Life sciences company Bio-Techne (NASDAQ: TECH) will be announcing earnings results tomorrow before market hours. Here’s what you need to know.
Bio-Techne beat analysts’ revenue expectations by 4.2% last quarter, reporting revenues of $297 million, up 9% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a decent beat of analysts’ EPS estimates.
Is Bio-Techne a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Bio-Techne’s revenue to grow 4.6% year on year to $317.4 million, improving from the 3.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.51 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 five times over the last two years.
Looking at Bio-Techne’s peers in the research tools & consumables segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Mettler-Toledo’s revenues decreased 4.6% year on year, beating analysts’ expectations by 1%, and Danaher reported flat revenue, topping estimates by 2.7%. Mettler-Toledo traded up 4.3% following the results while Danaher was also up 6.2%.
Read our full analysis of Mettler-Toledo’s results here and Danaher’s results here.
There has been positive sentiment among investors in the research tools & consumables segment, with share prices up 4.4% on average over the last month. Bio-Techne is down 4.8% during the same time and is heading into earnings with an average analyst price target of $79.70 (compared to the current share price of $49.80).
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