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Dec 31, 2021
Bio-Rad Q4 2021 Earnings Report
Reported a decrease in net sales and a net loss due to changes in the fair market value of equity securities.
Key Takeaways
Bio-Rad reported Q4 2021 net sales of $732.8 million, a 7.2% decrease compared to Q4 2020. The company experienced a net loss of $1,573.7 million, or $52.59 per share, compared to a net income of $839.1 million, or $27.81 per share in the same period last year. COVID-related revenue was approximately $46 million, versus $132 million in 2020.
Net sales decreased by 7.2% compared to Q4 2020.
Life Science segment net sales decreased by 23.8% compared to the same period in 2020, primarily due to lower qPCR product revenue.
Clinical Diagnostics segment net sales increased by 12.6% compared to the same period in 2020, driven by recovery of routine testing.
Net loss was $1,573.7 million, or $52.59 per share, compared to net income of $839.1 million, or $27.81 per share in 2020.
Revenue by Segment
Forward Guidance
Bio-Rad anticipates non-GAAP currency-neutral revenue growth of approximately 1.0 to 2.0 percent and an estimated non-GAAP operating margin of approximately 19.0 percent for the full year 2022.
Positive Outlook
- Anticipates another year of progress in 2022.
- Building on the operating efficiencies achieved in 2021.
- Well positioned to build on recent momentum.
- Continuing to return to normalcy.
- Executing growth strategies.
Challenges Ahead
- Regional COVID upswings still persist.
- COVID upswings can impact supply chain.
- COVID upswings can impact order flow.
- Future gains or losses associated with certain legal matters are difficult to predict.
- Acquisitions and restructuring activities are difficult to estimate.
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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