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Dec 31, 2022
Bio-Rad Q4 2022 Earnings Report
Bio-Rad's Q4 2022 earnings decreased slightly due to decline in COVID related revenue, but was offset by strong growth in the Life Science segment and operational improvements.
Key Takeaways
Bio-Rad Laboratories reported a slight decrease in net sales for Q4 2022, with growth in the Life Science segment offset by a decline in the Clinical Diagnostics segment. The company saw a significant increase in net income compared to the previous year, primarily due to changes in the fair market value of equity securities.
Q4 net sales decreased by 0.3% year-over-year to $730.3 million.
COVID-related revenue declined to approximately $13 million compared to $46 million in the same period last year.
Life Science segment net sales increased by 10.1% year-over-year to $359.7 million.
Net income for the quarter was $827.7 million, or $27.78 per share, compared to a net loss of $1,572.2 million in the same period last year.
Revenue by Segment
Forward Guidance
Bio-Rad anticipates non-GAAP, currency-neutral revenue growth of approximately 6.0 to 7.0 percent and an estimated non-GAAP operating margin of approximately 19.5 percent for the full year 2023.
Positive Outlook
- Operational scale
- Operational improvements
- Continued innovation
- Strong markets
- Markets have largely recovered from the pandemic
Challenges Ahead
- Foreign currency fluctuations
- Future gains or losses associated with certain legal matters
- Acquisitions
- Restructuring activities
- inherently difficult to predict and estimate due to their unknown timing
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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