Life sciences company Bio-Techne (NASDAQ: TECH) will be announcing earnings results this Wednesday before market hours. Here’s what investors should know.
Bio-Techne beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $317 million, up 3.5% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is Bio-Techne a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Bio-Techne’s revenue to be flat year on year at $291.6 million, slowing from the 4.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.42 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bio-Techne has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Bio-Techne’s peers in the research tools & consumables segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Thermo Fisher delivered year-on-year revenue growth of 4.9%, beating analysts’ expectations by 1.9%, and Revvity reported revenues up 2.2%, in line with consensus estimates. Thermo Fisher traded up 2.6% following the results while Revvity was down 2.4%.
Read our full analysis of Thermo Fisher’s results here and Revvity’s results here.
Investors in the research tools & consumables segment have had steady hands going into earnings, with share prices flat over the last month. Bio-Techne’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $67.83 (compared to the current share price of $61.61).
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