Hologic beats by $0.72, beats on revs; guides Q2 EPS above consensus, revs above consensus
- Reports Q1 (Dec) earnings of $2.86 per share, excluding non-recurring items, $0.72 better than the S&P Capital IQ Consensus of $2.14; revenues rose 89.3% year/year to $1.61 bln vs the $1.39 bln S&P Capital IQ Consensus.
- GAAP gross margin of 73.3% increased 2,230 basis points. Non-GAAP gross margin of 77.2% increased 1,560 basis points, primarily due to sales of SARS-CoV-2 tests and the divestiture of the lower margin Medical Aesthetics business.
- Co issues upside guidance for Q2, sees EPS of $2.53-2.68, excluding non-recurring items, vs. $1.99 S&P Capital IQ Consensus; sees Q2 revs of $1.5-1.56 bln vs. $1.35 bln S&P Capital IQ Consensus.