Life sciences company Bio-Techne (NASDAQ: TECH) will be announcing earnings results this Wednesday before market open. Here’s what to look for.
Bio-Techne missed analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $286.6 million, down 1% year on year. It was a softer quarter for the company, with a miss of analysts’ revenue estimates and a miss of analysts’ organic revenue 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 decline 2.3% year on year to $290.2 million, a reversal from the 9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 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 Q4 results, giving us a hint as to what we can expect. Thermo Fisher delivered year-on-year revenue growth of 7.2%, beating analysts’ expectations by 2.1%, and Revvity reported revenues up 5.8%, topping estimates by 1.1%. Thermo Fisher traded down 4.8% following the results.
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 is up 5.6% during the same time and is heading into earnings with an average analyst price target of $70 (compared to the current share price of $65.57).
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