The 10-second takeaway
For the quarter ended March 31 (Q1), Qiagen met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share stayed the same. GAAP earnings per share dropped significantly.
Gross margins increased, operating margins dropped, net margins shrank.
Qiagen booked revenue of $303.6 million. The 19 analysts polled by S&P Capital IQ foresaw revenue of $305.4 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.23. The 20 earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. Non-GAAP EPS of $0.23 were the same as the prior-year quarter. GAAP EPS of $0.08 for Q1 were 33% lower than the prior-year quarter's $0.12 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 66.4%, 250 basis points better than the prior-year quarter. Operating margin was 13.5%, 240 basis points worse than the prior-year quarter. Net margin was 6.6%, 300 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $315.0 million. On the bottom line, the average EPS estimate is $0.25.
Next year's average estimate for revenue is $1.31 billion. The average EPS estimate is $1.10.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 154 members out of 167 rating the stock outperform, and 13 members rating it underperform. Among 43 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 40 give Qiagen a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Qiagen is hold, with an average price target of $20.72.
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