Hologic's Fiscal Q1 2023 Earnings: A Ray of Hope in a Stormy Year
Hologic has managed to achieve impressive financial results in Fiscal Q1 2023.
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Staff or Guest writer for The Dog of Wall Street.
2023-01-08 22:13

You know what they say: when the going gets tough, the tough get going. And boy, has Hologic (Nasdaq: HOLX) been going strong in Fiscal Q1 2023. Despite the bumpy year we had, the company reported preliminary revenue results of approximately $1 Billion, a decrease of only (27.0%) compared to the prior year period, or (25.1%) in constant currency. This exceeded the company's most recent revenue guidance range of $940 to $990 million, provided on October 31, 2022.
Hologic's Fiscal Q1 2023 Earnings: A Ray of Hope in a Stormy Year
But let's not forget the real miracle here: Hologic's Diagnostics and Surgical businesses both saw double-digit growth in constant currency, excluding COVID-19. The Diagnostics division reported organic growth of 15.8%, while the Surgical division saw organic growth of 14.7%. And the Molecular Diagnostics division had impressive growth of 24.5% in constant currency, excluding COVID-19. Talk about defying the odds!

And it looks like Hologic's Breast Health business is also making a comeback, with results ahead of the company's prior estimate for the quarter. This is great news, as the pandemic had a devastating impact on the breast health industry.

In addition to these impressive revenue results, Hologic expects non-GAAP diluted earnings per share (EPS) to be above the guidance range of $0.80 to $0.90 provided on October 31, 2022. This is just the cherry on top of a very delicious and successful Q1 2023 for the company.

So let's raise a glass (of hand sanitizer, of course) to Hologic. See press release here.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

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2023-01-08 22:13

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