Bio-Rad Narrows 2026 Operating Margin Target to Upper Half of Range

Bio-Rad Laboratories, Inc. now expects its 2026 non-GAAP operating margin to be in the upper half of a 10% to 12% range, sharpening its target after third-quarter sales edged higher.

The narrower expectation follows third-quarter results that retained the full operating margin range. Bio-Rad maintained its non-GAAP gross-margin range of 53% to 54%.

Its non-GAAP currency-neutral revenue outlook remains a decline of about 3% to growth of about 0.5% for the year. Bio-Rad kept its free cash flow estimate at about $290 million to $340 million. The narrower operating-margin target remains within the original 10% to 12% range.

Bio-Rad generated $656.4 million in third-quarter sales, 0.5% more than a year earlier. Clinical Diagnostics revenue rose 2.7% to $401.8 million, while Life Science revenue fell 2.8% to $254.6 million.