Bio-Rad Q3 net sales down 7.1% YoY to $632.1M; lowers full-year 2023 outlook

BIO-RAD LABORATORIES, INC.

2023-Q3 EPS reported -$33.63 revenue$1,990,078,000

Net sales $632.1M, down 7.1% YoY; currency-neutral decline 7.9%; COVID sales dropped to $0.3M from $17.2M.
Life Science segment sales $263.5M, down 17.1% YoY (currency-neutral -17.8%); diagnostics segment up 1.7%.
Net income $106.3M ($3.64 diluted EPS) vs net loss of $162.8M ($5.48 loss) in prior year, driven by Sartorius fair value changes.
Operating income $90.9M vs $94.6M; gross margin 53.1% vs 54.7%.
CEO cites further deterioration in biopharma/biotech spending and China challenges; full-year FY2023 outlook lowered.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BIO-RAD LABORATORIES, INC. reported the third quarter ended September 30, 2023 results: revenue $632.1 million, net income $106.3 million, EPS $3.64 per share. Guidance lowered.

Period: the third quarter ended September 30, 2023
Revenue: $632.1 million
Net income: $106.3 million
EPS: $3.64 per share
Guidance: lowered
Result: preliminary results

Exact text from the filing

life science research and clinical diagnostic products, today announced financial results for the third quarter ended September 30, 2023. Third-quarter 2023 total net sales were $632.1 million, a decrease of 7.1 percent compared to $680.8 million reported for the third quarter of 2022. On a currency-neutral basis, quarterly sales decreased 7.9 percent compared to the

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Source: SEC EDGAR

accession 0000012208-23-000068

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