BIO
Bio-Rad Laboratories, Inc.302.02
-5.90-1.92%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Process chrom vaccine headwinds detailed
Q&A unpacked process chromatography's mid-teens 2026 decline, citing late-year vaccine demand shortfalls from geographic shifts and commercial over-indexing to vaccines versus peers. ddPCR growth stemmed from QX700 instruments rising to one-third of sales from prior 20%, with Stilla adding mid-single-digit millions in Q4; ex-Stilla, Life Science turned slightly organic negative. Clinical Diagnostics' 1-2% guide reflects portfolio mix, not just China. Op margins take a 50bps chrom hit but gain QX700 leverage. Chrom recovery eyes low-single digits by 2027. Q&A largely affirmed prepared outlook. Watch chrom pipeline conversions.
Key Stats
Market Cap
8.15BP/E (TTM)
-Basic EPS (TTM)
-24.01Dividend Yield
0%Recent Filings
8-K
Sartorius 2025 results update
Bio-Rad updated its investment in Sartorius AG with the biopharma supplier's 2025 results under Item 7.01, showing €3,538.1M sales revenue, €542.6M EBIT, and €230.4M net profit. Sartorius generated €837.0M operating cash flow yet posted negative investing and financing flows. Bio-Rad shares no liability for Sartorius' IFRS figures.
10-K
FY2025 results
Bio-Rad's FY2025 net sales edged up 0.7% to $2.58B, with Clinical Diagnostics growing 1.6% while Life Science dipped 0.7%, both flat on currency neutral basis amid biotech funding woes and China reimbursement cuts. Gross margins slipped to 51.9% from higher material costs and inventory write-offs, yet operating cash flow surged to $532M on working capital gains. Q4 saw Sartorius stake rebound with $900M fair value gain driving $27.85 diluted EPS, but $173M IPR&D impairments hit Life Science and Clinical Diagnostics. Debt steady at $1.2B with $200M revolver available; $296M buybacks trimmed shares. International ops expose 60% sales to forex swings and trade barriers.
8-K
Q4 revenue up 3.9%
Bio-Rad posted Q4 revenue of $693.2M, up 3.9% YoY, fueled by 8.4% Clinical Diagnostics growth while Life Science dipped 2.6% from research funding woes. GAAP ops loss hit $118.9M after $172.8M intangible impairment, yet non-GAAP ops income held at $83.0M. Cash from ops soared to $532M yearly. Guides 2026 non-GAAP revenue up 0.5-1.5% currency neutral.
10-Q
Q3 FY2025 results
Bio-Rad's Q3 net sales edged up 0.5% y/y to $653.0M, with Life Science flat and Clinical Diagnostics up 0.6%, though currency neutral sales dipped 1.7% amid biotech funding squeezes and China reimbursement cuts. Gross margins slipped to 52.6% from 54.8%, hit by higher material costs and lower absorption, while operating income held steady at $65.3M. The quarter swung to a $341.9M net loss from $653.2M profit, driven by $495.3M fair-value losses on Sartorius holdings—net loss outpaced operating income by over 20% due to those changes and interest. Cash from operations hit $367.3M YTD, funding $218.5M Stilla buyout closed June 2025 for $257.7M (cash/contingent), adding $160.5M goodwill and $94.9M developed tech intangibles. Debt stands at $1.2B (3.3%/3.7% senior notes due 2027/2032), with $395.8M cash and full $200M revolver access. Bio-Rad stays liquid. Yet competition in diagnostics erodes pricing power.
8-K
Bio-Rad Q3 revenue edges up
Bio-Rad Laboratories reported Q3 2025 revenue of $653 million, up 0.5% from last year but down 1.7% on a currency-neutral basis, as constrained academic research and lower diabetes testing reimbursements in China pressured both life science and clinical diagnostics segments. Non-GAAP operating income rose to $77 million, aided by cost discipline, while a $495 million fair value loss on its Sartorius investment swung GAAP net income to a $342 million loss. Bio-Rad holds its full-year outlook for 0-1% currency-neutral revenue growth and 12-13% non-GAAP operating margin. Volatility in equity investments persists.
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