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Bio-Rad (BIO) to Report Q2 Earnings: What's in the Offing?
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Bio-Rad Laboratories, Inc. (BIO - Free Report) is slated to report second-quarter 2020 results on Jul 30, after the closing bell.
In the last-reported quarter, the company’s earnings per share (EPS) of $1.91 surpassed the Zacks Consensus Estimate by 36.4%. Moreover, its earnings surpassed the consensus estimate in three of the last four quarters and lagged in one. The trailing four-quarter average surprise is 15.52%.
Let's see how things are shaping up prior to the announcement.
Factors at Play
Bio-Rad, during its first-quarter earnings call, had confirmed adverse impact on worldwide sales due to the pandemic. The demand slowdown in the United States and Europe, which was felt toward the end of the first quarter, is likely to have continued in the second quarter.
Further, as confirmed during the first-quarter earnings call, the pandemic has led to a pronounced change in product demand across the company’s portfolio. While the company recorded strong orders for Polymerase Chain Reaction (PCR)-based products related to COVID-19 testing and research, lower demand resulted mainly within the clinical diagnostics portfolio due to widespread lockdowns. This trend is likely to have continued in the second quarter.
Bio-Rad, in April, launched SARS-CoV-2 Total Ab test, which is a blood-based immunoassay kit to help determine if an individual has developed antibodies to SARS-CoV-2, the virus causing COVID-19. Notably, this test got both the FDA’s Emergency Use Authorization (EUA) and CE Mark approval. The company has been ramping up its production to meet the surging demand globally. This is likely to have significantly boosted the company’s second-quarter top line.
The company also received another EUA in May for its SARS-CoV-2 Droplet Digital PCR (ddPCR) test kit. Bio-Rad, which is already riding high on robust demand for its PCR and ddPCR products, is likely to have been benefitted by the launch of the test kit in the second quarter.
Q2 Estimates
The Zacks Consensus Estimate for second-quarter 2020 revenues is pegged at $487.1 million, suggesting a 14.9% fall from the year-ago figure.
The Zacks Consensus Estimate for the company’s EPS of 99 cents suggests a decline of 36.9% from the year-ago figure.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with an Earnings ESP has good chances of beating estimates. However, this is not the case here as you can see:
Zacks Rank: The company currently carries a Zacks Rank #3.
Earnings ESP: Bio-Rad has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks Worth a Look
Here are a few medical stocks worth considering as these have the right combination of elements to beat on earnings this reporting cycle. All the stocks currently carry a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Integra LifeSciences Holdings Corporation (IART - Free Report) has an Earnings ESP of +20.69%.
Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +6.69%.
Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp has an Earnings ESP of +134.19%.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Bio-Rad (BIO) to Report Q2 Earnings: What's in the Offing?
Bio-Rad Laboratories, Inc. (BIO - Free Report) is slated to report second-quarter 2020 results on Jul 30, after the closing bell.
In the last-reported quarter, the company’s earnings per share (EPS) of $1.91 surpassed the Zacks Consensus Estimate by 36.4%. Moreover, its earnings surpassed the consensus estimate in three of the last four quarters and lagged in one. The trailing four-quarter average surprise is 15.52%.
Let's see how things are shaping up prior to the announcement.
Factors at Play
Bio-Rad, during its first-quarter earnings call, had confirmed adverse impact on worldwide sales due to the pandemic. The demand slowdown in the United States and Europe, which was felt toward the end of the first quarter, is likely to have continued in the second quarter.
BioRad Laboratories, Inc. Price and EPS Surprise
BioRad Laboratories, Inc. price-eps-surprise | BioRad Laboratories, Inc. Quote
Further, as confirmed during the first-quarter earnings call, the pandemic has led to a pronounced change in product demand across the company’s portfolio. While the company recorded strong orders for Polymerase Chain Reaction (PCR)-based products related to COVID-19 testing and research, lower demand resulted mainly within the clinical diagnostics portfolio due to widespread lockdowns. This trend is likely to have continued in the second quarter.
Bio-Rad, in April, launched SARS-CoV-2 Total Ab test, which is a blood-based immunoassay kit to help determine if an individual has developed antibodies to SARS-CoV-2, the virus causing COVID-19. Notably, this test got both the FDA’s Emergency Use Authorization (EUA) and CE Mark approval. The company has been ramping up its production to meet the surging demand globally. This is likely to have significantly boosted the company’s second-quarter top line.
The company also received another EUA in May for its SARS-CoV-2 Droplet Digital PCR (ddPCR) test kit. Bio-Rad, which is already riding high on robust demand for its PCR and ddPCR products, is likely to have been benefitted by the launch of the test kit in the second quarter.
Q2 Estimates
The Zacks Consensus Estimate for second-quarter 2020 revenues is pegged at $487.1 million, suggesting a 14.9% fall from the year-ago figure.
The Zacks Consensus Estimate for the company’s EPS of 99 cents suggests a decline of 36.9% from the year-ago figure.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with an Earnings ESP has good chances of beating estimates. However, this is not the case here as you can see:
Zacks Rank: The company currently carries a Zacks Rank #3.
Earnings ESP: Bio-Rad has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks Worth a Look
Here are a few medical stocks worth considering as these have the right combination of elements to beat on earnings this reporting cycle. All the stocks currently carry a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Integra LifeSciences Holdings Corporation (IART - Free Report) has an Earnings ESP of +20.69%.
Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +6.69%.
Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp has an Earnings ESP of +134.19%.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>