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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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. 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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