Sviatlana Zyhmantovich QIAGEN ( NYSE: QGEN ) said it was discontinuing its NeuMoDx integrated PCR testing system and updated its 2024 forecast. The medtech company said it now expects to report 2024 adjusted diluted EPS of at least $2.14 at constant exchange rates, or CER, up from its prior forecast of at least $2.
10 CER. QIAGEN added it was in discussions with NeuMoDx customers about the implications of the product discontinuation on 2024 sales and expects to provide additional details with its Q2 earnings announcement. The company also expects to incur a pre-tax restructuring charge of around $400M, or about $1.
40 per diluted share after taxes, mostly in Q2. QIAGEN also reaffirmed its Q2 2024 forecast of net sales of at least $495M CER, with adjusted diluted EPS of $0.52 CER.
Analysts had been expecting QIAGEN to report Q2 adjusted EPS of $0.51 on revenue of $496M. For 2024, they were expecting adjusted EPS of $2.
10 on revenue of $2.01B. QIAGEN said it was discontinuing the NeuMoDx 96 and 288 Molecular Systems due to changing consumer needs and post-pandemic market trends.
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