Bio-Techne Corp. reported second-quarter earnings that surpassed analyst expectations, driving a positive market response. The company posted a net income of $34.89 million, or $0.22 per share, up from $27.47 million, or $0.17 per share, in the same period last year. On an adjusted basis, earnings reached $68.13 million, or $0.42 per share, exceeding the average analyst estimate of $0.38 per share. Revenue also saw a notable increase, rising 9% year-over-year to $297.03 million, compared to $272.60 million in the previous year.
The strong financial performance was attributed to robust sales growth across Bio-Techne's product lines, which helped the company outpace market expectations. The earnings beat and revenue growth signal the company's effective execution of its business strategy and its ability to capitalize on market opportunities.
Bio-Techne (TECH) shares are trading at $77.26, reflecting a 6.49% increase from the previous close of $72.55 on February 4th.