Bio-Rad Laboratories, Inc. (BIO) Presents at Wells Fargo 21st Annual Healthcare Conference Transcript

SA Transcripts 162.14K Followers Follow Bio-Rad Laboratories, Inc. ( BIO ) Wells Fargo 21st Annual Healthcare Conference September 9, 2026 3:45 PM EDT Company Participants Roop Lakkaraju - Executive VP & CFO Conference Call Participants Evan Stampler - Wells Fargo Securities, LLC, Research Division Presentation Evan Stampler Wells Fargo Securities, LLC, Research Division All right. It looks like we're ready to go. That's my cue. So this is the last meeting today for Life Science Tools and Diagnostics. Thanks, everyone, for being here. We have Bio-Rad, CFO, Roop Lakkaraju. Thank you for being here. Question-and-Answer Session Evan Stampler Wells Fargo Securities, LLC, Research Division Maybe the best place to start, 2Q organic growth, minus 2%, ahead of consensus. Ex-process chrome, I think you were flat. So can you kind of walk us through what got better in 2Q? What remains below plan? And then from an end market perspective, where have trends improved the most over the last 6, 12 months, like A&G, biotech, biopharma, et cetera? Roop Lakkaraju Executive VP & CFO Very good. First of all, Evan, thanks for having us, and I appreciate the opportunity to participate at the conference. It's been very good for us. In terms of the second quarter, second quarter was on a year-over-year basis, fairly similar to the second quarter of last year. On a sequential basis, as we expected, it improved from the Q1 results. And so that was good to see. In terms of the specific areas, as you've called out in your question, there's a few different things that we saw. One is Diagnostics generally was stable in the second quarter. That was helped by the Middle East specifically for us, which we anticipated happening on a sequential basis that came through. That helped us in the second quarter. And as we thought about the Middle East, that safety stock refresh that we expected after the Q1 conflict rising is