Bio-Rad Laboratories Reports Q1 2026 Results, Cuts Outlook

Bio-Rad Laboratories ( (BIO) ) just unveiled an update.

Bio-Rad Laboratories reported first-quarter 2026 results on April 30, 2026, showing total net sales of $592.1 million, up 1.1% year-on-year, but a 4.2% decline on a currency-neutral basis, with softness across both Life Science and Clinical Diagnostics segments. The Life Science unit posted essentially flat reported sales at $228.5 million and a 4.3% currency-neutral decline, pressured by weak academic research demand, particularly in the Americas.

Clinical Diagnostics revenue rose 1.9% to $363.6 million but fell 4.1% on a currency-neutral basis, reflecting business disruption tied to escalating regional conflicts in the Middle East. Despite generating $108.1 million in operating cash flow and $78.1 million in free cash flow, Bio-Rad swung to a GAAP net loss of $527.1 million, or $19.55 per diluted share, primarily due to a negative change in the fair value of its investment in Sartorius AG.

Non-GAAP metrics painted a more resilient picture, with net income of $50.9 million and earnings of $1.89 per diluted share, although non-GAAP gross margin and operating income declined versus a year earlier. The effective tax rate rose slightly on both a GAAP and non-GAAP basis, driven mainly by shifts in the geographic mix of earnings and the impact of equity securities valuation.

Alongside the results, the company posted supplemental earnings materials for the March 31, 2026 quarter on its website and held a conference call with investors on April 30, 2026 to discuss performance and outlook. Bio-Rad also repurchased around 176,000 shares in the quarter, signaling confidence in the long-term durability of its business even as it navigates macroeconomic pressures and sector-specific headwinds.

However, management tempered expectations for 2026, cutting its non-GAAP currency-neutral revenue outlook from modest growth to a range spanning a roughly 3% decline to 0.5% growth. The company also lowered its projected non-GAAP operating margin to 10–12% from a prior 12–12.5%, reflecting ongoing challenges in academic end markets, geopolitical risk, and a more cautious operating environment for life science and diagnostics spending.

The most recent analyst rating on (BIO) stock is a Hold with a $300.00 price target. To see the full list of analyst forecasts on Bio-Rad Laboratories stock, see the BIO Stock Forecast page.

Spark’s Take on BIO Stock

According to Spark, TipRanks’ AI Analyst, BIO is a Neutral.

The score is driven primarily by solid fundamentals (strong balance sheet and consistently positive free cash flow) but tempered by significant earnings volatility and cautious 2026 growth/margin outlook. Valuation is supportive due to a very low P/E, while technical indicators are mixed and do not show strong momentum.

To see Spark’s full report on BIO stock, click here.

More about Bio-Rad Laboratories

Bio-Rad Laboratories, Inc., based in Hercules, Calif., develops, manufactures and markets a broad range of products for the life science research and clinical diagnostics markets. The company generated $2.6 billion in revenue in 2025, employs about 7,400 people worldwide, and serves universities, research institutions, hospitals, biopharma companies, and various testing laboratories.

Its portfolio supports applications from basic research to clinical testing, food safety, and environmental quality monitoring, positioning Bio-Rad as a key supplier to laboratories globally. The company operates a global network of research, development, manufacturing, and sales operations, and its BIO-RAD trademark is widely recognized in its niche scientific and diagnostic markets.

Average Trading Volume: 297,659

Technical Sentiment Signal: Sell

Current Market Cap: $7.43B

For an in-depth examination of BIO stock, go to TipRanks’ Overview page.