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Jun 30, 2020
Bio-Rad Q2 2020 Earnings Report
Reported a decrease in net sales but an increase in net income, significantly impacted by changes in the fair market value of equity securities.
Key Takeaways
Bio-Rad Laboratories reported a decrease in second-quarter net sales by 6.2% compared to the previous year, while net income increased significantly due to the recognition of changes in the fair market value of equity securities. The COVID-19 pandemic had both positive and negative impacts on the company's business operations. The company is not providing annual guidance due to the uncertainty.
Second-quarter net sales decreased by 6.2% to $536.9 million compared to 2019.
Life Science segment net sales increased by 18.7%, driven by PCR, Droplet Digital PCR, and Process Media products.
Clinical Diagnostics segment net sales decreased by 20.7% across all regions and products.
Net income increased to $966.4 million, or $32.15 per share, primarily due to changes in the fair market value of equity securities.
Revenue by Segment
Forward Guidance
The company believes that the third quarter 2020 year-over-year currency-neutral sales may be flat to up 5 percent.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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