NYSE$BIO
Bio-Rad Laboratories Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported a decrease in total net sales but an increase in clinical diagnostics segment net sales, impacted by weakness in biotech and biopharma end-markets.
Bio-Rad's first quarter results were largely in line with expectations, with total net sales decreasing by 9.8 percent compared to the same period in 2023. The life science segment was impacted by ongoing weakness in the biotech and biopharma markets, while increased demand for clinical diagnostics products drove year-over-year growth for this business.
- Total net sales were $610.8 million, a decrease of 9.8 percent compared to Q1 2023.
- Life Science segment net sales decreased by 25.3 percent compared to Q1 2023.
- Clinical Diagnostics segment net sales increased by 4.7 percent compared to Q1 2023.
- Net income for the first quarter of 2024 was $383.9 million, or $13.45 per share, on a diluted basis.
Headline financials
Revenue & EPS history
Bio-Rad · Revenue · Quarterly
$611M
Revenue by segment
Bio-Rad · $632M total across 2 segments · Q3 2023
- Clinical Diagnostics Group$368M+1.7%58.3%
- Life Science Group$264M-17.1%41.7%
Forward guidance
Bio-Rad is maintaining its financial outlook for the full year 2024 and continues to expect non-GAAP, currency-neutral revenue growth of approximately 1.0 to 2.5 percent and an estimated non-GAAP operating margin of approximately 13.5 to 14.0 percent.
Tailwinds
- The company continues to expect non-GAAP, currency-neutral revenue growth of approximately 1.0 to 2.5 percent.
- Company expects an estimated non-GAAP operating margin of approximately 13.5 to 14.0 percent.
Headwinds
- Reductions in government funding or capital spending of our customers.
- Global economic and geopolitical conditions.
- The uncertain pace of the biopharma sector’s recovery.
- The challenging macroeconomic environment in China.
- Supply chain issues.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.9%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+0.3%
Avg return
30 days after
54%
37 / 68 earnings
Positive
+20.0%
Q3 2017
Best reaction
-16.9%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.6% | -7.5% | +11.3% | |
| Q4 2025 | -12.3% | -7.4% | -10.1% | |
| Q3 2025 | -4.7% | -2.7% | +1.7% | |
| Q1 2025 | -1.9% | -3.3% | -5.6% | |
| Q4 2024 | -9.5% | -7.4% | -16.9% | |
| Q3 2024 | +8.0% | +11.2% | +2.7% | |
| Q2 2024 | -0.7% | -3.4% | -0.3% | |
| Q1 2024 | -4.9% | +0.0% | +2.5% | |
| Q4 2023 | +3.8% | +4.8% | +1.7% | |
| Q3 2023 | -6.7% | -5.1% | +7.3% | |
| Q2 2023 | -0.9% | -0.2% | -2.3% | |
| Q1 2023 | -16.9% | -20.9% | -19.7% | |
| Q4 2022 | +4.9% | +1.7% | +2.0% | |
| Q3 2022 | -10.1% | -9.1% | +2.5% | |
| Q2 2022 | +3.0% | +0.2% | -9.4% | |
| Q1 2022 | +2.2% | -0.0% | +9.2% | |
| Q4 2021 | -1.2% | -3.1% | -16.8% | |
| Q3 2021 | +3.9% | +1.9% | -1.9% | |
| Q2 2021 | +4.7% | +5.6% | +12.2% | |
| Q1 2021 | -2.9% | -7.8% | -7.2% | |
| Q4 2020 | +4.8% | +2.8% | -11.4% | |
| Q3 2020 | +4.8% | +7.5% | -4.4% | |
| Q2 2020 | -1.1% | -0.7% | -6.0% | |
| Q1 2020 | +3.9% | +6.2% | +2.1% | |
| Q4 2019 | +7.5% | +8.5% | -7.4% | |
| Q3 2019 | +2.3% | +1.1% | +7.2% | |
| Q2 2019 | +6.7% | +1.9% | +7.2% | |
| Q1 2019 | +3.9% | -0.5% | -2.6% | |
| Q4 2018 | +15.8% | +14.0% | +11.6% | |
| Q3 2018 | -1.1% | +2.2% | +0.6% | |
| Q2 2018 | +0.3% | +1.4% | +0.4% | |
| Q1 2018 | +8.3% | +11.9% | +16.6% | |
| Q4 2017 | +4.7% | +2.0% | -3.0% | |
| Q3 2017 | +20.0% | +20.4% | +23.4% | |
| Q2 2017 | -4.7% | -7.4% | -8.2% | |
| Q1 2017 | -0.8% | +1.4% | +3.8% | |
| Q4 2016 | +0.1% | +1.5% | +4.6% | |
| Q3 2016 | +4.8% | +4.2% | +10.4% | |
| Q2 2016 | +6.1% | +5.2% | +3.5% | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | +4.8% | — | — | |
| Q3 2015 | -0.6% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | +4.3% | — | — | |
| Q4 2014 | +7.8% | — | — | |
| Q3 2014 | -1.9% | — | — | |
| Q2 2014 | +5.0% | — | — | |
| Q1 2014 | -3.2% | — | — | |
| Q4 2013 | -1.6% | — | — | |
| Q3 2013 | -0.9% | — | — | |
| Q2 2013 | -2.5% | — | — | |
| Q1 2013 | -1.0% | — | — | |
| Q4 2012 | +5.3% | — | — | |
| Q3 2012 | +0.3% | — | — | |
| Q2 2012 | +7.3% | — | — | |
| Q1 2012 | -2.1% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q2 2011 | -0.4% | — | — | |
| Q3 2011 | +2.2% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q1 2010 | +1.0% | — | — | |
| Q4 2008 | -1.3% | — | — | |
| Q4 2010 | -1.3% | — | — | |
| Q3 2010 | +0.4% | — | — | |
| Q3 2009 | +0.4% | — | — | |
| Q4 2009 | +0.3% | — | — | |
| Q2 2009 | +0.3% | — | — | |
| Q2 2010 | +0.3% | — | — |
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