Bio-Rad Sales Rise 0.5% as Non-GAAP EPS Reaches $2.65

Bio-Rad Laboratories, Inc., a supplier of life-science research and clinical diagnostics products, posted $656.4 million in third-quarter sales, up 0.5% from a year earlier, as its diagnostics business grew and its life-science unit contracted.

Sales for the quarter ended Sept. 30 were $653.0 million in the year-earlier period. Revenue increased 0.7% on a currency-neutral basis.

GAAP net income was $458.6 million, or $17.02 per diluted share, compared with a net loss of $341.9 million, or $12.70 per diluted share, a year earlier. A change in the fair market value of Bio-Rad’s investment in Sartorius AG substantially contributed to the latest quarter’s net income.

Non-GAAP net income was $71.5 million, or $2.65 per diluted share, compared with $60.8 million, or $2.26 per diluted share, in the year-earlier quarter. The non-GAAP figure is a per-share measure calculated under the company’s non-GAAP methodology. The income statement included a $49.8 million impairment of purchased intangibles, and Bio-Rad recorded a GAAP operating loss of $49.7 million.

Clinical Diagnostics sales rose 2.7% to $401.8 million, or 2.8% on a currency-neutral basis. Life Science sales fell 2.8% to $254.6 million, or 2.4% on a currency-neutral basis.

CEO Norman Schwartz said, “We returned to currency-neutral revenue growth, led by Clinical Diagnostics and strong demand for our Droplet Digital™ PCR instruments.”

Bio-Rad kept its 2026 outlook for non-GAAP currency-neutral revenue, which ranges from a decline of about 3% to growth of about 0.5%. Its forecast for a non-GAAP operating margin remains about 10% to 12%.