Bio-Techne reports Q1 adjusted EPS 42c, consensus 42c

Reports Q1 revenue $286.56M, consensus $291.34M. “The Bio-Techne (TECH) team once again executed with focus and agility in a dynamic operating environment,” said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. “During the quarter, we observed encouraging signs of stabilization in our US academic end market and continued strength from large pharmaceutical customers, while funding headwinds persisted for emerging biotech companies. Among our growth pillars, ProteinSimple’s analytical solutions extended its growth momentum and Spatial Biology stabilized while showing early signs of accelerating growth going forward. In Cell Therapy, we are very excited that a few of our largest customers received Fast Track Designation by the FDA, enabling shortened clinical development and approval timelines. However, these advancements have resulted in short- and intermediate-term order timing headwinds for our GMP proteins business.”