Harvard Bioscience Reports Q2 Earnings for Fiscal Year 2023
August 21, 2023
🌥️Earnings Overview
Harvard Bioscience ($NASDAQ:HBIO) announced their financial results for Q2 of 2023, which ended on June 30, on August 8. For the quarter, total revenue amounted to USD 28.8 million, a drop of 1.5% compared to the same period last year. The company reported a net income of -0.98 million, a significant decrease from the 2.44 million reported a year ago.
Share Price
On Tuesday, Harvard Bioscience reported its Q2 earnings for fiscal year 2023. The stock opened at $4.1 and closed at $4.4, down by 2.0% from its last closing price of $4.5. It was a difficult quarter for the company as it struggled to meet expectations set by the market.
The company also saw strong growth in its product and service offerings, with the launch of new products that will improve customer experience and drive more sales. All in all, Harvard Bioscience has had a mixed quarter, with a few bright spots that show the potential for continued success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Harvard Bioscience. More…
| Total Revenues | Net Income | Net Margin |
| 114.08 | -5.43 | -4.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Harvard Bioscience. More…
| Operations | Investing | Financing |
| 8.69 | -1.01 | -7.62 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Harvard Bioscience. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 142.9 | 67.51 | 1.79 |
Key Ratios Snapshot
Some of the financial key ratios for Harvard Bioscience are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.7% | 28.0% | -2.5% |
| FCF Margin | ROE | ROA |
| 6.3% | -2.4% | -1.3% |
Analysis
At GoodWhale, we have conducted an analysis of HARVARD BIOSCIENCE‘s financials. According to our Star Chart, HARVARD BIOSCIENCE is strong in asset, medium in profitability and weak in dividend and growth. We have classified them as an ‘elephant’ company, as they are rich in assets after deducting off liabilities. This indicates that HARVARD BIOSCIENCE may be of interest to investors who are looking for a company with a strong asset base but weaker dividend and growth opportunities. Additionally, their intermediate health score of 6/10 with regard to their cashflows and debt suggests that they are likely to safely ride out any crisis without the risk of bankruptcy. More…
Peers
Harvard Bioscience Inc. is a leading manufacturer and distributor of scientific instruments, systems, and supplies. Its competitors are Tecan Group AG, Stevanato Group SPA, and Bio-Techne Corp.
– Tecan Group AG ($OTCPK:TCHBF)
Tecan Group AG is a Switzerland-based company that develops, manufactures and markets laboratory instruments and solutions for the biopharmaceutical, forensics and clinical diagnostics markets. It offers products and services under three divisions: Lab Instrumentation, Lab Automation and Lab Services. The Lab Instrumentation division focuses on the development and manufacture of laboratory instruments, including microplate readers, washers and shakers, and liquid handling products. The Lab Automation division provides laboratory automation solutions, including robotics and software, for use in drug discovery and other life science research applications. The Lab Services division offers a range of services, including reagent and consumable rental, instruments maintenance and technical support.
– Stevanato Group SPA ($NYSE:STVN)
The Stevanato Group is a leading provider of integrated solutions for the pharmaceutical and biotech industries. The Group offers a complete range of products and services, from primary packaging to finished product delivery, to support the development and commercialization of new therapies. The Group has a strong track record of innovation and a commitment to customer service and quality. The Stevanato Group operates in more than 30 countries and employs over 5,000 people.
– Bio-Techne Corp ($NASDAQ:TECH)
Bio-Techne Corp is a global biotechnology company that develops, manufactures, and sells protein-based products, including antibodies, enzymes, and other proteins. The company has a market cap of 11.87B as of 2022 and a Return on Equity of 11.44%. Bio-Techne’s products are used in research and development by the life science industry, as well as in diagnostics and therapeutics by the healthcare industry. The company’s products are sold in over 90 countries worldwide.
Summary
HARVARD BIOSCIENCE has seen a decline in total revenue for Q2 of FY 2023, with a decrease of 1.5% compared to the same period the year prior. The company reported a net income of -0.98 million, compared to 2.44 million during the same period. Investors should view this data cautiously, as the slight decrease in revenue could be indicative of poor performance in future quarters. It is important to stay mindful of further quarterly earnings reports and keep track of the company’s growth trajectory.
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