Stock Track | Bio-Techne Soars in Pre-Market as Q1 Earnings Top Estimates

Stock Track

2024-10-30

Shares of Bio-Techne Corporation (NASDAQ: TECH) surged over 5% in pre-market trading on Tuesday, after the life sciences company reported better-than-expected financial results for the first quarter of fiscal 2025.

For the three months ended September 30, 2024, Bio-Techne posted adjusted earnings per share of $0.42, surpassing analysts' consensus estimate of $0.38. Total revenue rose to $289.5 million, exceeding the forecasted $280.3 million.

The strong performance was driven by robust demand across Bio-Techne's product portfolio, particularly in its core Protein Sciences segment. The company also cited favorable foreign exchange rates as a tailwind.

"Bio-Techne's first quarter results reflect the continued execution of our core strategic priorities," said CEO Chuck Kummeth. "We are well-positioned to capitalize on growing end-market opportunities and remain committed to delivering long-term sustainable growth."

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