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Sep 30, 2020
Bio-Rad Q3 2020 Earnings Report
Reported a 15.5% increase in net sales, driven by strong performance in the Life Science segment, which was partially offset by a decrease in the Clinical Diagnostics segment due to the COVID-19 pandemic.
Key Takeaways
Bio-Rad Laboratories reported a strong third quarter with a 15.5% increase in net sales to $647.3 million. The Life Science segment saw significant growth driven by PCR product lines, while the Clinical Diagnostics segment experienced a decline. Net income was $1,314.8 million, or $43.64 per share, compared to a net loss in the same period last year.
Third-quarter net sales increased by 15.5% to $647.3 million compared to Q3 2019.
Life Science segment sales increased by 50.2%, driven by COVID-19 related demand for PCR product lines.
Clinical Diagnostics segment sales decreased by 5.7% due to lower demand resulting from the COVID-19 pandemic.
Net income for the quarter was $1,314.8 million, or $43.64 per share.
Bio-Rad
Bio-Rad
Bio-Rad Revenue by Segment
Revenue by Segment
Life Science Revenue
CapyFin.comClinical Diagnostics Revenue
CapyFin.com Forward Guidance
Bio-Rad expects full-year 2020 currency-neutral sales to be up 5.9% to 6.3% with a non-GAAP operating margin of 16.0% to 16.5%.
Positive Outlook
- Full-year 2020 currency-neutral sales may be up 5.9 to 6.3 percent
- Expects to generate significantly higher operating profit over 2019
- Remain focused on our core strategies
- Contributions in response to the pandemic
- Expect a gradual improvement in our end-markets
Challenges Ahead
- COVID-19 situation is still unpredictable
- Duration, severity and impact of the COVID-19 pandemic
- Global economic conditions
- Foreign currency exchange fluctuations
- Supply chain issues
Revenue & Expenses
Visualization of income flow from segment revenue to net income