Bio-Rad Labs Files Q3 2024 10-Q

TL;DR

BIO-RAD's Q3 2024 10-Q is in - check financials for latest performance update.

AI Summary

Bio-Rad Laboratories, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial performance and position, including details on its common stock and treasury stock as of September 30, 2024, and December 31, 2023. The filing covers the third quarter and the year-to-date period for 2024 and compares it to the same periods in 2023.

Why It Matters

This filing provides investors with an update on Bio-Rad Laboratories' financial health and operational performance for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

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

Key Numbers

• 2024-09-30 — Period End Date (Latest financial reporting period)
• 2023-12-31 — Prior Year End Date (Comparison point for financial position)

Key Players & Entities

• BIO-RAD LABORATORIES, INC. (company) — Filer
• 0000012208 (company) — Central Index Key
• 2024-09-30 (date) — Period of Report
• 2024-10-31 (date) — Filing Date

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-20240930.htm (10-Q) — 1413KB
• exhibit101restrictedstocku.htm (EX-10.1) — 58KB
• ex31193024.htm (EX-31.1) — 12KB
• ex31293024.htm (EX-31.2) — 12KB
• ex32193024.htm (EX-32.1) — 6KB
• ex32293024.htm (EX-32.2) — 7KB
• 0000012208-24-000063.txt ( ) — 8649KB
• bio-20240930.xsd (EX-101.SCH) — 35KB
• bio-20240930_cal.xml (EX-101.CAL) — 70KB
• bio-20240930_def.xml (EX-101.DEF) — 289KB
• bio-20240930_lab.xml (EX-101.LAB) — 607KB
• bio-20240930_pre.xml (EX-101.PRE) — 444KB
• bio-20240930_htm.xml (XML) — 1640KB

– 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 11

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 50

Signatures

Signatures 51 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) September 30, 2024 December 31, 2023 ASSETS: (Unaudited) Cash and cash equivalents $ 410,377 $ 403,815 Short-term investments 1,212,081 1,203,327 Restricted investments 5,560 5,560 Accounts receivable, less allowance for credit losses of $ 12,139 as of September 30, 2024 and $ 14,926 as of December 31, 2023 461,940 489,017 Inventory 804,276 780,517 Prepaid expenses 133,228 140,040 Other current assets 28,158 26,054 Total current assets 3,055,620 3,048,330 Property, plant and equipment, net 545,304 529,007 Operating lease right-of-use assets 173,866 194,730 Goodwill, net 415,100 413,569 Purchased intangibles, net 307,325 320,514 Other investments 6,002,635 7,698,070 Other assets 103,622 94,850 Total assets $ 10,603,472 $ 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) September 30, 2024 December 31, 2023 LIABILITIES AND STOCKHOLDERS' EQUITY: (Unaudited) Accounts payable $ 122,185 $ 144,625 Accrued payroll and employee benefits 146,024 139,929 Current maturities of long-term debt and notes payable 1,262 486 Income and other taxes payable 43,625 35,759 Current operating lease liabilities 42,834 40,379 Other current liabilities 142,013 161,621 Total current liabilities 497,943 522,799 Long-term debt, net of current maturities 1,200,062 1,199,052 Deferred income taxes 1,076,058 1,475,495 Operating lease liabilities 143,919 165,478 Other long-term liabilities 197,631 195,113 Total liabilities 3,115,613 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 25,190,963 and 25,169,944 as of September 30, 2024 and Dece

View Full Filing

View this 10-Q filing on SEC EDGAR