Bio-Rad Laboratories, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Bio-Rad Laboratories, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024</b>.

AI Summary

BIO-RAD LABORATORIES, INC. (BIO-B) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Bio-Rad Laboratories, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at 1000 Alfred Nobel Drive, Hercules, CA 94547. The Standard Industrial Classification code for the company is 3826 (Laboratory Analytical Instruments). The filing was made on May 8, 2024.

Why It Matters

For investors and stakeholders tracking BIO-RAD LABORATORIES, INC., this filing contains several important signals. This 10-Q filing provides an update on Bio-Rad's financial performance and operational status for the first quarter of 2024. Investors and analysts can use this report to assess the company's current financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — BIO-RAD LABORATORIES, INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain immediate red flags.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Bio-Rad's Q1 2024 performance and outlook.

Key Players & Entities

• BIO-RAD LABORATORIES, INC. (company) — Filer name
• 0000012208 (company) — Central Index Key
• 3826 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• 1000 ALFRED NOBEL DRIVE (company) — Business Address Street 1
• HERCULES (company) — Business Address City
• CA (company) — Business Address State
• 94547 (company) — Business Address ZIP

FAQ

Industry Context

Bio-Rad Laboratories operates in the laboratory analytical instruments industry, providing products for research and clinical diagnostics.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the balance sheet and income statement for Q1 2024.
2. Review any disclosures regarding significant events or changes in business operations.
3. Compare Q1 2024 results to previous periods and industry benchmarks.

Key Dates

• 2024-03-31: End of Reporting Period — First quarter of fiscal year 2024
• 2024-05-08: Filing Date — Date the 10-Q was filed with the SEC

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, following previous filings such as the 2023 annual report (10-K).

Key Financial Figures

• $0.0001 — stered Class A Common Stock, Par Value $0.0001 per share BIO New York Stock Exchange

Filing Documents

• bio-20240331.htm (10-Q) — 1195KB
• ex31133124.htm (EX-31.1) — 12KB
• ex31233124.htm (EX-31.2) — 12KB
• ex32133124.htm (EX-32.1) — 6KB
• ex32233124.htm (EX-32.2) — 7KB
• 0000012208-24-000039.txt (&nbsp;) — 7983KB
• bio-20240331.xsd (EX-101.SCH) — 36KB
• bio-20240331_cal.xml (EX-101.CAL) — 68KB
• bio-20240331_def.xml (EX-101.DEF) — 301KB
• bio-20240331_lab.xml (EX-101.LAB) — 600KB
• bio-20240331_pre.xml (EX-101.PRE) — 450KB
• bio-20240331_htm.xml (XML) — 1482KB

– Financial Information

Part I – Financial Information 4

Financial Statements

Item 1. Financial Statements 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Income 6 Condensed Consolidated Statements of Comprehensive Income 7 Condensed Consolidated Statements of Cash Flows 8 Condensed Consolidated Statements of Changes in Stockholders' Equity 9 Notes to Condensed Consolidated Financial Statements 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 34

– Other Information

Part II – Other Information 35

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 48

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 48

Other Information

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 49

Signatures

Signatures 50 2 INFORMATION RELATING TO FORWARD-LOOKING STATEMENTS Other than statements of historical fact, statements made in this report include forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements we make regarding our future financial performance, operating results, plans and objectives. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "believe," "expect," "anticipate," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. However, actual results may differ materially from those currently anticipated depending on a variety of risk factors including, but not limited to, the risks relating to our international operations, supply chain issues, global economic and geopolitical conditions, our ability to develop and market new or improved products, our ability to compete effectively, foreign currency exchange fluctuations, reductions in government funding or capital spending of our customers, international legal and regulatory risks, product quality and liability issues, our ability to integrate acquired companies, products or technologies into our company successfully, changes in the healthcare industry, natural disasters and other catastrophic events beyond our control, and other risks and uncertainties identified under "Part II, Item 1A, Risk Factors" of this Quarterly Report on Form 10-Q. We caution you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. We un

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements BIO-RAD LABORATORIES, INC. Condensed Consolidated Balance Sheets (In thousands, except share data) March 31, 2024 December 31, 2023 ASSETS: (Unaudited) Cash and cash equivalents $ 433,280 $ 403,815 Short-term investments 1,212,394 1,203,327 Restricted investments 5,560 5,560 Accounts receivable, less allowance for credit losses of $ 15,305 as of March 31, 2024 and $ 14,926 as of December 31, 2023 444,809 489,017 Inventory 783,369 780,517 Prepaid expenses 142,742 140,040 Other current assets 38,782 26,054 Total current assets 3,060,936 3,048,330 Property, plant and equipment, net 522,364 529,007 Operating lease right-of-use assets 188,918 194,730 Goodwill, net 412,817 413,569 Purchased intangibles, net 313,602 320,514 Other investments 8,018,383 7,698,070 Other assets 92,873 94,850 Total assets $ 12,609,893 $ 12,299,070 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 BIO-RAD LABORATORIES, INC. Condensed Consolidated Balance Sheets (continued) (In thousands, except share data) March 31, 2024 December 31, 2023 LIABILITIES AND STOCKHOLDERS' EQUITY: (Unaudited) Accounts payable $ 102,750 $ 144,625 Accrued payroll and employee benefits 146,491 139,929 Current maturities of long-term debt and notes payable 487 486 Income and other taxes payable 33,961 35,759 Current operating lease liabilities 40,038 40,379 Other current liabilities 142,427 161,621 Total current liabilities 466,154 522,799 Long-term debt, net of current maturities 1,199,381 1,199,052 Deferred income taxes 1,540,992 1,475,495 Operating lease liabilities 159,814 165,478 Other long-term liabilities 192,418 195,113 Total liabilities 3,558,759 3,557,937 Stockholders' equity: Class A common stock, shares issued 25,186,769 and 25,169,944 as of March 31, 2024 and December 31, 2023, respectively; shares outstanding 23,444,836 and 23,422,506 as of March 31, 2024 and December 31, 2023, res

View Full Filing

View this 10-Q filing on SEC EDGAR