NASDAQ$HOLX

Hologic Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Hologic's first quarter results for fiscal year 2022 were announced, with revenue of $1.471 billion and GAAP diluted EPS of $1.95, significantly exceeding expectations.

Hologic reported a revenue of $1.471 billion, a decrease of 8.6% compared to the prior year, driven by lower sales of COVID-19 assays. However, excluding COVID-19 revenue, organic revenue grew by 9.0%. GAAP diluted EPS was $1.95, and non-GAAP diluted EPS was $2.17, both significantly exceeding expectations. The company also significantly increased its full-year revenue and EPS guidance.

  • Revenue was $1.471 billion, a decrease of 8.6% year-over-year, but significantly higher than company guidance.
  • Excluding COVID-19 revenue, organic revenue grew 9.0% year-over-year.
  • GAAP diluted EPS was $1.95, and non-GAAP diluted EPS was $2.17, both significantly exceeding expectations.
  • The company significantly increased its full-year revenue and EPS guidance.

Headline financials

Total Revenue

$1.47B

Previous: $1.61B-8.6%
EPS (adj)

$2.17

Previous: $2.86-24.1%
GAAP Gross Margin

67.0%

Previous: 73.3%-8.6%
Non-GAAP Gross Margin

72.1%

Previous: 77.2%-6.6%
Non-GAAP Operating Margin

49.4%

Previous: 60.2%-17.9%
Non-GAAP Net Margin

37.7%

Previous: 46.6%-19.1%
Net Income

$499M

Previous: $653M-23.6%
Operating Income

$641M

Previous: $886M-27.6%
Gross Profit

$986M

Previous: $1.18B-16.4%
Cash & Equivalents

$1.42B

Previous: $869M+63.6%
Total Assets

$9.29B

Previous: $7.55B+23.0%
Stock-Based Comp

$18.7M

Previous: $18.6M+0.5%

Revenue & EPS history

Hologic · Revenue · Quarterly

$1.47B

Q1 2022-8.6%vs Q1 2021
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

Hologic · $2.12B total across 3 segments · Q1 2022

  • Diagnostics
    $950M-15.8%
  • Molecular Diagnostics
    $813M-18.3%
  • Breast Health
    $359M+8.0%

Forward guidance

Hologic raised its full-year revenue and EPS guidance significantly, reflecting an increase to full-year revenue by $600 million and non-GAAP EPS by $1.35 at the midpoint.

Tailwinds

  • Upside from COVID-19 testing
  • Organic growth in base Diagnostics business
  • Organic growth in base Surgical businesses

Headwinds

  • Headwinds from supply chain challenges in Breast Health business

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-0.5%

Avg return

Earnings day

+0.2%

Avg return

5 days after

-0.1%

Avg return

30 days after

49%

35 / 72 earnings

Positive

+12.3%

Q3 2020

Best reaction

-11.4%

Q2 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026
Q1 2026+0.0%-0.6%+0.7%
Q4 2025+0.1%+0.1%+0.9%
Q3 2025+2.8%+4.4%+3.3%
Q2 2025-5.6%-3.2%+8.5%
Q1 2025-10.1%-11.4%-11.3%
Q4 2024-4.3%-4.3%-6.6%
Q3 2024+4.9%+6.4%+2.2%
Q2 2024+0.3%-0.2%-3.3%
Q1 2024-2.7%-0.4%-1.1%
Q4 2023+5.7%+5.4%+0.1%
Q3 2023-5.1%-5.9%-5.4%
Q2 2023-2.4%-2.6%-8.3%
Q1 2023+3.8%+3.6%-1.1%
Q4 2022+10.8%+12.4%+13.8%
Q3 2022+1.0%+1.3%-3.4%
Q2 2022+1.2%+3.4%+9.8%
Q1 2022+4.0%+3.8%+2.4%
Q4 2021-3.3%-5.9%-0.3%
Q3 2021+2.3%+5.0%+9.7%
Q2 2021-9.1%-9.9%-13.4%
Q1 2021+1.7%+11.2%-3.3%
Q4 2020+6.6%-5.0%+1.7%
Q3 2020+12.3%+14.8%-2.8%
Q2 2020+2.9%+2.6%+8.9%
Q1 2020-0.7%-1.8%-13.7%
Q4 2019-4.0%+8.8%+10.3%
Q3 2019-1.3%-6.5%-4.1%
Q2 2019-0.1%+0.7%-5.1%
Q1 2019+0.6%-0.5%+8.6%
Q4 2018+4.9%+1.2%+3.7%
Q3 2018-3.5%-1.9%-7.5%
Q2 2018-6.9%-6.8%-3.9%
Q1 2018-6.7%-6.6%-2.2%
Q4 2017+0.4%+2.9%+8.1%
Q3 2017-9.3%-11.3%-12.5%
Q2 2017-4.3%-5.1%-2.0%
Q1 2017-2.6%-2.9%+1.8%
Q4 2016+4.3%+8.5%+6.3%
Q3 2016+3.9%+5.8%+5.3%
Q2 2016-10.0%
Q1 2016-9.2%
Q4 2015+0.6%
Q3 2015+8.6%
Q2 2015+2.1%
Q1 2015+5.1%
Q4 2014-1.7%
Q3 2014+2.1%
Q2 2014+8.1%
Q1 2014-5.9%
Q4 2013-6.9%
Q3 2013-0.2%
Q2 2013+0.1%
Q1 2013-4.1%
Q4 2012-0.3%
Q3 2012-0.4%
Q2 2012-11.4%
Q1 2012+5.2%
Q4 2011-4.0%
Q3 2011-3.9%
Q2 2011-0.6%
Q1 2011+0.0%
Q4 2010+1.2%
Q3 2010+1.2%
Q2 2010-2.6%
Q1 2009-2.8%
Q1 2010-1.1%
Q2 2009+2.9%
Q4 2007+2.9%
Q4 2009+2.9%
Q3 2009-3.0%
Q3 2008-3.0%
Q4 2008-3.0%

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