Welcome to our dedicated page for Quidel news (Ticker: QDEL), a resource for investors and traders seeking the latest updates and insights on Quidel stock.
QuidelOrtho Corporation reports developments in in vitro diagnostics, including rapid testing, immunoassay and molecular testing, clinical chemistry, transfusion medicine and point-of-care diagnostic platforms. Company updates commonly address financial results, revenue trends, guidance, respiratory testing seasonality, international market conditions and portfolio activity across labs, cardiac, immunohematology and molecular diagnostics.
Recurring news also covers product and technology developments such as the LEX VELO System, a point-of-care molecular PCR platform with FDA 510(k) clearance and CLIA waived status for Flu A, Flu B and COVID-19 testing, as well as diagnostic education topics including syphilis screening and high-sensitivity troponin. Governance and management changes appear alongside business updates and investor conference participation.
QuidelOrtho (Nasdaq: QDEL) reported its Q2 2024 financial results. Key highlights include:
- Total revenue of $637 million, down from $665 million in Q2 2023
- GAAP diluted loss per share of ($2.20), compared to ($0.80) in Q2 2023
- Adjusted diluted loss per share of ($0.07), down from $0.26 in Q2 2023
- Adjusted EBITDA of $90 million with a 14% margin
The company announced $100 million in annualized cost-savings initiatives to benefit H2 2024 and H1 2025. QuidelOrtho is focusing on aligning operating expenses with revenue expectations and prioritizing R&D efforts in key growth areas.
QuidelOrtho (Nasdaq: QDEL), a global provider of innovative in vitro diagnostic technologies, has announced that it will report its financial results for the second quarter of 2024 on Wednesday, July 31, 2024, after the market close. The company will hold a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results.
Interested parties can access the call through the 'Events & Presentations' section of QuidelOrtho's Investor Relations webpage. Presentation materials will be posted at the time of the call. Those unable to access the webcast can join via phone by dialing 833-470-1428 (domestic) or +1 929-526-1599 (international) with Conference ID 533267. A replay of the call will be available on the company's website shortly after the event.
QuidelOrtho (Nasdaq: QDEL), a leader in in vitro diagnostic technologies, announced its management team's participation in the 44th Annual William Blair Growth Stock Conference. The event is scheduled for June 5, 2024, in Chicago, IL. The company's presentation will take place at 1:20 p.m. CT. Interested parties can access the live webcast and replay on QuidelOrtho's Investor Relations page.
QuidelOrtho (Nasdaq: QDEL) has launched a new state-of-the-art distribution center in Pedricktown, New Jersey, enhancing its U.S. distribution footprint. This strategic move aims to strengthen supply chain resilience and improve the customer experience. Partnering with a third-party logistics provider, QuidelOrtho aims to fulfill orders more efficiently. The company is also committed to sustainability, introducing greener, paper-based packaging that is recyclable. This initiative is expected to impact 15-20% of its domestic shipments over the coming months.
QuidelOrtho reported global year-over-year revenue growth of 5% as reported and 6% in constant currency, excluding COVID-19 revenue. They are undergoing cost reduction initiatives to save approximately $100 million annually. The company suspended its 2024 financial guidance as they assess the business under a new President and CEO. Revenue for Q1 2024 was $711 million, with non-respiratory revenue flat at $574 million and respiratory revenue at $137 million, a 48% decrease due to lower COVID-19 revenue. The company appointed Brian J. Blaser as President and CEO effective May 6, 2024.
QuidelOrtho (Nasdaq: QDEL) appoints Brian J. Blaser as President and Chief Executive Officer, bringing over two decades of leadership experience in the In-Vitro Diagnostics Industry. The Board of Directors expands to eleven members, with Mr. Blaser joining on May 15, 2024. Known for his success in transformational strategies to drive revenue growth and profitability, Mr. Blaser's appointment is set to guide QuidelOrtho through its next phase of growth.
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