Qiagen (QGEN) Q1 2026 earnings summary

Executive summary

• Q1 2026 net sales reached $492 million, up 2% year-over-year (+2% actual, -1% CER), with adjusted diluted EPS at $0.54, in line with outlook.

• Profitability remained strong with an adjusted operating income margin of 27.4%, despite headwinds from tariffs, FX, and acquisitions.

• Reported diluted EPS was $0.33, down 20% from Q1 2025.

Financial highlights

• Net sales: $492.3 million in Q1 2026 vs. $483.5 million in Q1 2025 (+2% actual, -1% CER).

• Adjusted net income: $112.6 million (Q1 2026) vs. $121.0 million (Q1 2025).

• Adjusted diluted EPS: $0.54 (Q1 2026) vs. $0.55 (Q1 2025), reported diluted EPS: $0.33 (-20% year-over-year).

• Free cash flow: $53.7 million in Q1 2026, down from $95.8 million in Q1 2025.

• Adjusted operating income: $135 million (-7% year-over-year); adjusted operating margin: 27.4%.

Outlook and guidance

• FY 2026 net sales growth expected at 1-2% CER (revised down from at least 5%), with ~+4% CER growth in H2 2026.

• FY 2026 adjusted diluted EPS guidance at ≥$2.43 CER (previously at least $2.50).

• Q2 2026 outlook: ~-2% CER net sales, ≥$0.60 CER adjusted diluted EPS.

• Multiple levers identified for H2 2026 sales improvement, including new product launches and recovery in QuantiFERON.