The 10-second takeaway
For the quarter ended March 31 (Q1), Qiagen beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share was unchanged.
Margins dropped across the board.
Qiagen notched revenue of $296.4 million. The 21 analysts polled by S&P Capital IQ anticipated net sales of $285.0 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $264.3 million.
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 17 earnings estimates compiled by S&P Capital IQ anticipated $0.21 per share. GAAP EPS of $0.12 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 63.9%, 120 basis points worse than the prior-year quarter. Operating margin was 12.3%, 260 basis points worse than the prior-year quarter. Net margin was 9.6%, 100 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $299.4 million. On the bottom line, the average EPS estimate is $0.24.
Next year's average estimate for revenue is $1.23 billion. The average EPS estimate is $1.03.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 111 members out of 123 rating the stock outperform, and 12 members rating it underperform. Among 38 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 36 give Qiagen a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Qiagen is outperform, with an average price target of $17.03.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.