QuidelOrtho reports Q2 adjusted EPS 26c, consensus 28c

Reports Q2 revenue $665.1M, consensus $615.16M. “We are pleased with our solid financial results in the second quarter largely driven by continued strength in our Labs business across all major geographic regions. Equally important, our execution on our key growth drivers was outstanding in the quarter – our Labs backlog is approaching normalized levels and utilization is increasing, Sofia non-COVID pull-through continues to increase, and Savanna EUA and 510(k) submissions were completed as planned,” said Douglas Bryant, President and Chief Executive Officer of QuidelOrtho. “Looking to the future, we will continue to identify additional cost synergies and the integration is now in its final phase, which will focus on our future growth model by identifying, prioritizing and executing transformational initiatives that will accelerate our growth, foster productivity and enable us to be a more nimble, responsive organization.”