Bio-Rad Labs (BIO) Misses Q3 EPS by 45c: provides outlook
Bio-Rad Labs (NYSE: BIO) reported Q3 EPS of $2.33, $0.45 worse than the analyst estimate of $2.78. Revenue for the quarter came in at $632.1 million versus the consensus estimate of $689.5 million.
Updated 2023 Financial Outlook
Bio-Rad is updating its financial outlook for full-year 2023. The company currently expects its non-GAAP revenue to decline by approximately 3.5 percent on a currency-neutral basis compared to its previous estimate of a 0.8 percent revenue growth. Bio-Rad also estimates a non-GAAP operating margin of about 14.5 percent versus the company’s prior estimate of approximately 16 percent. Excluding COVID-related sales, Bio-Rad estimates non-GAAP revenue growth to be between 0 and 0.5 percent on a currency-neutral basis compared to its prior expectation of approximately 4.5 percent.
For earnings history and earnings-related data on Bio-Rad Labs (BIO) click here.