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Mar 31, 2022
Bruker Q1 2022 Earnings Report
Bruker's Q1 2022 performance was marked by solid revenue growth and operating improvements amidst supply chain challenges.
Key Takeaways
Bruker Corporation reported a 7.3% increase in revenue for Q1 2022, reaching $595.0 million, with organic revenue growth of 10.5%. The company's GAAP EPS was $0.41, and non-GAAP EPS was $0.49, a rise of 11.4% year-over-year. Due to strong demand, Bruker is raising its fiscal year 2022 organic revenue outlook.
Q1 2022 revenue increased by 7.3% year-over-year, with organic revenue growth of 10.5%.
GAAP EPS for Q1 2022 was $0.41, while non-GAAP EPS reached $0.49, up 11.4% year-over-year.
The company is raising its fiscal year 2022 organic revenue outlook due to strong demand.
Several key acquisitions and equity investments were made in proteomics, spatial biology, biopharma, applied markets and cancer biomarker companies.
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CapyFin.com Forward Guidance
Bruker is increasing its FY 2022 organic revenue growth guidance to reflect strong demand for its high-performance life science tools, scientific instruments, and diagnostic solutions. For FY 2022, Bruker expects 5% to 7% year-over-year reported revenue growth, including organic growth of 7% to 9%. Bruker continues to expect FY 2022 non-GAAP EPS of $2.29 to $2.33, a 9% to 11% increase year-over-year.
Positive Outlook
- Organic growth of 7% to 9%, an increase of 1% compared to prior guidance
- M&A contributions of approximately 1.5%, an increase of 0.5% from prior guidance
- Non-GAAP operating margin expansion of 30 bps to 60 bps from 19.4% in FY 2021
- FY 2022 non-GAAP EPS of $2.29 to $2.33, a 9% to 11% increase year-over-year
- Strong demand for high-performance life science tools
Challenges Ahead
- Foreign currency translation headwinds of approximately -3.5%, vs. prior guidance of -2%
- Unable to predict with reasonable certainty certain items that may affect such measures calculated and presented in accordance with GAAP without unreasonable effort.
- Expected non-GAAP organic revenue, operating margin, tax rate and EPS ranges exclude primarily the future impact of restructuring actions, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments.
- Reconciling items are uncertain and depend on various factors outside of management's control.
- These items could significantly impact, either individually or in the aggregate, future period operating margins, EPS and tax rate calculated and presented in accordance with GAAP.