Bio-Rad Q1 2021 Earnings Report
Key Takeaways
Bio-Rad Laboratories reported a significant increase in first-quarter net sales, driven by growth in both the Life Science and Clinical Diagnostics segments. Net sales increased by 27.1% compared to the same period in 2020, with a notable contribution from products supporting COVID-19 research and testing. The company's profitability also improved, with a higher operating margin and net income.
First-quarter net sales increased by 27.1% to $726.8 million compared to $571.6 million in Q1 2020.
Life Science segment net sales increased by 61.3%, driven by qPCR, Western Blotting, Droplet Digital PCR, and Process Media products.
Clinical Diagnostics segment net sales increased by 5.4%, primarily driven by Diabetes and Quality Controls products in the Asia Pacific region.
Net income for the first quarter was $977.4 million, or $32.38 per share, compared to $685.9 million, or $22.72 per share, in the same period last year.
Bio-Rad
Bio-Rad
Bio-Rad Revenue by Segment
Forward Guidance
The company has updated its guidance and now anticipates non-GAAP currency-neutral revenue growth of approximately 5.5 to 6.0 percent and an estimated non-GAAP operating margin of approximately 17.0 percent for the full year 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income