Bio-Techne (TECH) Tops Q3 EPS by 24c, Revenues Beat

Bio-Techne (NASDAQ: TECH) reported Q3 EPS of $1.79, $0.24 better than the analyst estimate of $1.55. Revenue for the quarter came in at $243.6 million versus the consensus estimate of $228.22 million.

"Congratulations to the entire global Bio-Techne team for delivering another consecutive record quarter," Said Chuck Kummeth, President and CEO of Bio-Techne. "Our 22% organic growth reflects strong execution across geographies and segments, while our financial discipline delivered an impressive adjusted operating margin of 40.1%. This strength speaks to increasing demand for our portfolio of life science tools and diagnostic solutions, delivering productivity enhancing solutions that are ideal for the current environment and positioning the Company for continued leadership in our platforms as we exit the pandemic."

Kummeth added, "Our end-markets continued to improve during Q3, with biopharma remaining strong and academic labs continuing the reopening process. Our ProteinSimple brand of proteomic analytical tools and ACD brand of tissue biopsy products were standouts in the quarter, with these platforms growing approximately +50% and +40% year-over-year, respectively. The continued rapid adoption of these solutions, combined with our quality reagents and emerging Exosome Dx and Cell and Gene Therapy opportunities, gives us much excitement about what the future still brings for Bio-Techne and all of its stakeholders."

For earnings history and earnings-related data on Bio-Techne (TECH) click here.

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