Bio-Rad Laboratories Files Q2 2024 10-Q

TL;DR

BIO Q2 10-Q filed. Financials updated.

AI Summary

Bio-Rad Laboratories, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results for the second quarter and the first half of the year. Key financial data and balance sheet information as of June 30, 2024, and December 31, 2023, were disclosed.

Why It Matters

This filing provides investors with the latest financial performance and position of Bio-Rad Laboratories, Inc., crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-06-30 — Period End Date (Balance Sheet Date)
• 2023-12-31 — Prior Period End Date (Balance Sheet Date)

Key Players & Entities

• BIO-RAD LABORATORIES, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240802 (date) — Filing Date
• 1000 ALFRED NOBEL DRIVE (address) — Business Address
• HERCULES (city) — Business Address City
• CA (state) — Business Address State
• 94547 (zip_code) — Business Address Zip

FAQ

Key Financial Figures

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

Filing Documents

• bio-20240630.htm (10-Q) — 1385KB
• ex31163024.htm (EX-31.1) — 12KB
• ex31263024.htm (EX-31.2) — 12KB
• ex32163024.htm (EX-32.1) — 6KB
• ex32263024.htm (EX-32.2) — 7KB
• 0000012208-24-000052.txt ( ) — 8636KB
• bio-20240630.xsd (EX-101.SCH) — 36KB
• bio-20240630_cal.xml (EX-101.CAL) — 69KB
• bio-20240630_def.xml (EX-101.DEF) — 305KB
• bio-20240630_lab.xml (EX-101.LAB) — 610KB
• bio-20240630_pre.xml (EX-101.PRE) — 455KB
• bio-20240630_htm.xml (XML) — 1685KB

– Financial Information

Part I – Financial Information 4

Financial Statements

Item 1. Financial Statements 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Income (Loss) 6 Condensed Consolidated Statements of Comprehensive Income (Loss) 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 31

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

– Other Information

Part II – Other Information 37

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49

Other Information

Item 5. Other Information 49

Exhibits

Item 6. Exhibits 51

Signatures

Signatures 52 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) June 30, 2024 December 31, 2023 ASSETS: (Unaudited) Cash and cash equivalents $ 406,913 $ 403,815 Short-term investments 1,209,193 1,203,327 Restricted investments 5,560 5,560 Accounts receivable, less allowance for credit losses of $ 14,043 as of June 30, 2024 and $ 14,926 as of December 31, 2023 445,506 489,017 Inventory 803,693 780,517 Prepaid expenses 153,013 140,040 Other current assets 32,376 26,054 Total current assets 3,056,254 3,048,330 Property, plant and equipment, net 533,767 529,007 Operating lease right-of-use assets 181,473 194,730 Goodwill, net 412,116 413,569 Purchased intangibles, net 307,093 320,514 Other investments 5,099,554 7,698,070 Other assets 98,189 94,850 Total assets $ 9,688,446 $ 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) June 30, 2024 December 31, 2023 LIABILITIES AND STOCKHOLDERS' EQUITY: (Unaudited) Accounts payable $ 126,693 $ 144,625 Accrued payroll and employee benefits 132,460 139,929 Current maturities of long-term debt and notes payable 483 486 Income and other taxes payable 35,896 35,759 Current operating lease liabilities 41,513 40,379 Other current liabilities 149,916 161,621 Total current liabilities 486,961 522,799 Long-term debt, net of current maturities 1,199,724 1,199,052 Deferred income taxes 878,462 1,475,495 Operating lease liabilities 150,975 165,478 Other long-term liabilities 193,537 195,113 Total liabilities 2,909,659 3,557,937 Stockholders' equity: Preferred stock, $ 0.0001 par value, 7,500,000 shares authorized; issued and outstanding - none — — Class A common stock, shares issued 25,189,806 and 25,169,944 as of June 30, 2024 and December 31, 2023, respectivel

View Full Filing

View this 10-Q filing on SEC EDGAR