The 10-second takeaway
For the quarter ended March 31 (Q1), Bio-Rad Laboratories met expectations on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. GAAP earnings per share contracted significantly.
Margins dropped across the board.
Bio-Rad Laboratories logged revenue of $499.7 million. The four analysts polled by S&P Capital IQ predicted a top line of $504.6 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 $0.68. The three earnings estimates compiled by S&P Capital IQ predicted $1.08 per share. GAAP EPS of $0.68 for Q1 were 38% lower than the prior-year quarter's $1.09 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 54.3%, 300 basis points worse than the prior-year quarter. Operating margin was 6.7%, 450 basis points worse than the prior-year quarter. Net margin was 3.9%, 250 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $534.6 million. On the bottom line, the average EPS estimate is $1.24.
Next year's average estimate for revenue is $2.15 billion. The average EPS estimate is $5.20.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 178 members out of 187 rating the stock outperform, and nine members rating it underperform. Among 48 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 47 give Bio-Rad Laboratories a green thumbs-up, and one 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 $135.25.
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