Bio-Rad Laboratories Inc

BIO

Equity

ISIN US0905722072 / Valor 912793

New York Stock Exchange, Inc (2024-09-18)

USD 340.45+2.04%

Bio-Rad Laboratories Inc
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About company

Bio-Rad Laboratories Inc. is a global leader in the life science research and clinical diagnostics industry, providing a wide range of products and services to academic and private laboratories. The company offers innovative solutions for research, analysis, control, and process applications, helping customers find the tools they need to carry out their projects effectively. With a strong focus on quality and reliability, Bio-Rad Laboratories Inc. is a trusted partner for laboratories around the world.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Decline

Bio-Rad Laboratories Inc. reported revenue of $638.5 million for the second quarter of 2024, a decrease from $681.1 million in the same quarter of 2023. This decline reflects ongoing challenges in the market environment, particularly within the biotech and biopharma sectors.

Gross Margin Improvement

For the second quarter of 2024, Bio-Rad Laboratories Inc. achieved a non-GAAP gross margin of 56.4%, up from 54.4% in the second quarter of 2023. This improvement is attributed to ongoing supply chain initiatives and core process improvements.

Net Income Stability

Bio-Rad Laboratories Inc. reported a non-GAAP net income of $88.5 million for the second quarter of 2024, consistent with the $88.5 million reported in the same period of 2023. Earnings per diluted share increased slightly to $3.11 from $3.00 in the previous year.

Updated Financial Outlook

Bio-Rad Laboratories Inc. has updated its financial outlook for the full year 2024, now expecting a non-GAAP revenue decline of approximately 2.5% to 4.0% on a currency-neutral basis. This is a revision from the previous estimate of 1.0% to 2.5% revenue growth.

Share Repurchase Program

On July 29, 2024, Bio-Rad Laboratories Inc.'s board of directors authorized an increase in the 2023 Share Repurchase Program, allowing for the repurchase of up to an additional $500 million of the company’s outstanding common stock. As of July 31, 2024, approximately $578 million is available for repurchases under this program.

Summarized from source with an LLMView Source

Key figures

-7.42%1Y

-56.8%3Y

0.62%5Y

Performance

30.6%1Y

35.4%3Y

35.3%5Y

Volatility