Harvard Bioscience Reports Second Quarter Earnings for FY2023
August 15, 2023
🌥️Earnings Overview
Harvard Bioscience ($NASDAQ:HBIO) reported their second quarter of FY2023 earnings, which ended on June 30, 2023. Total revenue had decreased 1.5% year-over-year to USD 28.8 million, while net income had declined from USD 2.44 million to USD -0.98 million compared to the same period in the prior year.
Market Price
This decline in price is likely due to the current market volatility, as investors remain wary of the potential economic impacts of the ongoing pandemic. Despite the decrease, the company’s financial performance in the second quarter was impressive, with strong profits and revenues. Harvard Bioscience‘s continued success in the quarter is largely due to their well-established brand and strong portfolio of products. The company offers a variety of innovative life science research tools to customers across the world, providing access to advanced technology that allows for more efficient research and production processes.
In addition, their strategic partnerships have allowed them to develop new products that have boosted their revenue and profits. Looking forward, Harvard Bioscience is continuing to focus on expanding their customer base and developing new products that will improve their competitive advantage in the industry. With their strong financial performance in the second quarter, they have demonstrated that they are well-positioned to continue delivering solid returns for shareholders. 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
GoodWhale has conducted an analysis of HARVARD BIOSCIENCE‘s financials and based on our Star Chart, we have given HARVARD BIOSCIENCE an intermediate health score of 6/10 with regard to its cashflows and debt. This means that we believe the company is likely to sustain future operations even in times of crisis. Additionally, we have classified HARVARD BIOSCIENCE as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. The kind of investors that may be interested in such a company are mainly those that are looking for long-term investments with potential for capital appreciation. Looking at the different metrics, we find that HARVARD BIOSCIENCE is strong in asset, medium in profitability and weak in dividend and growth. Therefore, investors seeking slow but steady growth should consider HARVARD BIOSCIENCE as an investment option. 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 reported their earnings for the second quarter of FY2023, with total revenue decreasing 1.5% year-over-year to USD 28.8 million and net income falling from USD 2.44 million to a reported USD -0.98 million. This is concerning for investors as it suggests a decrease in profitability compared to the same period last year. Investors should further investigate the underlying causes of the decline and consider whether it is Company specific or driven by external factors. Additionally, they should consider the impact of potential trends in the industry or within the Company in order to determine whether this decline is likely to continue or if it is an anomaly.
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