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BioRad (BIO) to Report Q1 Earnings: What's in the Cards?

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BioRad Laboratories, Inc. BIO is slated to report first-quarter fiscal 2021 results on Apr 29, after the closing bell.

In the last-reported quarter, the company’s earnings per share (EPS) of $4.01 surpassed the Zacks Consensus Estimate by 29.4%. Moreover, earnings surpassed the consensus estimate in the last four quarters. The trailing four-quarter average surprise is 37.95%.

Let's see how things are shaping up prior to the announcement.

Factors at Play

Life Science

Through the pandemic, Bio-Rad has witnessed a pronounced change in product demand across the company’s portfolio, including major shift toward COVID-19 testing and research-related products.

With the pandemic situation more or less remaining unchanged through the months of the first quarter, BioRad is again expected to have maintained strength in its Life Science segment in the first quarter. Robust sales of Bio-Rad’s core Polymerase Chain Reaction (PCR) and Droplet Digital PCR products (dPCR), and Process Media are likely to have maintained momentum in the first quarter as well, similar to the past few months. These factors are expected to have made significant contributions to the top line.

During the fourth-quarter earnings call, BioRad confirmed the receipt of FDA Emergency Use Authorization (EUA) for COVID qPCR assay kit. We expect this multiplex test to have witnessed full-quarter effect of solid customer adoption amid the pandemic. In addition, BioRad confirmed the receipt of EUA approval from the FDA for COVID FluA and FluB qPCR syndromic multiplex test. Considering the current scenario, we believe these products are likely to have registered strong customer adoptions in the to-be-reported quarter, thus adding to the top line.

BioRad Laboratories, Inc. Price and EPS Surprise

BioRad Laboratories, Inc. Price and EPS Surprise
BioRad Laboratories, Inc. Price and EPS Surprise

BioRad Laboratories, Inc. price-eps-surprise | BioRad Laboratories, Inc. Quote

Clinical Diagnostics

In the last-reported quarter, BioRad’s Clinical Diagnostics arm put up a dismal performance impacted by lower demand for routine testing and elective surgeries resulting from the pandemic. With the health situation remaining more or less unchanged, we expect the Clinical Diagnostics segment to have experienced weakness across all product lines due to reduced demand from lower non-critical hospital and clinic visits.

Estimate Picture

For first-quarter fiscal 2021, the Zacks Consensus Estimate for totalrevenues of $661 million implies growth of 15.6% from the prior-year reported figure.

The consensus estimate for earnings per share is pegged at $2.50, indicating an improvement of 30.9% from the prior-year reported figure.

What Our Model Suggests

Our proven model does not conclusively predict earnings beat for BioRad this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.

Earnings ESP: BioRad has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #3.

Stocks Worth a Look

Here are a few medical stocks worth considering as these have the right combination of elements to beat on earnings this reporting cycle.

Elanco Animal Health Incorporated ELAN currently has a Zacks Rank #1 and an Earnings ESP of +1.90%. You can see the complete list of today’s Zacks #1 Rank stocks here.

HCA Healthcare, Inc. HCA has an Earnings ESP of +8.91% and a Zacks Rank of 2, at present.

Avenue Therapeutics, Inc. ATXI has an Earnings ESP of +16.67% and a Zacks Rank of 2, at present.

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