OTTAWA (dpa-AFX) - Qiagen N.V. (QGEN) reported that its first quarter net income rose to $90.76 million or $0.41 per share from $80.67 million or $0.36 per share in the same quarter last year.
Quarterly adjusted earnings per share was $0.55 compared to $0.46 in the prior year. At constant exchange rates, adjusted earnings per share were $0.56 up 22% from last year. Analysts expected the company to report earnings of $0.51 per share for the first quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased to $483.46 million from $458.80 million in the prior year. Analysts expected revenue of $476.78 million for the quarter.
QIAGEN announced that its Supervisory Board will propose the initiation of an annual cash dividend under an amended dividend policy to QIAGEN's shareholders at the next Annual General Meeting scheduled for June 26, 2025. The initial dividend payment would consist of $0.25 per ordinary share. This proposal represents a total payout of about $54 million. The record date is currently planned for July 2, 2025, and the payment date as July 10, 2025.
The company announced its intention to seek shareholder authorization for a new $500 million share repurchase.
For the second quarter of 2025, net sales are expected to rise at least 5% CER, with the core business also growing at least 5% CER, compared to $496 million in Q2 2024. Adjusted earnings per share is projected to be at least $0.60 CER, an increase from $0.55 in the year-ago period.
For 2025, net sales are reaffirmed to rise about 4% CER, including about 5% CER growth in the core business, excluding revenues from discontinued products. Adjusted earnings per share are also reaffirmed to be about $2.35 CER, reflecting the increased outlook announced in April 2025, and including expected headwinds from the U.S. and China import tariffs and a better-than-expected tax environment.
The company announced that its Supervisory Board intends to elect Stephen Rusckowski to succeed Lawrence A. Rosen as Chairman of the Supervisory Board following its Annual General Meeting on June 26, 2025.
Rusckowski joined the Supervisory Board in 2023 and currently serves as Chair of the Nomination & Governance Committee. Most recently, he served as Chairman, President and CEO of Quest Diagnostics and previously as CEO of Philips Healthcare.
Additionally, Elaine Mardis has also decided not to stand for re-election to the Supervisory Board. All other current members of the Supervisory Board - Metin Colpan, Toralf Haag, Ross Levine, Bert Van Meurs, Eva van Pelt, Eva Pisa, and Elizabeth Tallett - will stand for re-election to serve one-year terms.
Following the AGM, the Supervisory Board will consist of eight members, reflecting the implementation of a plan announced in 2024 to streamline its size and return to a composition consistent with historical levels.
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