Bio-Techne(US:TECH)2026-02-04 11:30Revenue and Sales Performance - Second quarter revenue was $295.9 million, with reported and organic growth flat compared to the prior year[7]. - The Protein Sciences segment reported net sales of $215.1 million, a 2% increase from $211.6 million in the same quarter last year[12]. - The Diagnostics and Spatial Biology segment's net sales were $81.2 million, a decrease of 4% from $84.1 million year-over-year[13]. - Total consolidated net sales for the quarter were $295,877 thousand, slightly down from $297,031 thousand in the previous year, indicating a decrease of 0.4%[27]. - The Protein Sciences segment revenue for the quarter was $215,084 thousand, a slight increase from $211,551 thousand in the previous year, showing a growth of 1.2%[34]. - The Diagnostics and Spatial Biology segment revenue for the quarter was $81,180 thousand, down from $84,135 thousand in the same quarter of 2024, representing a decline of 3.5%[34]. Earnings and Profitability - GAAP earnings per share (EPS) increased to $0.24 from $0.22 year-over-year, while adjusted EPS rose to $0.46 from $0.42[9][10]. - Adjusted operating margin improved to 31.1%, an increase of 100 basis points compared to the prior year period[7]. - GAAP operating income increased 15% to $54.5 million compared to $47.4 million in the same quarter last year[9]. - Adjusted EBITDA for the quarter was $103,415 thousand, compared to $96,111 thousand in the same quarter of 2024, reflecting an increase of 7.4%[27]. - Non-GAAP adjusted net earnings for the quarter were $72,114 thousand, compared to $68,127 thousand in the same quarter of 2024, an increase of 4.4%[32]. - Earnings per share - diluted - Adjusted for the quarter was $0.46, up from $0.42 in the same quarter of 2024, indicating a growth of 9.5%[32]. Tax and Financial Position - The GAAP effective tax rate for the quarter was 25.2%, an increase from 18.6% in the same quarter of 2024[30]. - Total assets as of December 31, 2025, were $2,522,699 thousand, a decrease from $2,557,868 thousand as of June 30, 2025[38]. - Net earnings for the quarter ended December 31, 2025, were $38,009 thousand, an increase from $34,890 thousand in the same quarter of 2024, representing a growth of 6.4%[25]. - Net earnings for the six months ended December 31, 2025, increased to $76,194 million from $68,490 million in 2024, representing a growth of approximately 10.5%[40]. Cash Flow and Investments - Net cash provided by operating activities decreased to $109,996 million from $148,235 million, a decline of about 25.6%[40]. - Cash and cash equivalents at the end of the period were $172,879 million, compared to $177,549 million at the end of the previous period, reflecting a decrease of approximately 2.8%[40]. - The company reported a net cash used in investing activities of $5,316 million, a significant improvement from $26,716 million in the previous period[40]. - Cash dividends paid were $24,914 million, slightly down from $25,424 million, indicating a stable dividend policy[40]. - The effect of exchange rate changes on cash and cash equivalents resulted in a decrease of $797 million, highlighting currency impact on financial results[40]. Strategic Initiatives and Company Outlook - The company generated over $1.2 billion in net sales in fiscal 2025, with approximately 3,100 employees worldwide[14]. - The company celebrates its 50th anniversary in 2026, emphasizing its commitment to innovation and growth[4]. - Ongoing productivity and cost containment initiatives contributed to the improved operating margins across segments[10]. - The company’s non-GAAP financial measures aim to provide greater transparency and facilitate period-to-period comparisons of operational results[41]. - The adjusted operating margin excludes acquisition-related expenses and restructuring costs, which are not reflective of normal operating costs[44]. - The company’s investment in Spear Bio was recorded as a $15,000 million expense in the previous period, indicating strategic investment activities[40].