QIAGEN Announces Preliminary Q1 2020 Results
QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today announced preliminary sales and adjusted earnings per share results for the first quarter of 2020.
Net sales rose approximately 9% at constant exchange rates (CER) compared to the outlook for the first quarter announced on February 4, 2020, for approximately 2-3% CER growth. Sales results reflected very significant demand for solutions used in COVID-19 pandemic testing against weaker customer demand trends in other product areas. Adjusted earnings per share (EPS) are expected to be about $0.34-0.35 CER based on preliminary results compared to the outlook for the first quarter for approximately $0.28-0.29 CER.
Based on actual exchange rates as of March 31, 2020, QIAGEN expects currency movements against the U.S. dollar (reporting currency) to have an adverse impact on results for the first quarter of 2020 of about two percentage points on net sales at actual rates, and resulting in an adverse impact of up to $0.01 per share on adjusted EPS.
Further information will be provided when QIAGEN reports full results for the first quarter of 2020 in early May 2020.
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