Bio-Techne Q4 revenue rises 3%, beats estimates
TECH•Acquisition context
Bio-Techne previously announced an agreement to be acquired by Merck KGaA for $73 per share.
Outlook and drivers
The company did not provide specific financial guidance or outlook commentary.
Adjusted operating margin benefited from ongoing profitability initiatives, according to the company. Margin improvement was also aided by the divestiture of Exosome Diagnostics, while unfavorable product mix partially offset margin gains.
Revenue and earnings
Bio-Techne said fiscal fourth-quarter revenue grew 3% year over year, topping analyst expectations.
Adjusted earnings per share for the fiscal fourth quarter matched analyst expectations and declined slightly year over year.
Key figures and analyst view
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q4 Revenue | Beat | $321.19 mln | $314.68 mln (11 Analysts) |
| Q4 Adjusted EPS | Meet | $0.52 | $0.52 (11 Analysts) |
| Q4 EPS | $0.35 | ||
| Q4 Net Income | $54.62 mln | ||
| Q4 Operating Expenses | $137.12 mln | ||
| Q4 Operating income | $74.28 mln | ||
| Q4 Pretax Profit | $70.68 mln |
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell".
