022 sales outlook to $2.12 billion at constant exchange rates and sees adjusted earnings of at least $2.14 a share at constant exchange rates, both above analysts’ expectations.
QIAGEN said the updated outlook reflects a reaffirmation of its previous goal for digital date constant exchange rates sales growth from its non-Covid product groups but for a significant year-on-year decline in Covid-19 product group sales based on volatile pandemic trends this year.
Current inflation and macroeconomic trends were also considered, the company said, including anticipated lost sales from Russia, Ukraine and Belarus due to the war in Ukraine. QIAGEN said these countries represented 1% of total sales in 2021.
The company said first-quarter sales rose 11% to $628.4 million from the year-ago period, driven by growth in non-Covid and Covid-19 products. Adjusted earnings rose to 80 cents a share from 66 cents in the year-ago period.
Write to Denny Jacob at [email protected]
Credit: www.marketwatch.com /