Bruker Q1 2023 Earnings Report
Key Takeaways
Bruker Corporation reported a strong start to 2023, with Q1 revenues reaching $685.3 million, a 15.2% increase year-over-year. Organic revenue grew by 17.6%. The company raised its full-year guidance for revenue to $2.83-$2.88 billion and non-GAAP EPS to $2.55-$2.60.
Q1 2023 revenues reached $685.3 million, up 15.2% year-over-year, with organic revenue up 17.6%.
GAAP EPS was $0.52, while non-GAAP EPS was $0.64, a 30.6% increase year-over-year.
Bruker increased its full-year 2023 revenue guidance to $2.83-$2.88 billion and non-GAAP EPS guidance to $2.55-$2.60.
The company experienced robust demand for its scientific instruments and life-science solutions.
Bruker
Bruker
Forward Guidance
Bruker increased its revenue guidance to a range of $2.83-$2.88 billion, up from prior outlook of $2.81-$2.86 billion. Bruker now expects FY 2023 non-GAAP EPS of $2.55-$2.60.
Positive Outlook
- Organic revenue growth of 9%-11%, up from prior outlook of 8%-10%.
- M&A revenue growth contributions of ~2%, up from prior outlook of 1.5%.
- Constant currency (CC) revenue growth of 11%-13%, up from prior outlook of 9.5%-11.5%.
- Foreign currency translation revenue growth tailwind of approximately 1.0%.
- FY 2023 non-GAAP EPS of $2.55-$2.60, or 9%-11% year-over-year non-GAAP EPS growth.