Bio-Techne beats revenue estimates on research, diagnostics demand uptick
TECH•Revenue tops estimates on research and diagnostics growth
Aug. 12 (Reuters) - Bio-Techne beat Wall Street estimates for fourth-quarter revenue on Wednesday, helped by growth in its research and diagnostics businesses.
Here are some details:
- Bio-Techne is in the process of being acquired by Germany's Merck KGaA MRCG.DE in a deal valued at about $11.3 billion, including debt.
- "We ended fiscal 2026 with improved performance and solid execution across the business," Bio-Techne CEO Kim Kelderman said.
- Revenue in the Protein Sciences segment, Bio-Techne's largest business supplying proteins, antibodies and research reagents, rose 2.1% to $231.2 million in the quarter from a year earlier.
- Revenue in the Diagnostics and Spatial Biology segment, which provides spatial biology products, diagnostic tests and laboratory quality-control products, rose 0.5% to $90.1 million.
- Quarterly revenue of $321.2 million topped analysts' average estimate of $314.7 million.
- Adjusted earnings were 52 cents per share, in line with analysts' estimate.
