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.
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 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.
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.
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.
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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