On October 13, 2020 IAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported preliminary sales and adjusted earnings per share (EPS) results for the third quarter of 2020 (Press release, Qiagen, OCT 13, 2020, View Source [SID1234568401]).

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Net sales grew 26% at actual rates, and also rose 26% at constant exchange rates (CER), to $481.3 million from $382.7 million in the same period of 2019 – a higher rate than the outlook for the third quarter of 2020 for 16-21% CER sales growth announced on July 13, 2020.

The better-than-expected results reflect both ongoing significant demand for solutions used in COVID-19 testing, as well as significantly improved customer demand trends in other areas of the portfolio from the second quarter of 2020, with non-COVID 19 product sales declining at a mid-single-digit CER rate compared to the third quarter of 2019. Among specific products, sales of the QuantiFERON-TB test for tuberculosis detection declined 20% CER to about $53 million compared to a 46% CER year-over-year decline in the second quarter of 2020.
Preliminary adjusted EPS results for the third quarter of 2020 are for approximately $0.58 CER – a 61% increase from adjusted EPS of $0.36 in the third quarter of 2019 and at the high end of the outlook for about $0.52-0.58 CER, also as announced on July 13, 2020.

Based on exchange rates on September 30, 2020, QIAGEN expects currency movements against the U.S. dollar (reporting currency) to have a positive impact on results for the third quarter of 2020 of less than one percentage point on net sales at actual rates and less than $0.01 on adjusted EPS.
Full results for the third quarter and first nine months of 2020 remain scheduled for publication on November 4, 2020, and for a conference call to be held as planned on November 5, 2020.