Bruker Q2 2023 Earnings Report
Key Takeaways
Bruker reported a strong second quarter with a 15.9% increase in revenues to $681.9 million and a GAAP EPS of $0.39. The company has increased its FY 2023 revenue guidance to $2.85-$2.90 billion.
Q2 2023 revenues reached $681.9 million, marking a 15.9% year-over-year increase, with organic revenue up by 13.5%.
GAAP EPS for Q2 2023 was reported at $0.39, while non-GAAP EPS stood at $0.50, reflecting an 11.1% year-over-year increase.
Bruker has raised its full-year 2023 revenue guidance to a range of $2.85 billion to $2.90 billion, suggesting revenue growth of 12.5% to 14.5%, and organic revenue growth of 9.5% to 11.5%.
BSI revenues increased 15.4% year-over-year, with organic revenue growth of 13.0%.
Bruker
Bruker
Forward Guidance
Bruker is increasing its revenue guidance for FY 2023 to a range of $2.85-$2.90 billion and continues to expect FY 2023 non-GAAP EPS of $2.55-$2.60.
Positive Outlook
- FY 2023 revenue guidance increased to $2.85-$2.90 billion.
- Implies revenue growth of 12.5%-14.5%.
- Organic revenue growth expected at 9.5%-11.5%.
- M&A revenue growth contributions of ~2%.
- Foreign currency translation revenue growth tailwind of ~1.0%.
Challenges Ahead
- No change from prior guidance on M&A revenue growth contributions.
- No change from prior guidance on foreign currency translation revenue growth.
- Bruker continues to expect FY 2023 non-GAAP EPS of $2.55-$2.60.
- Non-GAAP operating margin decreased by 130 basis points.
- Uncertainty in predicting GAAP financial measures.