Few Surprises in BioMerieux's Preannounced 2Q Results; Hot BioFire Offsets Standard Test Weakness

BioMerieux preannounced second-quarter business results and reported strong first-half performance, with organic sales up 15.7% over the first half of 2020. We will be maintaining our EUR 65 per share fair value estimate and narrow moat rating as these preliminary results track closely to our full-year forecasts. The firm’s financial guidance remains withdrawn, and we do not expect guidance to be reinstated until the fourth quarter, at the earliest. BioMerieux will report full second-half financial data on Sept. 2, and we intend to review our forecasts at that point once we have greater clarity on the firm’s results and management expectations for the year.