Qiagen (QGEN) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 rose 2% year-over-year to $492 million on a reported basis, but declined 1% at constant exchange rates (CER), reflecting mixed sales trends across the portfolio.

• Adjusted diluted EPS was $0.54 (CER), matching the outlook, while reported diluted EPS was $0.33, down 20% from Q1 2025.

• Profitability remained strong with an adjusted operating income margin of 27.4%, despite investments and external headwinds.

Financial highlights

• Net sales: $492 million (+2% reported, -1% CER year-over-year).

• Adjusted operating income: $135 million (-7% year-over-year); adjusted operating margin: 27.4%.

• Net income: $68 million (-25% year-over-year); diluted EPS: $0.33 (-20% year-over-year).

• Adjusted diluted EPS: $0.54 (-2% year-over-year).

• Free cash flow: $54 million, down from $96 million in Q1 2025.

Outlook and guidance

• Full-year 2026 net sales growth expected at 1-2% CER (revised down from at least 5%).

• Adjusted diluted EPS for 2026 expected to be at least $2.43 CER (previously at least $2.50).

• Q2 2026 net sales expected to decline ~2% CER year-over-year; adjusted diluted EPS at least $0.60 CER.

• Stronger growth anticipated in the second half of 2026, driven by new product launches and improved QuantiFERON trends.