Bio-Rad Laboratories Q2 Earnings Call Highlights

Second-quarter revenue was essentially flat at approximately $651 million , while currency-neutral sales declined 1.9% as academic research weakness pressured the Life Science segment.

Clinical Diagnostics returned to modest currency-neutral growth, and revenue improved 10% sequentially.

Digital PCR was a bright spot , with currency-neutral revenue up 6% and instrument sales rising more than 20%; however, consumables growth has not yet fully followed instrument placements.

China sales fell in the high teens, creating an expected $4 million second-half headwind.

Bio-Rad reaffirmed its 2026 guidance for currency-neutral revenue growth ranging from negative 3% to positive 0.5%.

A restructuring program expected to be substantially completed by 2027 should generate $30 million to $35 million in annualized net savings, though it will involve roughly $90 million in one-time costs.

Bio-Rad Laboratories NYSE: BIO reported second-quarter revenue of approximately $651 million, essentially flat from $652 million a year earlier on a reported basis and down 1.9% on a currency-neutral basis, as continued softness in academic research markets weighed on its Life Science segment.

President and Chief Operating Officer Jon DiVincenzo said revenue increased 10% sequentially as the company improved from a challenging first quarter.

Clinical Diagnostics returned to modest currency-neutral growth, led by quality controls and blood-typing products, while Life Science trends improved excluding process chromatography.

“The second quarter demonstrated meaningful sequential progress,” DiVincenzo said, citing clinical diagnostics growth, improving underlying Life Science trends and strong digital PCR instrument performance.

He added that several end markets remain in transition and that the company continues to adjust its operations to improve agility and competitiveness.

Life Science sales were $252 million, declining 4.1% year over year on a reported basis and 5.1% on a currency-neutral basis.

The decline reflected ongoing weakness in academic research and a difficult comparison in process chromatography, according to Chief Financial Officer Roop K. Lakkaraju.

Clinical Diagnostics sales rose to approximately $399 million from $389 million a year earlier, an increase of 2.6% reported and 0.3% currency-neutral.

Growth in the Americas was offset by lower sales in the broader Asia-Pacific region.

Demand from academic and government customers remained below historical levels, particularly in the Americas.

DiVincenzo said National Institutes of Health funding outlays have begun rising year over year, though purchasing activity generally trails funding.

The company said it needs to see a more sustained pattern before characterizing the environment as a durable recovery.

Bio-Rad also reported early signs of stabilization among biopharma customers, particularly later-stage and commercial-scale biotechnology companies.

Early-stage biotech customers remain more cautious because funding conditions have not fully normalized, management said.

Process chromatography, which represents less than 5% of annual company revenue, increased sequentially but declined from the prior year as expected.

Management said the business has customer concentration because of its niche role in the polishing phase of bioprocessing, which can create quarterly variability.

Americas results remained soft because of academic-market pressure, although Bio-Rad said conditions improved toward the end of the quarter.

Asia-Pacific sales excluding China rose 6% currency-neut...