Bio-Rad Q2 net loss $1.16B on investment swings; lowers FY2023 outlook on softer biopharma demand

BIO-RAD LABORATORIES, INC.

2024-Q2 EPS reported -$37.09 revenue$1,357,954,000

Net sales $681.1M, down 1.4% (0.3% currency-neutral); ex-COVID revenue up 4.6% currency-neutral.
Life Science segment sales $300.2M (-6.9%); ex-COVID growth 4.5% driven by ddPCR/qPCR.
Clinical Diagnostics sales $380.1M (+3.3%); ex-COVID growth 4.8% on diagnostic systems and quality control.
Operating income $89.6M vs $122.9M; net loss $1,162.3M ($39.59/sh) primarily from Sartorius AG fair value changes.
CEO lowers FY2023 expectations due to softer demand from large biopharma and persistent early-stage biotech weakness.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BIO-RAD LABORATORIES, INC. reported the second quarter ended June 30, 2023 results: revenue $681.1 million, net income $1,162.3 million, EPS $39.59 per share. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $681.1 million
Net income: $1,162.3 million
EPS: $39.59 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Second-quarter 2023 net sales were $681.1 million, a decrease of 1.4 percent compared to $691.1 million reported for the second quarter of 2022.

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Source: SEC EDGAR

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