Hologic announces financial results for Q2 of fiscal 2024

Hologic, Inc. announced the Company’s financial results for the fiscal second quarter ended March 30, 2024.

“At Hologic we continue to deliver, exceeding the high-end of our guidance for both the top and bottom-line, highlighting our durable growth even as we faced incredibly high prior year comps,” said Stephen P. MacMillan, the Company’s Chairman, President and Chief Executive Officer. “Our Diagnostics (ex-Covid) and Surgical franchises both delivered high single-digit growth, and our Breast Health division remains on track to deliver more gantries this year than the prior year. We are excited to build on our momentum as we look ahead to the second half of fiscal 2024.”

Key financial results for the fiscal second quarter shown in the table below:

Throughout this press release, all dollar figures are in millions, except EPS, unless otherwise noted. Some totals may not foot due to rounding. Unless otherwise noted, all results are compared to the corresponding prior year period. Non-GAAP results exclude certain cash and non-cash items as discussed under “Use of Non-GAAP Financial Measures.” Constant currency percentage changes show current period revenue results as if the foreign exchange rates were the same as those in the prior year period. Our fiscal second quarter organic revenue results exclude the divested Blood Screening and SSI ultrasound imaging businesses. Revenue from acquired businesses is generally included in organic revenue starting a year after the acquisition.

Revenue detail

Financial guidance for the third quarter and full-year fiscal 2024
“Hologic delivered another strong financial performance in our fiscal second quarter of 2024, including strong cash flow and sequential improvement in our Non-GAAP operating margin,” said Karleen Oberton, Hologic’s Chief Financial Officer. “With a strong first half of fiscal 2024, we enter the second half of the year in a position of strength and confidence to deliver on our financial commitments for the year.”

Hologic’s financial guidance for the second quarter and full year 2024 is shown in the table below. The guidance is based on a full year non-GAAP tax rate of approximately 19.75%, and diluted shares outstanding of approximately 238 million for the full year. Constant currency guidance assumes that foreign exchange rates are the same in fiscal 2024 as in fiscal 2023. Organic revenue guidance for fiscal 2024 is in constant currency and excludes the divested Blood Screening and SSI ultrasound imaging businesses. Revenue from acquired businesses is generally included in organic revenue guidance starting a year after the acquisition. In fiscal 2024, all prior transactions are included in Hologic’s organic revenue base. Organic revenue excluding Covid-19 is in constant currency and is organic revenue excluding Covid-19 assay revenue, Covid-19 related revenue, and discontinued product sales in Diagnostics.
MB Bureau