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Mar 31, 2020
Bio-Rad Q1 2020 Earnings Report
Reported a revenue increase despite challenges from the coronavirus pandemic.
Key Takeaways
Bio-Rad reported a 3.2% increase in net sales for Q1 2020 compared to Q1 2019, with significant impacts from changes in the fair market value of equity securities. The company is withdrawing its previously issued annual guidance due to uncertainties related to the COVID-19 pandemic.
Net sales increased by 3.2% to $571.6 million compared to Q1 2019.
Life Science segment net sales increased by 5.3% compared to the same period in 2019.
Clinical Diagnostics segment net sales increased by 1.9% compared to the same period in 2019.
Net income for the first quarter of 2020 was $685.9 million, or $22.72 per share on a diluted basis.
Revenue by Segment
Forward Guidance
Due to the uncertainties regarding the duration and impact of the COVID-19 pandemic, Bio-Rad is withdrawing its previously issued annual guidance for this year and anticipate second-quarter year-over-year sales may decline by 10 to 15 percent.
Positive Outlook
- Bio-Rad is well-positioned in a number of key areas.
- Responsiveness to the current crisis has allowed Bio-Rad to quickly introduce products that are finding value in diagnosing and understanding COVID-19.
Challenges Ahead
- Uncertainties regarding the duration and impact of the COVID-19 pandemic.
- Second-quarter year-over-year sales may decline by 10 to 15 percent.
- The balance of this year is not as predictable as prior years.
- Risks related to the ability to develop and market new or improved products.
- Exposure to foreign currency exchange fluctuations and global economic conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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