Why Bio-Rad Laboratories Stock Slipped by More Than 3% on Thursday

Core Insights - Bio-Rad Laboratories reported its third-quarter earnings, achieving revenue of $653 million, which represents a modest year-over-year increase of 0.5%. Net income, on a non-GAAP basis, rose by 8% to just under $61 million, translating to an adjusted earnings per share of $2.26. Despite these results beating analyst expectations, the stock experienced a decline of over 3% following the report, which was more significant than the S&P 500's 0.9% drop [1][2][3][6]. Financial Performance - Revenue for Q3 was $653 million, a slight increase of 0.5% year-over-year [2]. - Non-GAAP net income increased by 8% to just under $61 million, with an adjusted earnings per share of $2.26 [2]. - Analyst consensus had projected revenue of $652.2 million and adjusted earnings of $1.95 per share, indicating that Bio-Rad's performance exceeded these expectations [3]. Market Reaction - The stock market reacted negatively to Bio-Rad's earnings report, leading to a decline of over 3% in its share price, despite the company beating both revenue and earnings estimates [1][6]. Future Guidance - Bio-Rad maintained its guidance for 2025, forecasting revenue growth to be flat to 1% above the 2024 results. The company also indicated that its adjusted operating margin is expected to be between 12% and 13% [3].