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• Q4 2024 Net Sales: Approximately $668 million, a 2% decline from $681 million in Q4 2023.

• Life Science Segment Sales Q4 2024: $275 million, a 5.5% decline from $291 million in Q4 2023.

• Clinical Diagnostics Segment Sales Q4 2024: $393 million, a 0.9% increase from $389 million in Q4 2023.

• Q4 2024 GAAP Gross Margin: 51.2%, down from 53.8% in Q4 2023.

• Q4 2024 Non-GAAP Gross Margin: 53.9%, compared to 54.4% in Q4 2023.

• Q4 2024 Operating Income: $58 million, 8.7% of sales, compared to $95 million, 14% of sales in Q4 2023.

• Q4 2024 Non-GAAP Net Income: $81 million or $2.90 diluted earnings per share.

• Full Year 2024 Net Sales: $2.567 billion, a 3.9% decline from $2.67 billion in 2023.

• Full Year 2024 Non-GAAP Gross Margin: 55%, up from 54.2% in 2023.

• Full Year 2024 Free Cash Flow: Approximately $290 million, compared to $218 million in 2023.

• Full Year 2024 Share Buybacks: 691,000 shares for approximately $22 million.

• 2025 Revenue Growth Guidance: Currency-neutral growth between 1.5% and 3.5%.

• 2025 Non-GAAP Gross Margin Guidance: Projected between 55% and 55.5%.

• 2025 Non-GAAP Operating Margin Guidance: Projected between 13% and 13.5%.

• 2025 Free Cash Flow Guidance: Approximately $310 million to $330 million.

• Warning! GuruFocus has detected 4 Warning Sign with BIO.

Release Date: February 13, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Bio-Rad Laboratories Inc (NYSE:BIO) successfully met its revised 2024 guidance for both revenue and operating margin.

• The company achieved gross margin expansion in 2024 through productivity improvements and effective cost management.

• Bio-Rad Laboratories Inc (NYSE:BIO) entered into a binding offer to acquire Stilla Technologies, which is expected to enhance its digital PCR portfolio.

• The Clinical Diagnostics Group saw a 3.3% increase in sales for 2024, driven by demand for quality control and blood typing products.

• The company reported a significant improvement in free cash flow for 2024, reaching approximately $290 million compared to $218 million in 2023.

Negative Points

• Net sales for the fourth quarter of 2024 declined by 2% on a reported basis, primarily due to lower sales in the Life Science segment.

• The Life Science Group experienced a 12.8% decline in sales for 2024, with currency-neutral sales decreasing across all regions.

• The company faced a revenue decline in its diabetes portfolio due to a reimbursement change in China, impacting Q4 gross margin.

• Bio-Rad Laboratories Inc (NYSE:BIO) implemented a 5% workforce reduction to align headcount with its global organization.

• The company reported a net loss of $716 million for the fourth quarter of 2024, primarily due to a $977 million loss related to the fair market value of equity security holdings.