Qiagen (QGEN) Q2 2026 earnings summary

Executive summary

• Q2 2026 net sales were $535 million, flat year-over-year at CER, exceeding guidance and expectations for a decline, driven by 5% CER growth in core pillars like Sample Technologies, QIAcuity, and QDI.

• Adjusted diluted EPS was $0.62, above the outlook of at least $0.60 at CER and up 3% year-over-year.

• Growth pillars outperformed, with QuantiFERON returning to growth despite U.S. immigration testing headwinds.

• Maintained high profitability and strong cash flow, enabling a 40% increase in annual dividend.

• Reaffirmed full-year outlook for 1–2% CER net sales growth and adjusted diluted EPS of at least $2.43.

Financial highlights

• Net sales were $535 million, flat year-over-year at CER, outperforming the expected 2% decline.

• Adjusted diluted EPS reached $0.62, above the outlook of at least $0.60 at CER.

• Adjusted operating income was $157 million, with a margin of 29.4% (up from 27.4% in Q1 2026).

• Operating cash flow for H1 2026 was $301 million, unchanged from the prior year.

• Dividend per share increased by 40% to $0.35, with $72 million paid in July.

Outlook and guidance

• Full-year 2026 outlook reaffirmed: net sales growth of 1–2% at CER and adjusted diluted EPS of at least $2.43.

• Q3 2026 guidance: net sales growth of 1–2% at CER and adjusted diluted EPS of at least $0.62.

• Second half sales growth expected to improve to 3–4% at CER, driven by end of portfolio headwinds, new product launches, and Parse outperformance.

• Currency expected to have a minor impact on FY 2026 results, with a 1% tailwind on sales for the year and neutral to slightly positive on EPS.

• QuantiFERON sales expected to progress toward $500 million target for 2026.