Qiagen N.V. 2026年第二季度初步看法：营收和利润超预期，由样本技术驱动；2026年指引重申

研报英文原文证据摘录

J P M O R G A N

North America Equity Research

05 August 2026

Qiagen N.V.

2Q26 First Take: Top- and Bottom-line Beat Led by

Sample Tech; 2026 Guide Reiterated

Overweight

QGEN, QGEN US

Price (05 Aug 26):$41.95

Life Science Tools & Diagnostics

QIAGEN (QGEN) reported (Press Release/Presentation) 2Q26 revenues and adj.

EPS that came in above the Street, while the company reiterated its 2026 revenue

and adj. EPS guidance. 2Q net sales came in at $535M (vs. Street of $528M), which

translates to flat CER growth (vs. Street of -1.9% CER and guide of -2.0% CER

growth), while adj. EPS came in at $0.62 CER (vs. Street of $0.60 and guide of

≥$0.60 CER). In the PR, the company highlighted that its growth pillars

collectively grew +5.0% CER, led by Sample Technologies (with consumables

growing +HSD CER and instruments growing +MSD CER), along with solid

growth from QIAcuity and QDI. Turning to the other pillars, QuantiFERON grew

+1.0% CER, with the company pointing to the expected significant decline in U.S.

immigration testing demand, while QIAstat-Dx sales also faced a tough respiratory

testing comp.

Casey Woodring AC

(1-212) 622-9074

Marta Nazarovets Zaremba

(1-212) 622-6046

Jaden Rismay

(1-212) 622-8479

J.P. Morgan Securities LLC

Looking ahead, QGEN reiterated its 2026 revenue growth guidance of +1.0-2.0%

CER (vs. Street of +1.3% CER) and its adj. EPS guide of ≥$2.43 CER (vs. Street

of $2.43). Notably, the company reiterated that it expects stronger sales in 2H26,

supported by new product launches and the absence of the discontinued NeuMoDx

and Dialunox portfolios, while assuming “modest improving trends” in U.S. life

sciences funding. Turning to 3Q, QGEN is now calling for total net sales growth

of ~+1.0-2.0% CER (vs. Street of +3.1%) and adj. EPS of ≥$0.62 CER (vs. Street

of $0.64). On the call tomorrow, we’ll look for more color related to 2H

expectations per product group, end-market trends seen in the quarter, particularly

in U.S. A&G, and updated expectations for new product launches.

Please note, due to the discrepancy between Bloomberg estimates and Vara analyst

consensus listed on QGEN’s investor relations page, we will be referring to the

…