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Hologic(HOLX) - 2020 Q1 - Earnings Call Transcript
2020-01-30 04:01
Financial Data and Key Metrics Changes - Total revenue for Q1 2020 was $850.5 million, representing a 2.8% growth year-over-year, slightly above guidance [13][39] - Organic revenue growth was 4.6%, outperforming previous guidance of 1.2% to 3% [13][39] - EPS for the quarter was $0.61, at the high end of guidance despite losses from the divested Cynosure business [14][39] - Gross margins decreased to 61.6%, down 60 basis points year-over-year, primarily due to Cynosure's performance and product mix [41][102] - Operating margin was 27.5%, a decrease of 170 basis points, while net margins increased to 19.3%, up 40 basis points [43] Business Line Data and Key Metrics Changes - Surgical division revenue grew by 10.2%, marking the fastest growth in 11 quarters, driven by MyoSure and new product launches [30][36] - Diagnostics revenue increased by 5.5%, with Molecular sales growing 9% year-over-year [24][25] - Breast Health sales totaled $331.1 million, a 2.4% increase, with growth impacted by a tough prior year comparison [17][18] - GYN Surgical sales reached $119.1 million, driven by core products and new innovations [30] Market Data and Key Metrics Changes - Domestic sales were $632.7 million, up 1.8%, while international sales were $217.8 million, up 6% [15] - International Molecular sales increased by 22.2%, reflecting strong growth in women's health tests and viral load assays [25] - Core U.S. sales have maintained a low double-digit growth rate over the past three years, with expectations to continue this trend [15] Company Strategy and Development Direction - The company aims to focus on women's health, leveraging its strong cash flow for growth-accretive acquisitions and share buybacks [11][35] - The divestiture of Cynosure allows the company to concentrate on its core businesses, enhancing operational focus and forecasting ability [10][60] - The company plans to pursue smaller, division-led acquisitions to enhance its existing commercial channels [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the core businesses, raising guidance for organic revenue growth to 4% to 5% for the year [49] - The company anticipates continued strong performance in Surgical and Molecular Diagnostics, with optimism about international growth opportunities [36][56] - Management acknowledged the challenges posed by the prior year comparisons but remains positive about the growth trajectory [36][108] Other Important Information - The company executed a $205 million accelerated share repurchase program and plans an additional $500 million repurchase program [40] - The leverage ratio stood at 2.5x, with a comfortable range expected between 2.5 and 3x [45] Q&A Session Summary Question: Impact of Cynosure divestiture on focus - Management noted that while the core U.S. businesses were not significantly distracted, senior management was focused on Cynosure, and the divestiture allows for increased focus on core operations [60] Question: Organic revenue growth guidance related to Cynosure - Management indicated that the upward revision in guidance reflects increased confidence in core businesses rather than a significant drag from Cynosure [67] Question: Performance of Molecular business and flu season impact - Management stated that the flu season did not significantly benefit the Panther Fusion respiratory assays, as the business remains small [69] Question: Acceleration of growth by segment - Management highlighted that growth acceleration is primarily seen in the Surgical and Diagnostics segments [73] Question: International market share and growth potential - Management expressed optimism about the long-term growth potential in international markets, indicating significant runway for expansion [87] Question: Margin improvement initiatives - Management emphasized ongoing efforts to improve operating margins through supply chain efficiencies and strategic investments [96]
Hologic(HOLX) - 2020 Q1 - Quarterly Report
2020-01-29 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 28, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to HOLOGIC, INC. (Exact name of registrant as specified in its charter) ________________________ ...
Hologic (HOLX) Presents At 38th Annual J.P. Morgan Healthcare Conference - Slideshow
2020-01-14 19:42
Reintroducing a Unique Asset in Women's Health Steve MacMillan Chairman, President and CEO 38th Annual J.P. Morgan Healthcare Conference January 13, 2020 1 Safe Harbor Statement This presentation contains forward-looking information that involves risks and uncertainties, including statements about the Company's plans, objectives, expectations and intentions. Such statements include, without limitation: financial or other information based upon or otherwise incorporating judgments or estimates relating to fu ...
Hologic(HOLX) - 2019 Q4 - Annual Report
2019-11-27 12:48
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: September 28, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-36214 _________________________________________________ ...
Hologic(HOLX) - 2019 Q4 - Earnings Call Transcript
2019-11-07 04:42
Hologic, Inc. (NASDAQ:HOLX) Q4 2019 Results Conference Call November 6, 2019 4:30 PM ET Company Participants Mike Watts - Vice President of Investor Relations and Corporate Communications Steve MacMillan - Chairman, President and Chief Executive Officer Karleen Oberton - Chief Financial Officer Conference Call Participants Tycho Peterson - JPMorgan Bill Quirk - Piper Jaffray Jack Meehan - Barclays Ivy Ma - Bank of America Merrill Lynch Chris Lin - Cowen Mason Austen - Morgan Stanley Anthony Petrone - Jeffer ...
Hologic(HOLX) - 2019 Q3 - Quarterly Report
2019-07-31 20:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-36214 __________________________________________________________ HOLOGI ...
Hologic(HOLX) - 2019 Q2 - Quarterly Report
2019-05-01 20:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q (Mark One) ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 30, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-36214 __________________________________________________________ Holog ...
Hologic(HOLX) - 2019 Q1 - Quarterly Report
2019-01-30 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-Q Hologic, Inc. (Mark One) (Exact name of registrant as specified in its charter) __________________________________________________________ (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 250 Campus Drive, Marlborough, Massachusetts 01752 (Address of principal executive offices) (Zip Code) Delaware 04-2902449 ý QUARTER ...