$BIO · BIO-RAD LABORATORIES, INC.
Bio-Rad's 10-Q for Q3 2026 shows net sales of $656.4M (up 0.5% YoY) and net income of $458.6M versus a $341.9M loss a year ago. The swing was driven by a $588.2M gain from the change in fair value of equity securities and loan receivable, versus a $495.3M loss last year. Operations weakened: income from operations fell to a $49.7M loss from $65.3M profit, including a $49.8M impairment of purchased intangibles and a 24% rise in SG&A to $257.1M.
- Net sales rose 0.5% YoY to $656.4M in Q3 2026.
- Net income was $458.6M vs a $341.9M loss a year earlier.
- A $588.2M equity-securities fair-value gain drove the swing.
- Income from operations fell to a $49.7M loss from a $65.3M profit.
- A $49.8M purchased-intangibles impairment and 24% SG&A increase pressured operating results.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
The headline profit is almost entirely a mark-to-market gain on Bio-Rad's Sartorius stake, masking an operating loss and impairment.
Life Science segment sales fell to $254.6M from $261.8M, while Clinical Diagnostics grew to $401.8M from $391.2M, reflecting mixed demand across Bio-Rad's two segments.
The $588.2M fair-value gain on equity securities (largely the Sartorius stake) is volatile and non-operational, and the $49.8M intangibles impairment signals potential further write-downs.