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Mar 31, 2024
Bruker Q1 2024 Earnings Report
Bruker's Q1 2024 financial results were announced, showcasing revenue growth and updated financial guidance.
Key Takeaways
Bruker reported a 5.3% year-over-year increase in revenue for Q1 2024, reaching $721.7 million. Organic revenue grew by 1.6%. The company updated its FY 2024 guidance, projecting revenue between $3.29 and $3.35 billion and non-GAAP EPS of $2.79 to $2.84.
Q1 2024 revenues reached $721.7 million, a 5.3% increase year-over-year.
GAAP EPS for Q1 2024 was $0.35, while non-GAAP EPS was $0.53.
FY 2024 revenue guidance was updated to $3.29 to $3.35 billion, reflecting 11% to 13% year-over-year growth.
Organic revenue growth for FY 2024 is maintained at 5% to 7%.
Bruker
Bruker
Bruker Revenue by Segment
Bruker Revenue by Geographic Location
Revenue by Segment
Bruker BioSpin Revenue
CapyFin.comBruker CALID Revenue
CapyFin.comBruker Nano Revenue
CapyFin.comBEST Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Bruker updated its FY 2024 guidance, now including the expected benefits of the Chemspeed and ELITech acquisitions. The updated FY 2024 guidance does not include the pending NanoString acquisition. Bruker now expects FY 2024 revenues of $3.29 to $3.35 billion and non-GAAP EPS of $2.79 to $2.84.
Positive Outlook
- Revenue is expected to be between $3.29 and $3.35 billion, up $60 million from prior guidance.
- Reported revenue growth is projected to be 11% to 13% year-over-year.
- Organic revenue growth is maintained at 5% to 7%.
- CER revenue growth is expected to be 12% to 14%, including contributions from Chemspeed and ELITech acquisitions.
- Non-GAAP EPS is projected to be $2.79 to $2.84, up $0.08 from prior guidance.
Challenges Ahead
- Foreign currency translation is expected to have a -1% headwind.
- The pending NanoString acquisition is not included in the updated FY 2024 guidance.
- Operating income decreased from $122.7 million in Q1 2023 to $64.8 million in Q1 2024.
- Net income attributable to Bruker Corporation decreased from $76.5 million in Q1 2023 to $50.9 million in Q1 2024.
- Non-GAAP operating income decreased from $139.4 million in Q1 2023 to $100.7 million in Q1 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income