Bio-Techne reports Q3 adjusted EPS 48c, consensus 45c

Reports Q3 revenue $303.43M, consensus $292.19M. “I am proud of the remarkable execution of our Bio-Techne team under challenging end market conditions, which drove solid top-line performance,” said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. “As expected, we experienced subsiding headwinds from de-stocking but also delivered year-over-year growth in a depressed biopharma end market. This top-line performance, combined with the benefits of cost and efficiency initiatives, resulted in a 33.0% adjusted operating margin, representing a 290 basis-point sequential improvement.”