QIAGEN Delivers Strong Performance in 2024 Q4: Exceeds Sales and Adjusted Earnings Targets
QIAGEN, a leading global provider of Sample to Insight solutions to transform biological materials into meaningful molecular insights, has delivered a strong performance in the fourth quarter of 2024. According to the company's recent conference call transcript, QIAGEN exceeded its targets for sales and adjusted earnings, solidifying its position as one of the fastest-growing companies in its industry.
Thierry Bernard, Chief Executive Officer at QIAGEN, expressed his satisfaction with the company's performance during the quarter. He highlighted that QIAGEN's results reflect both the resilience of its business and the trust of its customers, reinforcing the company's momentum as it moves into 2025.
Key highlights from QIAGEN's 2024 Q4 include exceeding sales targets with net sales reaching $521 million in the fourth quarter, growing 3% on a constant exchange rate (CER) basis. Adjusted diluted earnings per share (EPS) were $0.61 CER, surpassing the target of at least $0.60 CER. For the full year 2024, QIAGEN also exceeded its outlook for net sales and adjusted EPS.
QIAGEN reached key milestones across its portfolio in 2024, positioning the company to deliver solid profitable growth towards its 2028 targets. Notable achievements include a very solid performance from QIAstat Diagnostics with 25% CER growth in Q4 and over 660 new systems placements in 2024, exceeding the target. The company achieved FDA clearances for four panels for use on the syndromic testing system during 2024.
The QuantiFERON Gold 10 standard test for latent tuberculosis delivered 14% growth in Q4 and 11% CER growth for the year on gains in all regions, underscoring the increasing adoption of this solution worldwide. The recent tuberculosis outbreak in the U.S., including the Kansas outbreak that is the largest documented case since the CDC began counting cases in the 1950s, highlights the global impact of the disease and the need for effective testing solutions like QuantiFERON.
QIAGEN's digital PCR capabilities were also expanded with the launch of its QIAcuity Diagnostic for clinical use. The company's teams have successfully executed a clear strategy to drive further conversion of the latent TB testing market, which remains largely untapped.
The strong performance in 2024 Q4 demonstrates QIAGEN's commitment to delivering innovative solutions that advance science and improve healthcare across the globe. With its robust portfolio and solid growth momentum, QIAGEN is well-positioned for continued success in the coming year.
