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AI brief of an SEC Form 8-K · Bio-Rad Laboratories (BIO)

Bio-Rad Q1 sales fall 9.8% to $610.8 million; full-year 2024 outlook maintained

Negative Impact 3 of 5 earnings Written later

Bio-Rad reported first-quarter 2024 net sales of $610.8 million, down 9.8% from a year earlier, with Life Science sales down 25.3% and Clinical Diagnostics up 4.7%. GAAP net income rose to $383.9 million, or $13.45 per diluted share, mainly due to a $422.2 million gain on equity securities tied to its Sartorius AG holding, while non-GAAP net income fell to $65.2 million, or $2.29 per share, from $3.34 a year earlier.

Key points

  • Net sales $610.8 million vs. $676.8 million in Q1 2023, a 9.8% decline; Life Science down 25.3%, Clinical Diagnostics up 4.7%
  • Income from operations $44.7 million vs. $61.9 million; non-GAAP operating margin 9.7% vs. 12.4%
  • GAAP net income $383.9 million ($13.45 per diluted share) vs. $69.0 million ($2.32), driven by changes in the fair market value of Sartorius AG-related equity securities
  • Full-year 2024 outlook maintained: non-GAAP currency-neutral revenue growth of approximately 1.0% to 2.5% and non-GAAP operating margin of approximately 13.5% to 14.0%

The filing

CompanyBio-Rad Laboratories (BIO)
Form8-K, current report
Filed with the SECMay 7, 2024, 4:18 PM ET
Accession number0000012208-24-000036

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.