Bio-Techne reported third-quarter fiscal 2026 revenue of $311.4 million, down 2% from a year earlier, with organic revenue also down 2%. Management said the decline reflected prior-year GMP fast-track orders and the timing of large commercial supply shipments. Foreign exchange added 2 points, while non-recurring revenue from a business held for sale cut 2 points from the comparison.
Earnings moved in opposite directions depending on the measure. GAAP diluted EPS rose to $0.32 from $0.14, while adjusted EPS slipped to $0.53 from $0.56. GAAP operating income jumped 95% to $75.5 million from $38.7 million, lifting GAAP operating margin to 24.2% from 12.2%. Adjusted operating income fell to $106.5 million from $110.3 million, and adjusted operating margin edged down to 34.2% from 34.9%.
By segment, protein sciences posted third-quarter sales of $226.2 million, down 1% from $227.7 million, with organic revenue down 4% and foreign exchange contributing 3 points. Its operating margin slipped to 44.2% from 45.6%.
Diagnostics and spatial biology reported sales of $85.6 million, down 4% from $89.2 million. Organic revenue grew 3%, foreign exchange added 1 point, and the held-for-sale business reduced reported revenue by 8 points. The segment’s operating margin improved to 12.1% from 9.4%.
Within the growth areas the company highlighted, proteomic analysis instruments posted mid-single-digit growth, spatial biology grew in the mid-teens, and GMP proteins excluding fast-track customers rose nearly 50%. Large pharma delivered its sixth straight quarter of double-digit growth, while U.S. academic markets showed low-single-digit growth. Today the company's shares have moved 3.48% to a price of $56.645. Check out the company's full 8-K submission here.
