10-Q · May 5, 2026
QuidelOrtho reported Q1 2026 revenue of $619.8 million, missing analyst estimates of $650.95 million, representing an 11% decline year-over-year. Diluted EPS showed a loss of $0.04, far worse than the expected gain of…
Earnings analysis · 10-Q
QDEL earnings analysis
Filed November 3, 2026 · Our reading of the company's report
The latest report
QuidelOrtho delivered a mixed third quarter: revenue of $618.9 million declined approximately 1.9% sequentially and 11.6% year over year, while adjusted diluted EPS of $0.31 exceeded the $0.18 consensus estimate.…
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QuidelOrtho delivered a mixed third quarter: revenue of $618.9 million declined approximately 1.9% sequentially and 11.6% year over year, while adjusted diluted EPS of $0.31 exceeded the $0.18 consensus estimate. Underlying revenue excluding Respiratory, China, and U.S. Donor Screening increased 2.3%, but Point of Care revenue fell 27.3% to $119.6 million and GAAP diluted EPS was negative $0.78. Management narrowed full-year 2026 revenue and adjusted EBITDA guidance, reducing the outlook’s high ends to $2.54 billion and $545 million, respectively. The filing states there was no material change in previously disclosed risk factors.
Reported figures
- Earnings per share
- $-0.78
- Segment
- Point of Care revenue: $119.6 million, down 27.3% year over year
- Segment
- Underlying revenue excluding Respiratory, China, and U.S. Donor Screening: up 2.3% reported
What stood out
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Revenue Declined Sequentially and Year Over Year
Q3 revenue was $618.9 million, down from $631 million in Q2 2026 and $700 million in Q3 2025, representing sequential and year-over-year declines of approximately 1.9% and 11.6%, respectively.
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Adjusted EPS Beat Consensus
Adjusted diluted EPS was $0.31 versus the $0.18 consensus estimate, a $0.13 beat; GAAP diluted EPS was negative $0.78.
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Underlying Business Grew
Underlying revenue excluding Respiratory, China, and U.S. Donor Screening grew 2.3% on a reported basis, indicating growth in the remaining business despite lower total revenue.
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Point of Care Was a Major Headwind
Point of Care revenue fell 27.3% year over year to $119.6 million, making it the most significant disclosed segment headwind.
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Full-Year Outlook Was Narrowed
Full-year 2026 revenue guidance now tops out at $2.54 billion, versus a prior high end of $2.60 billion, while the adjusted EBITDA high end declined from $560 million to $545 million.
What to watch
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Point of Care Demand Weakness
Point of Care revenue declined 27.3% year over year to $119.6 million, creating a material drag on consolidated revenue and signaling continued weakness in this business.
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Lowered Full-Year Outlook
Full-year revenue guidance was reduced from a $2.60 billion high end to $2.54 billion, while adjusted EBITDA guidance was reduced from a $560 million high end to $545 million.
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GAAP Loss Despite Adjusted Profit
GAAP diluted EPS was negative $0.78 despite adjusted diluted EPS of $0.31, indicating a substantial gap between adjusted performance and reported profitability.
Management's outlook
Full-year 2026 revenue guidance was narrowed to $2.52 billion-$2.54 billion from $2.52 billion-$2.60 billion. Adjusted EBITDA guidance was narrowed to $540 million-$545 million from $540 million-$560 million, with adjusted EBITDA margin now approximately 21% versus 21%-22% previously.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.