Hologic Reports Better-Than-Expected Q1 Results

Hologic, Inc. HOLX reported better-than-expected first-quarter financial results after the bell Thursday. Here's a look at the highlights. 

The Details: Hologic reported quarterly adjusted earnings of 98 cents per share, beating the analyst consensus estimate of 95 cents by 3.16% and representing an 8.41% decrease over earnings of $1.07 per share from the same period last year.

Quarterly sales clocked in at $1.01 billion, beating the analyst consensus estimate of $986.12 million by 2.73% and representing a 5.68% decrease over sales of $1.07 billion year-over-year.

Hologic saw second-quarter revenue of between $990 million and $1.01 billion and earnings of between 95 cents and $1.00 per share.

"We delivered strong revenue and profitability to start fiscal 2024, exceeding the high-end of our guidance for both the top-line and the bottom-line. Adjusting for the four fewer selling days in the quarter, we estimate our organic growth rate ex. COVID-19 was in the high single digits, highlighting the bigger, faster, stronger Hologic we are today," said Stephen P. MacMillan, CEO of Hologic.

HOLX Price Action: According to Benzinga Pro, Hologic shares are trading down 0.15% after-hours at $74.30 at the time of publication Thursday.

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Photo: Courtesy Hologic