Bio-Rad Q2 revenue beats analyst estimates on clinical diagnostics growth
BIO•Outlook and key financial details
Bio-Rad reaffirmed its 2026 non-GAAP, currency-neutral revenue outlook of -3% to +0.5% and said it expects 2026 non-GAAP operating margin of about 10% to 12%.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Beat | $651 million | $623.99 million (4 analysts) |
| Q2 EPS | $13.85 | ||
| Q2 Net Income | $371.40 million | ||
| Q2 Gross Margin | 53.1% |
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell". The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy." Wall Street's median 12-month price target for Bio-Rad Laboratories Inc is $310.00, about 7.4% below its August 3 closing price of $334.71. The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 26 three months ago.
Quarterly results and business drivers
Bio-Rad said second-quarter revenue was flat year over year but beat analyst expectations, driven by growth in its Clinical Diagnostics segment.
- The US life science and diagnostics firm's Q2 revenue was flat yr/yr, beating analyst expectations.
- The company cited Life Science segment declines due to ongoing challenges in the academic research market.
- Bio-Rad repurchased about $32 million in shares during the quarter.
- Clinical Diagnostics sales rose, led by quality systems, diabetes and blood typing products, partly offset by lower infectious disease product sales.
- Digital PCR instrument revenue grew more than 20%.
