MARLBOROUGH, Mass. - Hologic, Inc. (NASDAQ:HOLX) reported fourth-quarter earnings that met analyst expectations, but its shares fell 2% in after-hours trading as the medical technology company provided softer-than-expected guidance for the upcoming quarter.
The women's health specialist posted adjusted earnings per share of $1.01 for the quarter ended September 28, 2024, in line with Wall Street estimates. Revenue came in at $987.9 million, surpassing the consensus forecast of $978.27 million and representing a 4.5% increase YoY, or 4.2% in constant currency.
Excluding COVID-19 related sales, Hologic's organic revenue grew 5.3%, or 5.0% on a constant currency basis. The Diagnostics segment led growth, with revenue increasing 6.5% to $987.9 million, driven primarily by higher Molecular Diagnostics sales.
"We delivered strong fiscal 2024 results, reinforcing our track record of durable performance with another solid quarter of growth," said Steve MacMillan, Hologic's chairman, president, and CEO.
Despite the positive Q4 results, Hologic's shares declined in after-hours trading as the company provided first-quarter fiscal 2025 guidance that fell short of analyst expectations. The company forecasts Q1 2025 EPS of $1.00-$1.03, compared to the consensus estimate of $1.03.
Hologic's cash flow from operations remained robust at $367.1 million for the quarter. The company also announced plans to enter into a $250 million accelerated share repurchase agreement, expected to be completed in the second quarter of fiscal 2025.
Looking ahead, Hologic anticipates continued execution of its growth strategy in fiscal 2025, leveraging its leading brands to drive diverse revenue growth and industry-leading margins.
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