Hologic cuts annual revenue forecast on weak demand for breast health products

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(Reuters) – Hologic lowered its fiscal 2025 revenue forecast, citing weakness in sales of its breast health products, sending the company’s shares down 5% after the bell on Wednesday.

The company manufactures and supplies viral load tests, molecular diagnostics assays, medical imaging systems and surgical products focused on women’s health.

Ongoing saline shortage, caused by hurricane-related disruptions at a key facility, could affect some of the company’s breast and surgical procedures in the second quarter.

Hologic cut its annual sales forecast for fiscal 2025 to a range of $4.05 billion to $4.10 billion, compared with its prior forecast of $4.15 billion to $4.20 billion.

Analysts were expecting annual sales of $4.16 billion.

Hologic has also been facing delays in its shipment of skeletal health products since late in the third quarter due to a temporary halt as some products did not conform to certain standards.

The company said it resumed some shipments in December.

Still, Hologic’s diagnostics business, its largest by revenue, reported sales of $470.6 million, compared with the average analyst estimate of $461 million, according to data compiled by LSEG.

The company’s total revenue rose marginally to $1.02 billion in the first quarter, in line with estimates.

Hologic’s skeletal health business reported first-quarter revenue of $15.8 million, down 37.8%.

The company maintained its annual adjusted profit forecast of $4.25 to $4.35 per share. Analysts were expecting a profit of $4.26.

(Reporting by Unnamalai L in Bengaluru; Editing by Alan Barona and Shounak Dasgupta)