Bio-Rad Laboratories Outruns Estimates Again

Bio-Rad Laboratories (NYSE: BIO  ) reported earnings on Feb. 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Bio-Rad Laboratories beat expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share dropped significantly. GAAP earnings per share contracted significantly.

Margins contracted across the board.

Revenue details
Bio-Rad Laboratories booked revenue of $573.8 million. The three analysts polled by S&P Capital IQ expected sales of $552.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.55. The two earnings estimates compiled by S&P Capital IQ predicted $1.26 per share. Non-GAAP EPS of $1.55 for Q4 were 25% lower than the prior-year quarter's $2.08 per share. GAAP EPS of $1.65 for Q4 were 21% lower than the prior-year quarter's $2.08 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 55.9%, 60 basis points worse than the prior-year quarter. Operating margin was 12.6%, 300 basis points worse than the prior-year quarter. Net margin was 8.3%, 250 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $498.6 million. On the bottom line, the average EPS estimate is $1.23.

Next year's average estimate for revenue is $2.13 billion. The average EPS estimate is $5.36.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 180 members out of 190 rating the stock outperform, and 10 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, and give it a red thumbs-down.

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 $113.00.

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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 of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. 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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