Bio-Rad Laboratories, Inc. (NYSE:BIO) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Bio-Rad Laboratories, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 28.99% to $1.20 in the quarter versus EPS of $1.69 in the year-earlier quarter.
Revenue: Rose 2.86% to $525 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bio-Rad Laboratories, Inc. reported adjusted EPS income of $1.20 per share. By that measure, the company missed the mean analyst estimate of $1.25. It missed the average revenue estimate of $532.6 million.
Quoting Management: “In spite of continued softness in some markets and currency headwinds in the short term, we continue our investment in new products and systems,” said Norman Schwartz, Bio-Rad Chief Executive Officer. “These investments build on our technology base and will provide us with greater operating leverage for the future.”
Key Stats (on next page)…
Revenue increased 5.07% from $499.67 million in the previous quarter. EPS increased 76.47% from $0.68 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.24 to a profit $1.28. For the current year, the average estimate has moved up from a profit of $5.06 to a profit of $5.20 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)