Bio-Rad Laboratories, Inc. (BIO - Free Report) posted first-quarter 2021 adjusted earnings per share (EPS) of $5.21, which surpassed the Zacks Consensus Estimate by 108.4%. Moreover, the bottom line rose 173% from the prior-year quarter.
The quarter’s adjustments eliminate the impacts of certain non-recurring items like amortization of purchased intangibles, legal charges, restructuring costs and acquisition-related one-time benefits.
GAAP EPS of the company was $32.38 per share in the quarter, up 42.5% from the year-ago quarter's EPS of $22.72.
Revenues in Detail
Revenues of $726.8 million in the quarter surpassed the Zacks Consensus Estimate by 9.9%. Moreover, revenues improved 27.1% from the year-ago quarter (up 23.4% at constant exchange rate or CER).
Per the company, first-quarter revenues were boosted by strong demand for products associated with COVID-19 testing and related research.
Segmental Analysis
Sales at the Life Science segment in the first quarter totaled $366.5 million, up 61.3% year over year and 56.9% at CER. The growth at CER was primarily driven by rise in demand for in qPCR, Western Blotting, Droplet Digital PCR, and Process Media products. A significant portion of the Life Science segment growth came from products used to support COVID-19 research and testing as well. Geographically, the company’s quarterly growth at CER was experienced by all regions.
BioRad Laboratories, Inc. Price, Consensus and EPS Surprise
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Bio-Rad Laboratories, Inc. (BIO - Free Report) posted first-quarter 2021 adjusted earnings per share (EPS) of $5.21, which surpassed the Zacks Consensus Estimate by 108.4%. Moreover, the bottom line rose 173% from the prior-year quarter.
The quarter’s adjustments eliminate the impacts of certain non-recurring items like amortization of purchased intangibles, legal charges, restructuring costs and acquisition-related one-time benefits.
GAAP EPS of the company was $32.38 per share in the quarter, up 42.5% from the year-ago quarter's EPS of $22.72.
Revenues in Detail
Revenues of $726.8 million in the quarter surpassed the Zacks Consensus Estimate by 9.9%. Moreover, revenues improved 27.1% from the year-ago quarter (up 23.4% at constant exchange rate or CER).
Per the company, first-quarter revenues were boosted by strong demand for products associated with COVID-19 testing and related research.
Segmental Analysis
Sales at the Life Science segment in the first quarter totaled $366.5 million, up 61.3% year over year and 56.9% at CER. The growth at CER was primarily driven by rise in demand for in qPCR, Western Blotting, Droplet Digital PCR, and Process Media products. A significant portion of the Life Science segment growth came from products used to support COVID-19 research and testing as well. Geographically, the company’s quarterly growth at CER was experienced by all regions.
BioRad Laboratories, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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