aibioBio-Rad starts restructuring plan with $80 to $90 million in pre-tax charges
Tickers BIO
Bio-Rad Laboratories said on August 4, 2026 that the plan includes position eliminations and facility closures worldwide and is expected to be substantially completed by the end of fiscal year 2027. Second-quarter net sales were $651.0 million.
Key facts
- Company
- Nha Trang Vaccines And Biological Products JointStock Co (UPCOM: BIO)
- News type
- Distress
- Primary source
- BIO-RAD LABORATORIES, INC. Form 8-K filed August 4, 2026 (SEC EDGAR)
Bio-Rad Laboratories, Inc. (NYSE: BIO) said it started a restructuring plan on July 31, 2026 and estimates total pre-tax charges of approximately $80 to $90 million. The company disclosed the plan on August 4, 2026 in a Form 8-K under Item 2.05, the item companies use to report costs tied to exit or disposal activities. The same filing carried its second-quarter results, and Roop K. Lakkaraju, Executive Vice President and Chief Financial Officer, signed it.
What the filing says about the restructuring
Bio-Rad calls the plan "strategy-driven" and part of its "ongoing program to improve operating performance and strengthen the Company's competitive position." It affects operations and functions around the world. It includes the elimination of certain positions, the consolidation of certain functions and the closure of various facilities.
The company expects the charges to consist mainly of one-time termination benefits, including cash severance, healthcare benefits and transition assistance. Headcount, timing and charges in parts of the international business depend on local employee consultation processes that are still under way. Bio-Rad expects the plan to be substantially completed by the end of fiscal year 2027.
The company calls the amounts preliminary and says additional charges and future cash payments could occur. The 8-K gives no split of the charges by year or by region, so the full cost of the cuts will not be known until those consultations finish.
Second-quarter results released the same day
In its earnings release, furnished as Exhibit 99.1, Bio-Rad reported net sales of $651.0 million for the quarter ended June 30, 2026, against $651.6 million a year earlier. Life Science segment sales fell 4.1 percent to $252.0 million, which the release ties mainly to ongoing challenges in the academic research market. Clinical Diagnostics segment sales rose 2.6 percent to $399.0 million.
Income from operations was $72.6 million, down from $77.1 million. GAAP net income was $371.4 million, or $13.85 per diluted share, against $317.8 million, or $11.67, a year earlier. The release says a change in the fair market value of its investment in Sartorius AG substantially contributed to that figure. On a non-GAAP basis, net income was $70.2 million, or $2.62 per diluted share, down from $71.0 million. Non-GAAP income from operations fell to $81.1 million from $88.6 million. Net cash from operations was $98.7 million, against $116.5 million a year earlier.
Cash, debt and outlook
Chairman and Chief Executive Officer Norman Schwartz said the company generated $99 million in operating cash flow during the quarter and repurchased approximately $32 million of shares. The balance sheet shows cash and cash equivalents of $517.0 million and short-term investments of $1,101.5 million at June 30, 2026, compared with $529.8 million and $1,010.9 million at December 31, 2025. Long-term debt, net of current maturities, was $803.0 million, down from $1,201.7 million at year end, while total current liabilities rose to $961.3 million from $517.0 million. Current maturities of long-term debt and notes payable were $400.7 million, against $1.3 million at year end. Interest expense for the quarter was $12.1 million.
Bio-Rad reaffirmed its full-year 2026 outlook. It continues to expect non-GAAP, currency-neutral revenue in a range from a decline of approximately 3.0 percent to growth of approximately 0.5 percent, and an estimated non-GAAP operating margin of approximately 10.0 to 12.0 percent. Schwartz said, "We are reaffirming our full-year outlook."
About the company
Bio-Rad is based in Hercules, California. Its annual report for 2025 describes a multinational developer, manufacturer and worldwide distributor of life science research and clinical diagnostics products. It has two reportable segments, Life Science and Clinical Diagnostics. The release says the company has about 7,400 employees and reported $2.6 billion in revenue in 2025.
The company's shares trade on the New York Stock Exchange as Class A common stock under BIO. The 8-K also furnishes a supplemental earnings presentation as Exhibit 99.2 under Item 7.01.