04:48 PM EDT, 04/29/2024 (MT Newswires) -- Qiagen ( QGEN ) reported Q1 adjusted earnings Monday of $0.46 per diluted share, down from $0.51 per share a year earlier.

Analysts polled by Capital IQ expected $0.44.

Net sales for the quarter ended March 31 declined to $458.8 million from $485.4 million a year earlier. Analysts surveyed by Capital IQ expected $456.9 million.

For Q2, the company expects adjusted EPS of at least $0.52 at constant exchange rates on net sales of at least $495 million. Analysts polled by Capital IQ expect adjusted earnings of $0.52 on revenue of $501.1 million.

For 2024, Qiagen ( QGEN ) reiterated its outlook of adjusted EPS of at least $2.10 and net sales of at least $2 billion. Analysts expect normalized EPS of $2.11 on revenue of $2.01 billion.

Qiagen ( QGEN ) shares fell nearly 8% in after-hours activity.

Price: 39.00, Change: -3.30, Percent Change: -7.80