Hologic reported first-quarter earnings of $1.04 per share, missing the consensus estimate of $1.09 and growing only marginally from $1.03 a year earlier. Total revenue also came in below Wall Street projections, driven by softer demand in core diagnostic assays. While the company did not disclose absolute revenue figures in its release, management acknowledged the shortfall against analysts’ forecasts and revised its full-year revenue outlook down by approximately 1.5 percentage points.

In the quarter, Hologic’s gross margin contracted by 150 basis points compared with the year-ago period, reflecting higher manufacturing costs and lower absorption in its Diagnostics division. Revenue in Diagnostics declined mid-single digits, weighing on overall profitability. Conversely, GYN Surgical procedures surged over 10% year-over-year, driven by strong adoption of new minimally invasive devices in North America and Europe. The offset between segments underscores a mixed operational landscape, with Diagnostic headwinds partially mitigated by surgical growth.