Bio-Techne Q4 revenue beats forecasts, earnings in line
Life sciences firm Bio-Techne posted fourth-quarter revenue above analyst estimates while earnings matched expectations. Shares were indicated higher in extended trading.
Bio-Techne reported fourth-quarter results that met earnings expectations but exceeded revenue forecasts, sending shares higher in after-hours trading.
The life sciences company posted earnings per share of $1.78, in line with the $1.78 average estimate among analysts surveyed by Refinitiv. Revenue for the quarter totaled $332.1 million, surpassing the $328.5 million consensus forecast.
Bio-Techne attributed the revenue beat to strong demand across its bioprocess and protein platform segments, which offset softer performance in its diagnostics division. The company did not provide forward guidance in its earnings release.
Shares of Bio-Techne were up 2.3% in extended trading following the results, having closed the regular session at $438.10. The stock has gained roughly 15% over the past year, outperforming the broader biotechnology sector.
Bio-Techne, a Minneapolis-based firm, develops and manufactures biotechnology products and diagnostic assays used in research and clinical applications. Its customer base includes academic institutions, biopharmaceutical companies, and healthcare providers globally.
The company’s next earnings report is scheduled for October 2024, pending board approval.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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