Qiagen Q2 Earnings Call Highlights

Qiagen exceeded its second-quarter outlook, reporting $535 million in sales, flat year over year, and adjusted diluted EPS of $0.62 versus guidance of at least $0.60. Growth pillars including Sample Technologies, QIAcuity digital PCR and QIAGEN Digital Insights increased 5% at constant exchange rates. Performance varied by product: Sample Technologies rose 9%, while QIAstat-Dx declined 7% and PCR and nucleic acid amplification fell 8% due to weaker respiratory testing comparisons and OEM demand. Margins remained strong at 29.4%, supported by cost controls, and first-half operating cash flow totaled $301 million. Qiagen reaffirmed its full-year guidance for 1%–2% constant-currency sales growth and adjusted EPS of at least $2.43, expecting growth to accelerate to roughly 3%–4% in the second half. New automation, diagnostic and QIAcuity launches are expected to support the outlook, while the CEO search and strategic review continue independently.

Qiagen reported second-quarter 2026 results above its prior outlook, with net sales of $535 million, unchanged year over year on both a reported and constant-exchange-rate basis. The company had forecast an approximately 2% decline at constant exchange rates. Adjusted diluted earnings per share were $0.62, exceeding guidance of at least $0.60 at constant exchange rates. Chief Executive Officer Thierry Bernard said the company’s growth pillars rose 5% at constant exchange rates during the quarter, led by Sample Technologies, QIAcuity digital PCR and QIAGEN Digital Insights. He said QuantiFERON latent tuberculosis testing returned to growth despite a significant decline in U.S. immigration testing demand, while QIAstat-Dx faced a difficult comparison in respiratory testing.

Sample Technologies sales increased 9% at constant exchange rates, supported by automated consumables and higher instrument sales compared with the prior-year period. Diagnostic Solutions revenue declined 2% at constant exchange rates. Within that segment, QuantiFERON grew 1%, as demand across most testing groups outweighed lower immigration testing demand in the U.S. and Middle East. QIAstat-Dx sales fell 7% at constant exchange rates. Growth in gastrointestinal and meningitis panels was offset by lower respiratory-panel sales against a strong prior-year comparison. PCR and nucleic acid amplification sales declined 8%, although QIAcuity delivered double-digit growth driven by consumables demand. The growth in QIAcuity was more than offset by weaker OEM demand, according to Chief Financial Officer Roland Sackers. Genomics and next-generation sequencing sales rose 2% at constant exchange rates. QIAGEN Digital Insights posted solid single-digit growth, while consumables for universal NGS panels used on third-party sequencers grew more than 20%. Lower sales of other genomics products moderated the segment’s overall growth rate. Americas sales rose 1% at constant exchange rates, including 2% growth in North America. EMEA sales declined 2%, with gains in Spain, Belgium and Poland offset by declines in Germany, France and Italy. Asia-Pacific sales declined 2%, though the region excluding China grew at a low-single-digit rate and Japan posted high-teens growth. China sales declined in the low teens year over year, but improved sequentially at a double-digit percentage rate.

Adjusted operating income declined 2% to $157 million, while the adjusted operating margin was 29.4%, compared with 29.9% in the second quarter of 2025. Sackers said disciplined cost management and efficiency measures helped offset p...