Bio-Rad Q3 revenue up 2.8% to $649.7M; net income $653.2M on Sartorius gain

BIO-RAD LABORATORIES, INC.

2024-Q3 EPS reported -$39.89 revenue$1,899,025,000

Net sales $649.7M, +2.8% YoY; currency-neutral +3.4%; Clinical Diagnostics grew 5.6% to $388.8M.
Life Science segment sales $260.9M, -1.0% YoY, citing ongoing biotech/biopharma weakness.
Income from operations fell to $64.5M from $90.9M; net income surged to $653.2M ($23.34 EPS) on Sartorius fair value change.
Gross margin improved to 54.8% from 53.1% YoY; effective tax rate 24.2%.
Appointed Jon DiVincenzo as President and COO; CEO cites gradual biopharma recovery and new leadership.

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