Hologic Inc. (NASDAQ: HOLX) announced its preliminary revenue results for the first quarter ended December 30, 2023. The company's stock moved -2.7% in response to the news and is currently trading at $70.96 per share.
Steve MacMillan, Hologic's Chairman, President and Chief Executive Officer, commented on the results, stating: "We are pleased with our strong start to fiscal 2024, as our team continued to execute well against our growth strategy. Our diverse portfolio of products, including new product launches, drove better than expected revenue performance in the first quarter."
The company's 8-K submission reveals that the preliminary revenue for the first quarter exceeded expectations, and management is optimistic about the outlook for the remainder of fiscal 2024.
The full 8-K submission can be accessed here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $3,218 | $3,367 | $3,776 | $5,632 | $4,863 | $4,030 |
| Revenue Growth | n/a | 4.64% | 12.15% | 49.14% | -13.66% | -17.12% |
| Operating Margins | -7% | -4% | 28% | 44% | 34% | 17% |
| Net Margins | -3% | -6% | 30% | 33% | 27% | 11% |
| Net Income (MM) | -$111 | -$204 | $1,115 | $1,872 | $1,302 | $456 |
| Net Interest Expense (MM) | $149 | $141 | $116 | $94 | $95 | -$111 |
| Depreciation & Amort. (MM) | $102 | $92 | $83 | $88 | $89 | $90 |
| Earnings Per Share | -$0.4 | -$0.76 | $4.21 | $7.21 | $5.13 | $246772.0 |
| EPS Growth | n/a | -90.0% | 653.95% | 71.26% | -28.85% | 4810270.37% |
| Diluted Shares (MM) | 272 | 270 | 262 | 256 | 249 | 249 |
| Free Cash Flow (MM) | $674 | $592 | $798 | $2,212 | $2,055 | $959 |
| Capital Expenditures (MM) | $58 | $57 | $98 | $118 | $71 | $92 |
| Current Ratio | 1.3 | 1.57 | 2.46 | 2.74 | 4.21 | 3.47 |
| Total Debt (MM) | $5,832 | $5,855 | $5,478 | $5,780 | $5,635 | $5,349 |
| Net Debt / EBITDA | -40.5 | -174.88 | 3.88 | 1.7 | 1.91 | 3.47 |
Hologic has growing revenues and increasing reinvestment in the business and exceptional EPS growth. Additionally, the company's financial statements display decent operating margins with a positive growth rate and irregular cash flows. Furthermore, Hologic has significant leverage.
