Hologic forecasts lower-than-expected annual sales on equipment shipping halt

Hologic

04/11/2024 23:23

Nov 4 (Reuters) -    Medical technology company Hologic  HOLX.O  said on Monday it
anticipates annual revenue below average analysts' estimates, hurt by ongoing temporary pause on
shipping of its bone density scanning machines.
    The Marlborough, Massachusetts-based company manufactures and supplies viral load tests,
molecular diagnostics assays, medical imaging systems and surgical products focused on women's
health.
    Shares of the company fell 2.05% to $82 in extended trading. 
    The company expects 2025 revenue in range of $4.15 billion to $4.20 billion, below average
analysts' estimate of $4.21 billion.
    The company said its full-year forecast included an expected impact from ongoing temporary
halt in shipping of its bone density scanning machine, Horizon DXA systems.
    Sales for the skeletal health business — which includes X-ray systems and other products
that help with minimally invasive surgical procedures — totalled $12.7 million, below analysts'
estimates of $15.1 million, according to data compiled by LSEG.
    However, the company expects to resume shipping of Horizon DXA systems in the latter half of
first quarter.
    The recent IV fluid shortage from hurricanes will hurt the company's elective breast and
surgical procedures, impacting its diagnostics products sale, Hologic's CFO Karleen Oberton said
in the earnings call.
    Hologic also forecast annual adjusted profit per share in range of $4.25-$4.35, with its
mid-point in line with analysts' expectations.
    On an adjusted basis, Hologic posted a profit of $1.01 per share, in line with analysts'
estimates. Hologic also beat sales expectations for the fourth quarter.

 (Reporting by Sruthi Narasimha Chari in Bengaluru; editing by Alan Barona)
 ((mailto:SruthiNarasimha.Chari@thomsonreuters.com))