Overview
Life sciences firm's Q2 revenue was flat yr/yr but beat analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company noted strong growth in China/APAC region
Result Drivers
CHINA/APAC GROWTH - Strong commercial execution and improving end-markets drove growth in the China/APAC region for the third consecutive quarter
PRODUCTIVITY INITIATIVES - Ongoing productivity and cost containment initiatives led to a 31.1% adjusted operating margin, an increase of 100 basis points compared to the prior year period
LARGE PHARMA GROWTH - For the fourth consecutive quarter, the company delivered double-digit growth in its largest end market, large pharma
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $295.88 mln | $290.19 mln (13 Analysts) |
Q2 Adjusted EPS | Beat | $0.46 | $0.43 (13 Analysts) |
Q2 EPS | $0.24 | ||
Q2 Net Income | $38.009 mln | ||
Q2 Operating Expenses | $136.82 mln | ||
Q2 Operating income | $54.46 mln | ||
Q2 Pretax Profit | $50.78 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Bio-Techne Corp is $70.00, about 8.3% above its February 3 closing price of $64.63
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 30 three months ago
Press Release: ID:nPn4r2F7Pa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)