Hologic IncHOLX posted Q4 adjusted EPS of $0.82, down from $1.61 a year ago and beating the consensus of $0.63.
Revenue of $953.3 million decreased 27.6% Y/Y (down 25.6% on constant currency), primarily driven by lower sales of COVID-19 assays and supply chain challenges related to semiconductor chips in the Breast Health business.
Revenue, however, was significantly higher than the company’s guidance of $840-$870 million and the consensus of $866.76 million.
Diagnostics sales dipped by 37.8% but, excluding COVID-19-related products, grew by 7.8%. Breast health sales declined 17.7%.
“In our fourth quarter of fiscal 2022, Hologic delivered excellent results that significantly exceeded expectations, topping off another tremendous year,” said Steve MacMillan, Hologic chair, president, and CEO. “Fiscal 2022 was outstanding for Hologic.”
“Entering 2023, we see unprecedented strength across each of our core businesses, and all are uniquely poised to deliver low double-digit constant currency organic revenue growth ex. COVID-19 for the year.”
Guidance: For FY23, Hologic projects revenue of $3.7-$3.9 billion compared to a Wall Street estimate of $3.78 billion. It expects adjusted EPS of $3.30-$3.60 versus the consensus of $3.43.
Price Action: HOLX shares closed higher by 1.30% at $67.80 on Monday.
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