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Mar 31, 2020
Bio-Techne Q3 2020 Earnings Report
Bio-Techne's Q3 2020 performance reflected resilience amidst the COVID-19 pandemic, with organic revenue growth and adjusted EPS increase.
Key Takeaways
Bio-Techne reported a 5% increase in net sales to $194.7 million for Q3 2020, with organic growth of 6%. GAAP EPS decreased to $0.92, while adjusted EPS increased to $1.39. The company highlighted its role in combating COVID-19 and maintained a strong financial position.
Organic revenue increased by 6% to $194.7 million.
GAAP EPS was $0.92, while adjusted EPS reached $1.39.
Adjusted Operating Margin increased to 36.4%.
The company is actively involved in developing COVID-19 solutions.
Revenue by Segment
Forward Guidance
The company anticipates customer site shutdowns to negatively impact sales while they remain in effect, but also expects long-term positive sales growth due to increased funding in life-science research in response to the pandemic. They also expect short and long term impacts of COVID-19 on adjusted EPS to be similar to that of sales growth.
Positive Outlook
- Positive long-term outlook for future sales growth from expected future funding increases within life-science research in response to the current pandemic
- Company has responded to COVID-19 by developing resources for SARS-CoV-2 detection, cytokine monitoring, and drug discovery
- The Company continues to pursue available opportunities to partner in the fight against COVID-19
- Company remains in a strong financial position with sufficient available cash
- Company remains fully operational
Challenges Ahead
- COVID-19 negatively impacted sales growth during the third quarter of fiscal year 2020 due to numerous customer site shutdowns
- Customer site shutdowns will continue to have a negative impact on sales while they remain in effect
Historical Earnings Impact
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Avg. Return Before/After Earnings
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