BIO-TECHNE CORPORATION Reports Earnings Results for FY2023 Q4
August 16, 2023
🌥️Earnings Overview
On August 8 2023, BIO-TECHNE CORPORATION ($NASDAQ:TECH) reported their earnings results for FY2023 Q4, which ended on June 30 2023. Total revenue for the fourth quarter amounted to USD 301.3 million, signifying a 4.5% growth compared to the same period from the previous year. Net income was also up 22.7%, reaching USD 75.5 million.
Market Price
BIO-TECHNE CORPORATION reported its financial results for the fourth quarter of fiscal year 2023 on Tuesday. The company’s stock opened at $83.4 and closed at $84.3, representing a 3.7% increase from its prior closing price of 81.3. This indicates an overall positive performance for the company, which continues to see growth year-to-year. The company has been a leader in the biotechnology space for more than 30 years and continues to be a major innovator in the field. The company specializes in helping researchers, physicians, and other healthcare professionals to make advancements in research and patient care.
The results of this quarter show that BIO-TECHNE CORPORATION is on track to hit its financial goals for the fiscal year. This is due to the strong execution of its growth strategies, which have resulted in increased revenue and higher profits. The company is confident that its financial performance will remain strong throughout the remainder of the fiscal year and will continue to benefit shareholders and other stakeholders alike. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bio-techne Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.14k | 285.26 | 25.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bio-techne Corporation. More…
| Operations | Investing | Financing |
| 254.39 | -265.65 | 22.62 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bio-techne Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.64k | 672.18 | 12 |
Key Ratios Snapshot
Some of the financial key ratios for Bio-techne Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.5% | 26.2% | 26.3% |
| FCF Margin | ROE | ROA |
| 19.0% | 9.9% | 7.1% |
Analysis
GoodWhale has recently conducted an analysis of BIO-TECHNE CORPORATION‘s wellbeing. Our analysis has detected three risk warnings in their income statement, balance sheet, and non-financial aspects. If you would like to view the full extent of our findings, please become a registered user with GoodWhale. We are confident that the information we have gathered will help you make informed financial decisions regarding BIO-TECHNE CORPORATION. More…
Peers
In the realm of biotechnology, there is fierce competition between companies to provide the best products and services. Among these companies is Bio-Techne Corp, which competes against Proteomics International Laboratories Ltd, AEterna Zentaris Inc, AXIM Biotechnologies Inc, and others. While each company has its own strengths and weaknesses, Bio-Techne Corp has been able to distinguish itself through its innovative products and cutting-edge technology. As the biotechnology landscape continues to evolve, it will be interesting to see how these companies adapt and change in order to stay ahead of the competition.
– Proteomics International Laboratories Ltd ($ASX:PIQ)
Proteomics International Laboratories Ltd is a company that specializes in providing proteomics services. Its market cap as of 2022 was 110.87M, and its ROE was -75.41%. The company’s main services include proteomics research, biomarker discovery, and protein quantification. Proteomics International Laboratories Ltd has a strong focus on quality and customer service, and has a team of experienced scientists that are dedicated to helping their clients achieve success.
– AEterna Zentaris Inc ($TSX:AEZS)
Aeterna Zentaris is a Canadian biopharmaceutical company engaged in the discovery, development, and commercialization of therapeutic drugs for the treatment of cancer and endocrine disorders. As of 2022, the company had a market capitalization of $25.01 million and a return on equity of -14.54%. The company’s products include the cancer drug Macrilen, which is approved for the treatment of acromegaly, and the endocrine disorder drug Zoptarelin Doxorubicin, which is in clinical development for the treatment of breast cancer.
– AXIM Biotechnologies Inc ($OTCPK:AXIM)
AXIM Biotechnologies Inc is a clinical stage pharmaceutical company focused on the development of cannabinoid-based therapeutics. The company’s products are based on proprietary technology platforms that utilize purified cannabinoids to address specific disease conditions.
The company’s market cap is 10.55M as of 2022. The company’s ROE is 223.83%.
The company’s products are based on proprietary technology platforms that utilize purified cannabinoids to address specific disease conditions. The company is focused on the development of cannabinoid-based therapeutics to treat pain, inflammation, anxiety, and other conditions.
Summary
Investors in Bio-Techne Corporation stock can take a sigh of relief at the company’s recent financial performance. For the fourth quarter of fiscal year 2023, the company reported total revenue of $301.3 million, up 4.5% from the same period the year prior. Net income increased by 22.7%, amounting to $75.5 million. Consequently, stock prices rose on the same day of the news.
This is a positive sign for investors, as it indicates that the company’s financial performance is continuing to improve. With strong growth and solid profits, Bio-Techne Corporation looks like a great investment option.
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