Bio-Rad posts Q1 net loss on Sartorius AG investment loss, cuts 2026 outlook

Overview

• US diagnostics supplier's Q1 sales rose 1.1%, slightly beating analyst expectations

• Company posted large GAAP net loss on Sartorius AG investment loss

• Bio-Rad cut 2026 revenue growth outlook to range from -3% to +0.5%

Outlook

• Bio-Rad now sees 2026 non-GAAP, currency-neutral revenue declining 3.0% to growing 0.5%

• Company lowers 2026 non-GAAP operating margin outlook to 10.0-12.0% from 12.0-12.5%

Result Drivers

• ACADEMIC MARKET WEAKNESS - Co said Life Science segment sales were hurt by ongoing challenges in the academic research market, especially in the Americas

• MIDDLE EAST CONFLICT - Co said Clinical Diagnostics segment sales declined on a currency-neutral basis due to recent escalation of regional conflicts in the Middle East

• INVESTMENT LOSS - Co said large GAAP net loss was mainly due to change in fair market value of Sartorius AG investment

Company press release: ID:nBw3mLk9sa

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."

• Wall Street's median 12-month price target for Bio Rad Laboratories Inc is $320.00, about 16.3% above its April 29 closing price of $275.15

• The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 30 three months ago

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