QuidelOrtho Slashes 2026 Guidance After Q2 Miss; Withdraws Free Cash Flow Outlook
QDEL sits 30% above its 52-week low of $9.92.
Summary
QuidelOrtho reported Q2 revenue of $631M but slashed full-year 2026 guidance, cutting revenue, EBITDA, and EPS forecasts sharply and withdrawing free cash flow guidance entirely.
Key Events · Earnings and Guidance · QDEL
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Q2 Revenue Up 3% to $631M
Total revenue grew 3% reported to $631 million, driven by Labs and Point of Care growth, but China revenue fell 18.7%.
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Full-Year Guidance Slashed
Revenue guidance cut to $2.52–$2.60B from $2.70–$2.75B; adjusted EBITDA to $540–$560M from $615–$630M; adjusted diluted EPS to $0.65–$0.90 from $1.80–$2.00.
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Free Cash Flow Guidance Withdrawn
Company withdrew its prior free cash flow guidance of $100–$120 million, citing working capital impacts and mitigation efforts.
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China Headwinds and Respiratory Softness
Management attributed the guidance cut to demand headwinds in China from proposed IVD pricing changes and a softer global respiratory environment.
Analysis · QDEL · Life Sciences
QuidelOrtho reported Q2 revenue of $631 million, up 3% year-over-year, but slashed full-year guidance across the board. Revenue guidance was cut to $2.52–$2.60 billion from $2.70–$2.75 billion, adjusted EBITDA to $540–$560 million from $615–$630 million, and adjusted diluted EPS to $0.65–$0.90 from $1.80–$2.00. Free cash flow guidance was withdrawn entirely. The company cited demand headwinds in China from proposed IVD pricing changes and a softer global respiratory environment. This is a major negative revision that signals deeper operational challenges than previously disclosed, coming just three months after the prior guidance was issued.
At the time of this filing, QDEL was trading at $12.88 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $9.92 to $35.58. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.