05:35 PM EDT, 08/01/2024 (MT Newswires) -- Bio-Rad Laboratories ( BIO/B ) reported Q2 non-GAAP diluted earnings Thursday of $3.11 per share, up from $3.00 a year earlier.

Analysts polled by Capital IQ expected $2.02.

Revenue for the quarter ended June 30 was $638.5 million, down from $681.1 million a year ago.

Analysts surveyed by Capital IQ expected $646.4 million.

For full-Year 2024, the company said it currently expects non-GAAP revenue to decline 2.5% to 4.0% on a currency-neutral basis, compared with its previous estimate of 1.0% to 2.5% revenue growth.

Bio-Rad ( BIO/B ) also estimates a non-GAAP operating margin of about 12.0% to 13.0% versus its prior estimate of 13.5% to 14.0%.

Meanwhile, the company said its board authorized a $500 million increase to its share repurchase program.

The stock was down about 20% in extended trading.

Price: 272.70, Change: -68.55, Percent Change: -20.09