Healthcare diagnostics product supplier Bio-Rad Laboratories (BIO 4.65%) notched twin beats in its just-released third quarter, but that wasn't enough for a choosy stock market. Investors sold out of the company's shares in the wake of that earnings report to leave it with an over 3% loss on Thursday. This was a steeper fall than the 0.9% decline of the benchmark S&P 500 index.
Modest improvements
Bio-Rad's Q3 saw the company book $653 million in revenue, which was very modestly (0.5%) higher on a year-over-year basis. Net income not according to generally accepted accounting principles (GAAP) rose at a slightly higher rate, advancing by 8% to just under $61 million. On a per-share basis, that non-GAAP (adjusted) bottom line figure was $2.26.
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Although Bio-Rad didn't post explosive growth, those numbers were high enough to beat the consensus analyst estimates. Collectively, prognosticators following the company had anticipated its top line would land at $652.2 million and adjusted net income would be $1.95 per share.
In the company's earnings release, it attributed the thin growth numbers to tightening biotech funding and "ongoing challenges in academic research."
NYSE: BIO
Key Data Points
Guidance maintained
It doesn't appear as if those roadblocks are going to disappear in the proximate future. Bio-Rad maintained its guidance for the entirety of 2025 in which it's forecasting revenue growth flat to 1% above the 2024 result. Its adjusted operating margin should fall at 12% to 13%, the company added.
