Bio-Rad Laboratories (NYSE:BIO) Announces Earnings Results

Key Points

• Bio‑Rad missed EPS expectations, reporting non‑GAAP EPS of $1.89 versus a $1.97 consensus while revenue rose 1.1% to $592.1M; GAAP showed a $527M net loss driven by a $562M fair‑value decline in its Sartorius equity stake, separating valuation swings from core results.
• The company tightened 2026 guidance — now projecting currency‑neutral revenue growth of -3% to +0.5%, full‑year non‑GAAP gross margin of 53–54% and operating margin of 10–12% — and warned the Middle East conflict and an ~$11M Q1 impact could materially pressure 2026 revenue and margins.
• Operational positives include 24% growth in ddPCR instrument revenue, the QX700 reaching >99% assay enablement and the Stilla acquisition expected to be accretive by mid‑year, while the balance sheet remains strong with $1.565B in cash/short‑term investments, $78M Q1 free cash flow and roughly $237M of buyback authorization remaining after $48M repurchased.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) posted its earnings results on Thursday. The medical research company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08), FiscalAI reports. Bio-Rad Laboratories had a net margin of 29.42% and a return on equity of 3.86%. The firm had revenue of $592.10 million during the quarter, compared to the consensus estimate of $589.89 million. During the same quarter in the prior year, the business posted $2.54 earnings per share. Bio-Rad Laboratories's revenue for the quarter was up 1.1% compared to the same quarter last year.

Here are the key takeaways from Bio-Rad Laboratories' conference call:

• Updated 2026 guidance tightened: the company now expects currency‑neutral revenue growth of -3% to +0.5%, full‑year non‑GAAP gross margin of 53–54% and operating margin of 10–12%, citing a ~$11M Q1 impact and an ongoing headwind from the Middle East conflict that could materially pressure revenue and margins for 2026.
• Digital PCR momentum: ddPCR instrument revenue grew 24% in Q1, the new QX700 has >99% of assays enabled ahead of plan, and the Stilla acquisition is on track to be accretive by mid‑year, supporting future consumables pull‑through and share gains.
• Accounting volatility: reported net loss of $527M was driven by a $562M fair‑value decline in the company's Sartorius equity stake, while non‑GAAP net income was $51M ($1.89 EPS), separating market valuation swings from core operating results.
• Operational efficiency initiatives include manufacturing select life‑science instruments In China for China, procurement and manufacturing rationalization, and R&D reprioritization toward higher‑return areas (digital PCR, oncology assays and embedded AI) to improve agility and margins.
• Balance sheet and capital allocation: Q1 free cash flow was $78M, cash and short‑term investments were $1.565B, the company repurchased ~$48M of stock in the quarter and has ~$237M remaining under its buyback authorization.

Bio-Rad Laboratories Trading Up 1.6%

Shares of NYSE BIO traded up $4.50 during trading on Thursday, reaching $279.65. The company had a trading volume of 650,153 shares, compared to its average volume of 246,573. The company's fifty day moving average price is $277.81 and its 200-day moving average price is $298.20. Bio-Rad Laboratories has a 12 month low of $211.43 and a 12 month high of $343.12. The stock has a market cap of $7.55 billion, a P/E ratio of 10.02 and a beta of 1.16. The company has a quick ratio of 4.19, a current ratio of 5.62 and a debt-to-equity ratio of 0.16.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BIO shares. Wall Street Zen downgraded Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Citigroup downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and cut their target price for the stock from $375.00 to $300.00 in a research report on Tuesday, April 7th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $339.75.

Institutional Trading of Bio-Rad Laboratories

Institutional investors have recently added to or reduced their stakes in the stock. Meeder Advisory Services Inc. increased its position in shares of Bio-Rad Laboratories by 9.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 813 shares of the medical research company's stock worth $246,000 after buying an additional 67 shares during the period. Itau Unibanco Holding S.A. grew its holdings in Bio-Rad Laboratories by 57.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company's stock worth $60,000 after acquiring an additional 72 shares during the period. Geneos Wealth Management Inc. grew its holdings in Bio-Rad Laboratories by 115.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company's stock worth $34,000 after acquiring an additional 76 shares during the period. Empowered Funds LLC raised its position in shares of Bio-Rad Laboratories by 5.2% in the 4th quarter. Empowered Funds LLC now owns 1,571 shares of the medical research company's stock worth $476,000 after acquiring an additional 78 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Bio-Rad Laboratories by 1.9% in the fourth quarter. Stifel Financial Corp now owns 4,355 shares of the medical research company's stock worth $1,320,000 after purchasing an additional 83 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.

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