Financial Results

Bristol Myers Squibb to reduce workforce in restructuring plan

By LabPulse.com staff writers

As part of a restructuring plan intended to cut $1.5 billion in costs, Bristol Myers Squibb plans to cut about 6% of its workforce, according to the firm.

April 25, 2024

Illumina releases Q2 results, adjusts 2023 guidance

By LabPulse.com staff writers

Illumina is lowering its 2023 guidance for total revenue and EPS. The firm now anticipates consolidated revenue growth of approximately 1% year over year, with core Illumina revenues flat for the period.

August 14, 2023

Exact Sciences raises full-year guidance due to demand for colorectal cancer test

By Nick Paul Taylor

Revenues for Exact Sciences’ screening business, which sells the Cologuard colorectal cancer stool test, increased by 31% to $462.8 million in the second quarter.

August 10, 2023

NeoGenomics Q2 earnings up 18% over 2022 second quarter

By LabPulse.com staff writers

In a call with investors, NeoGenomics CEO Chris Smith attributed the firm’s steady growth to its strategic priorities and improvements in execution.

August 10, 2023

Labcorp targets growth at new unit after fixing non-human primate supply issues

By Nick Paul Taylor

While the supply disruption continued to hold back growth in the second quarter, Labcorp told investors it has resolved the problem and there will be no further impact over the second half of the year.

August 7, 2023

Roche’s diagnostic base business growth unable to offset falling COVID-19 sales in Q2

By Nick Paul Taylor

Demand for tests remained high in the first half of last year with the Omicron variant but has since fallen, taking Roche’s revenues down with it. In the first quarter, Roche’s diagnostics sales fell 28% despite 4% growth in the base business.

August 3, 2023

Agilent Technologies fiscal Q2 revenues rise 7%; firm trims full-year estimates

By Leo O'Connor

Diagnostics and Genomics Group revenues were $362 million, up 1% year-over-year compared to $358 million.

May 24, 2023

LumiraDx Q1 revenues drop 82% as its transition from non-COVID tests takes shape

By LabPulse.com staff writers

In April, the company had announced a cost restructuring program involving a reduction of its global workforce by approximately 40%. It now expects to see the full impact of the restructuring activities during the third quarter.

May 16, 2023

OraSure Technologies Q1 revenues up 129% on COVID-19 rapid immunoassay sales

By Leo O'Connor

Demand for rapid tests is tapering, and OraSure is scaling-down COVID-19 test manufacturing amid staff layoffs.

May 11, 2023

Exact Sciences shares rise on 24% Q1 revenue growth, higher 2023 guidance

By Leo O'Connor

The firm is seeing a “dramatic increase in the electronic ordering rate” at health systems, which is helping grow sales, its CEO Kevin Conroy said.

May 10, 2023

Siemens Healthineers Q2 diagnostics revenues drop 39% on decline in rapid antigen test sales

By Leo O'Connor

The firm is seeing a return to low- to mid-single digital revenue growth as swings in demand from COVID-19 testing to routine testing normalize, Sharon Bracken, its president of diagnostics, said in an interview.

May 10, 2023

Bio-Rad Laboratories Q1 net sales drop 3%; firm lowers full-year guidance

By LabPulse.com staff writers

Bio-Rad shares were down on Friday, a day after the firm updated its financial outlook for full-year 2023; it anticipates non-GAAP currency-neutral revenue growth of approximately 4.5% compared to its previous estimate of 6% to 7%.

May 5, 2023

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