Bio-Rad Labs (BIO) Provides Outlook Through 2023

Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global leader of life science research and clinical diagnostic products, announced today its outlook through 2023, which shows the company’s commitment to continued organic growth, continued margin expansion, and its efforts on sustainability measures.

“Since our last Investor Day in 2017, Bio-Rad has executed on the key metrics that were laid out and this has translated into delivering significant shareholder value,” said Norman Schwartz, Bio-Rad President and Chief Executive Officer. “We continue our efforts to balance our investment in innovation with our continued operating discipline. We believe these efforts support our mission to advance the discovery process and improve healthcare.”

The company expects fiscal year 2023 sales to be between $2.75 billion and $2.85 billion, driven by our broad portfolio of products including Droplet Digital PCR, single-cell, clinical diagnostics, and a focus on the bioproduction and biopharma channels. For the fiscal year of 2023, the company expects to achieve a non-GAAP adjusted EBITDA margin of 23 to 24%, supported by footprint optimization, better capacity utilization, operating leverage, and productivity improvements.

“We look forward to sharing more details of our core growth and operating strategies in 2021,” said Mr. Schwartz.

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