QuidelOrtho Corporation (QDEL) reported a significant decline in financial performance for Q1 2026, attributing a 43.3% year-over-year drop in respiratory revenue to lower demand amidst a milder U.S. respiratory season. This resulted in respiratory revenue of $67.9 million, contributing to an overall revenue decline of 10.5% to $619.8 million for the quarter.
The company also faced an adjusted loss of 4 cents per share compared to adjusted earnings of 74 cents per share in the same period last year. Additionally, adjusted gross margin contracted by 630 basis points to 43.8%, highlighting the company’s vulnerability to fluctuations in respiratory testing demand. QDEL carries a Zacks Rank of #5 (Strong Sell), with projected revenue declines of 1.8% and earnings per share declines of 5.2% for 2026.
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