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Dec 31, 2020
Bio-Rad Q4 2020 Earnings Report
Bio-Rad's Q4 2020 financial results were announced, showing significant revenue growth driven by COVID-19 related products and a damages award.
Key Takeaways
Bio-Rad reported a strong Q4 2020 with a 26.5% increase in net sales compared to Q4 2019. The growth was largely driven by high demand for COVID-19 related products and a damages award. The company's Life Science segment experienced substantial growth, while the Clinical Diagnostics segment saw a decrease in sales.
Net sales increased by 26.5% compared to Q4 2019, reaching $789.8 million.
Life Science segment net sales increased by 77.1%, driven by COVID-19 related products.
Clinical Diagnostics segment net sales decreased by 5.1% due to lower demand from the COVID-19 pandemic.
Net income for the quarter was $839.1 million, or $27.81 per share, on a diluted basis.
Revenue by Segment
Forward Guidance
For the full year 2021, the company anticipates non-GAAP currency-neutral revenue growth of approximately 4.5 to 5.0 percent and an estimated non-GAAP operating margin of approximately 16.0 to 16.5 percent.
Positive Outlook
- Anticipates another year of progress in 2021
- Building on the operating efficiencies achieved this year
- Expects the pandemic to continue well into 2021
- Expects a gradual recovery in end markets as the year progresses
- Anticipates non-GAAP currency-neutral revenue growth of approximately 4.5 to 5.0 percent
Challenges Ahead
- Pandemic to continue well into 2021
- Non-GAAP operating margin excludes 105 basis points related to amortization of purchased intangibles
- Forecasted non-GAAP operating margin does not reflect future gains and charges that are inherently difficult to predict and estimate due to their unknown timing, effect and/or significance
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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