Published on 7 May 2024 on GuruFocus.com via Yahoo Finance
Bio-Rad Laboratories Inc (BIO) Q1 2024 Earnings: Mixed Results Amid Market Challenges
Revenue: Reported $610.8 million, a decrease of 9.8% year-over-year, falling short of estimates of $619.09 million.Net Income: Surged to $383.9 million, significantly exceeding the estimate of $361.35 million, primarily due to fair market value changes in equity securities.Earnings Per Share (EPS): Achieved $13.45 per diluted share, surpassing the estimate of $2.15.Gross Margin: Slightly decreased to 53.4% from 53.5% year-over-year.Income from Operations: Declined to $44.7 million from $61.9 million in the previous year.Clinical Diagnostics Segment: Grew by 4.7% to $368.6 million, driven by increased demand for specific diagnostic products.Life Science Segment: Experienced a significant sales decrease of 25.3% to $241.7 million, reflecting ongoing market challenges.
Warning! GuruFocus has detected 5 Warning Sign with BIO.
