QuidelOrtho (NASDAQ:QDEL) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

QuidelOrtho (NASDAQ:QDEL) issued its quarterly earnings data on Tuesday. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13, FiscalAI reports. QuidelOrtho had a negative net margin of 14.24% and a positive return on equity of 3.20%. The business had revenue of $618.90 million for the quarter, compared to analysts’ expectations of $627.83 million. During the same quarter last year, the company earned $0.80 EPS. The business’s revenue was down 11.6% on a year-over-year basis.

Here are the key takeaways from QuidelOrtho’s conference call:

• China and respiratory weakness drove the decline: Q3 revenue fell 12% to $619 million, with China down 45% and Point of Care down 27% as respiratory revenue declined 39%. Management expects China to fall from about 8% of revenue in 2026 to 4%–5% in 2027 amid destocking, pricing pressure, and competition.
• Core businesses continued to grow outside China: Labs revenue rose 4% and immunohematology revenue rose 3%, supported by demand across key markets and the company’s installed base.
• A new restructuring program targets more than $80 million in annual savings in 2027, which management says should more than offset near-term China headwinds. The program will incur $30 million–$35 million in restructuring charges, with most of the cash outflow expected in Q4 2026.
• Guidance and leverage reflect continued pressure: The company narrowed 2026 revenue guidance to $2.52 billion–$2.54 billion and expects adjusted EBITDA of $540 million–$545 million and adjusted EPS of $0.65–$0.70. Free cash flow was approximately break-even in Q3, while net leverage rose to 4.5x from 4.3x in Q2.

QuidelOrtho Price Performance

NASDAQ QDEL traded down $2.34 on Thursday, hitting $12.01. The company had a trading volume of 1,058,787 shares, compared to its average volume of 1,786,209. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 0.76. The company’s fifty day moving average price is $12.72 and its 200-day moving average price is $16.17. The company has a market capitalization of $823.39 million, a PE ratio of -2.22 and a beta of 0.77. QuidelOrtho has a 12-month low of $9.92 and a 12-month high of $35.58.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on QDEL shares. Citigroup increased their target price on shares of QuidelOrtho from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Thursday, October 15th. Finally, Zacks Research raised QuidelOrtho from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $13.62.

About QuidelOrtho

QuidelOrtho Corporation (NASDAQ:QDEL) is a global in vitro diagnostics company formed through the combination of Quidel Corporation and Ortho Clinical Diagnostics, a transaction completed in 2022. The company develops, manufactures and markets diagnostic technologies used to detect disease, guide treatment decisions and support blood-transfusion safety.

Its portfolio includes rapid immunoassays, molecular testing systems, clinical chemistry and immunohematology products, as well as laboratory automation solutions.