Bio-Rad Q4 sales down 6.7% YoY; Life Science segment declines 19.1%

BIO-RAD LABORATORIES, INC.

2023-FY EPS reported -$21.82 revenue$2,671,300,000

Q4 net sales $681.2M, down 6.7% YoY; currency-neutral sales down 7.7%.
Life Science segment sales $291.1M, down 19.1% YoY on broad-based weakness.
Clinical Diagnostics segment sales $389.0M, up 5.3% YoY on diabetes and quality control demand.
Net income $349.7M ($12.14 diluted EPS) vs $827.7M ($27.78) a year ago, impacted by Sartorius fair value changes.
CEO cites ongoing biopharma weakness; expects gradual recovery in H2 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

BIO-RAD LABORATORIES, INC. reported the quarter ended December 31, 2023 results: revenue $681.2 million, net income $349.7 million, EPS $12.14 per share, on a diluted basis.

Period: the quarter ended December 31, 2023
Revenue: $681.2 million
Net income: $349.7 million
EPS: $12.14 per share, on a diluted basis
Result: reported results

Exact text from the filing

Bio-Rad Laboratories, Inc. (NYSE: BIO and BIO.B), a global leader in life science research and clinical diagnostics products, today announced financial results for the fourth quarter and full year ended December 31, 2023. Fourth-quarter 2023 total net sales were $681.2 million, a decrease of 6.7 percent compared to $730.3 million reported for the fourth quarter of 2022. On a currency-neutral basis, quarterly sales decreased 7.7 percent compared to the same period in 2022. COVID-related sales were approximately $0.3 million in the fourth quarter of 2023 versus approximately $13.4 million in the year ago period. Excluding COVID-related sales, revenue decreased 6.0 percent on a currency-neutral basis. Life Science segment net sales for the fourth quarter were $291.1 million, a decline of 19.1 percent compared to the same period in 2022. On a currency-neutral basis, Life Science segment sales decreased by 19.9 percent compared to the same quarter in 2022. Excluding COVID-related sales, Lif

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Source: SEC EDGAR

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