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Qiagen Lifts Q4, FY Outlook; To Expand Supervisory Board

Qiagen N.V. (QGEN) said it raised its fourth-quarter and full-year 2020 outlook. It expects another strong performance in 2021. The company will expand its supervisory board.

For the fourth-quarter, the company now expects adjusted earnings per share to be in the range of $0.64-0.65 at constant exchange rates, and sales of at least 32% CER growth. Previously, it expected adjusted earnings per share of $0.58-$0.60 at CER, and net sales growth of about 24%-27% at CER. Analysts polled by Thomson Reuters expect the company to report earnings of $0.62 per share for the fourth-quarter. Analysts' estimates typically exclude special items.

The company now projects full-year 2020 adjusted earnings per share to reach $2.13-$2.14 at CER, net sales growth of about 22% CER. Analysts expect annual earnings of $2.05 per share. Previously, the company expected adjusted earnings per share to be $2.07- $2.09 at CER and sales growth of about 20% at constant exchange rates from the 2019 level of $1.53 billion.

The company now expects full-year 2021 net sales to grow 18-20% CER from the midpoint of the anticipated range for full-year 2020 net sales results. Adjusted earnings per share is now expected to be $2.42-2.46 CER. Analysts expect annual earnings of $2.40 per share.

In addition, the company said that its supervisory board plans to expand the number of members from the current level of six.

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