Bio-Rad's Q3 Earnings Miss Estimates, Revenues Surpass, Stock Falls

Core Insights - Bio-Rad Laboratories, Inc. reported Q3 2025 adjusted EPS of $2.26, missing estimates by 1.74% but showing an 11.9% increase year over year [1][8] - The company's revenues reached $653 million, exceeding expectations by 0.24% and reflecting a 0.5% year-over-year growth [3][8] - Bio-Rad's gross margin contracted by 219 basis points to 52.6%, while operating profit increased by 1.2% [5][8] Financial Performance - The GAAP loss was reported at $12.70 per share, a significant decline from EPS of $23.34 a year ago [2] - Gross profit decreased by 3.5% to $343.4 million, with operating expenses down 4.6% year over year [5] - Cash and cash equivalents at the end of Q3 were $1.42 billion, up from $1.37 billion at the end of Q2 [6] Segment Analysis - Life Science segment sales totaled $261.8 million, a 0.3% increase year over year, but down 1.5% at constant exchange rates [4] - Clinical Diagnostics segment net sales were $391.2 million, up 0.6% year over year, with a decline of 1.8% at constant exchange rates due to lower reimbursement rates in China [4] Guidance and Outlook - Bio-Rad reiterated its full-year 2025 guidance, projecting adjusted, currency-neutral revenue growth of approximately 0-1% [9] - The adjusted operating margin for the full year is expected to be between 12% and 13% [9] - The company anticipates a return to growth in the Diagnostics segment in Q4, with improvements expected from the quality controls portfolio [11]