Bio-Rad Laboratories Crushes Earnings Estimates
Bio-Rad Laboratories (NYS: BIO) reported earnings on Feb. 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Bio-Rad Laboratories missed estimates on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share dropped.
Gross margins increased, operating margins grew, and net margins shrank.
Bio-Rad Laboratories recorded revenue of $550.2 million. The five analysts polled by S&P Capital IQ expected net sales of $561.8 million on the same basis. GAAP reported sales were 3.1% higher than the prior-year quarter's $533.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $2.08. The five earnings estimates compiled by S&P Capital IQ anticipated $1.67 per share. GAAP EPS of $2.08 for Q4 were 14% lower than the prior-year quarter's $2.41 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 56.5%, 30 basis points better than the prior-year quarter. Operating margin was 15.6%, 100 basis points better than the prior-year quarter. Net margin was 10.8%, 190 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $482.5 million. On the bottom line, the average EPS estimate is $0.95.
Next year's average estimate for revenue is $2.14 billion. The average EPS estimate is $5.49.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 180 members out of 188 rating the stock outperform, and eight members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 57 give Bio-Rad Laboratories a green thumbs-up.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bio-Rad Laboratories is outperform, with an average price target of $120.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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