Earnings ·
Reports Q3 revenue of $619M, initiates restructuring expected to deliver over $80M in annual savings
QDELQuidelOrtho Corp
QuidelOrtho reported third-quarter total revenue of $619 million, a 12% decline from the prior year period. Excluding respiratory, China, and U.S. Donor Screening businesses, underlying revenue grew 2%. The company announced a cost transformation and enterprise restructuring program designed to evolve its operating model around Core Diagnostics and Point of Care Diagnostics segments. This initiative is expected to generate over $80 million in annual savings by 2027, with approximately $30 million to $35 million in one-time restructuring charges recorded in the fourth quarter of 2026. Concurrently, QuidelOrtho updated its full-year 2026 adjusted diluted EPS guidance to a range of $0.65 to $0.70 and appointed new heads for its two primary business units while eliminating the Chief Operations Officer role. The company operates in the global diagnostics industry, providing clinical chemistry, immunoassay, immunohematology, and molecular testing solutions.