Bio-Techne Q3 Revenue Dips to $311.4M, EPS Mixed, Declares $0.08 Dividend
Bio-Techne reported third quarter revenue declined 2% year-over-year to $311.4 million with GAAP EPS rising to $0.32 and adjusted EPS falling to $0.53. The board also declared a quarterly dividend of $0.08 per share payable May 29 to shareholders of record on May 18.
1. Third Quarter Financial Results
Bio-Techne's third quarter net sales were $311.4 million, down 2% from the prior year due to timing of large GMP fast-track orders and reduced emerging biotech spending. GAAP operating income rose 95% to $75.5 million with EPS of $0.32, while adjusted operating income of $106.5 million delivered EPS of $0.53.
2. End-Market and Growth Vector Performance
Large pharma delivered the sixth consecutive quarter of double-digit growth, offset by low-single-digit growth in U.S. academic markets and continued lag in emerging biotech spending. Key growth vectors included mid-single-digit increases in Proteomic Analysis instruments, mid-teens growth in Spatial Biology, and nearly 50% growth in GMP proteins excluding fast-track customers.
3. Dividend Declaration
The board approved a quarterly dividend of $0.08 per share for the March quarter, payable May 29 to shareholders of record on May 18, underscoring the company’s commitment to returning capital to investors.