Bio-Rad cuts 2026 outlook as Q1 net loss hits $527.1 million on investment value drop
Bio-Rad reported first-quarter 2026 net sales of $592.1 million, up 1.1% from a year earlier, but a $738.2 million loss from the change in fair market value of its equity securities and loan receivable led to a GAAP net loss of $527.1 million, or $19.55 per diluted share. The company also lowered its full-year 2026 non-GAAP outlook, which matters to shareholders because the currency-neutral revenue range and operating margin range both moved down.
Key points
- Q1 2026 net sales were $592.1 million, up 1.1%; currency-neutral sales fell 4.2%.
- GAAP net loss was $527.1 million, or $19.55 per diluted share, versus net income of $64.0 million, or $2.29, in Q1 2025.
- Non-GAAP diluted earnings per share were $1.89, versus $2.54 a year earlier; free cash flow was $78.1 million.
- 2026 outlook: currency-neutral revenue now a decline of about 3.0% to growth of about 0.5%, versus prior growth of 0.5% to 1.5%; non-GAAP operating margin now about 10.0% to 12.0%, versus prior 12.0% to 12.5%.
The filing
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 April 30, 2026.
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.