Bio-Rad Laboratories (BIO) is falling after reporting Q1 2026 results and cutting its full-year 2026 outlook. The company now expects currency-neutral revenue growth of -3.0% to +0.5% and a non-GAAP operating margin of 10% to 12%, down from prior targets.
1. What’s moving the stock today
Bio-Rad Laboratories shares are lower as investors digest the company’s Q1 2026 report and a downward reset to full-year expectations. The key negative is the guidance cut: Bio-Rad now forecasts 2026 non-GAAP, currency-neutral revenue ranging from a ~3.0% decline to ~0.5% growth, and a non-GAAP operating margin of ~10% to 12%, reduced from its prior margin outlook of ~12% to 12.5%. (stocktitan.net)
For Q1 ended March 31, 2026, Bio-Rad posted net sales of $592.1 million, up 1.1% year over year, but down 4.2% on a currency-neutral basis, pointing to softer underlying demand. By segment, Life Science sales were $228.5 million (flat reported; -4.3% currency-neutral) and Clinical Diagnostics sales were $363.6 million (+1.9% reported; -4.1% currency-neutral). (stocktitan.net)
3. GAAP loss amplified by investment mark-to-market
Bio-Rad reported a GAAP net loss of $527.1 million (diluted EPS of -$19.55), driven mainly by a $738.2 million loss from changes in fair value of equity securities, including its Sartorius AG investment. On a non-GAAP basis, the company reported net income of $50.9 million and diluted EPS of $1.89, down from $2.54 a year earlier, reflecting weaker profitability and margin pressure even after excluding large investment swings. (stocktitan.net)
4. What management flagged as the drivers
Bio-Rad attributed the currency-neutral decline to pressure in both major segments, citing ongoing challenges in academic research markets (particularly in the Americas) and disruption tied to escalating regional conflict in the Middle East that weighed on Clinical Diagnostics demand. Those same headwinds are embedded in the reduced 2026 outlook, which investors are treating as the most actionable update from the quarter. (stocktitan.net)
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