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Sep 30, 2021
Bio-Rad Q3 2021 Earnings Report
Bio-Rad's third-quarter performance reflected strength across many product lines.
Key Takeaways
Bio-Rad Laboratories reported a 15.4% increase in net sales for the third quarter of 2021, reaching $747.0 million compared to $647.3 million in the same period of 2020. The company's income from operations rose to $156.8 million, and net income reached $3,928.0 million, or $129.96 per share. Non-GAAP net income was $112.2 million, or $3.71 per share.
Third-quarter net sales increased by 15.4% to $747.0 million compared to the same period in 2020.
Life Science segment net sales increased by 15.3% to $373.5 million compared to the same period in 2020.
Clinical Diagnostics segment net sales increased by 15.5% to $372.2 million compared to the same period in 2020.
Net income for the third quarter of 2021 was $3,928.0 million, or $129.96 per share on a diluted basis.
Revenue by Segment
Forward Guidance
The company has updated its guidance for the full year 2021 and now anticipates non-GAAP currency-neutral revenue growth between 12 to 13 percent and an estimated non-GAAP operating margin of approximately 19.5 percent.
Positive Outlook
- Anticipates non-GAAP currency-neutral revenue growth between 12 to 13 percent
- Estimates a non-GAAP operating margin of approximately 19.5 percent
- The company expects to generate improved operating profit over 2020
Challenges Ahead
- Guidance does not reflect future gains and charges that are inherently difficult to predict
- Future gains or losses associated with certain legal matters, acquisitions and restructuring activities are not reflected in the guidance
- Foreign currency fluctuations are not reflected in the guidance
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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