Bio-Rad Laboratories, Inc. (NYSE:BIO) Q2 2024 Earnings Conference Call August 1, 2024 5:00 PM ET

Company Participants

Edward Chung - Vice President of Investor Relations
Norman Schwartz - Chairman of the Board, President and CEO
Andy Last - Executive Vice President and Chief Operating Officer
Roop Lakkaraju - Executive Vice President and CFO

Conference Call Participants

Patrick Donnelly - Citi
Daniel Leonard - UBS
Tycho Peterson - Jefferies
Jack Meehan - Nephron Research

Operator

Good day, everyone, and welcome to today's Bio-Rad Second Quarter 2024 Earnings Results Conference Call and Webcast. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. [Operator Instructions]. Please note this call is being recorded. [Operator Instructions]. It is now my pleasure to turn the conference over to Head of Investor Relations, Edward Chung.

Edward Chung

Thanks, operator. Good afternoon, everyone, and thank you for joining us. Today, we will review the second quarter 2024 financial results and provide an update on key business trends for Bio-Rad. With me on the call today are Norman Schwartz, our Chief Executive Officer; Andy Last, Executive Vice President and Chief Operating Officer; and Roop Lakkaraju, Executive Vice President and Chief Financial Officer.

Before we begin our review, I'd like to remind everyone that we will be making forward-looking statements about management's goals, plans and expectations, our future financial performance and other matters. These statements are based on assumptions and expectations of future events that are subject to risks and uncertainties. Our actual results may differ materially from these plans, goals and expectations.

You should not place undue reliance on these forward-looking statements, and I encourage you to review our filings with the SEC where we discuss in detail the risk factors in our business. The company does not intend to update any forward-looking statements made during the call today. Finally, our remarks today will include references to non-GAAP financials, including net income and diluted earnings per share, which are financial measures that are not defined under generally accepted accounting principles. Investors should review the reconciliation of these non-GAAP measures to the comparable GAAP results contained in our earnings release.

With that, I'll now turn the call over to our CEO, Norman Schwartz.

Norman Schwartz

Thanks, Ed. Again, we appreciate your joining us on the call today. I guess I would say overall, despite a challenging market environment, we did have a solid quarter with revenue in line with expectations and margins actually ahead of expectations, driven by product mix, productivity gains and overall good cost management. I would say that while we have seen some positive signs with the improved biotech funding.