Bruker Q3 2020 Earnings Report
Key Takeaways
Bruker's Q3 2020 revenues were $511.4 million, a 1.9% decrease compared to Q3 2019. GAAP operating income was $81.2 million, with a margin of 15.9%. Non-GAAP operating income was $94.9 million, with a margin of 18.6%. GAAP EPS was $0.35, and non-GAAP EPS was $0.42. The declines were primarily due to softer instrument and superconductor demand amid the pandemic, partially offset by cost control measures.
Q3 2020 revenues decreased by 1.9% year-over-year to $511.4 million.
Organic revenue declined by 4.6% year-over-year.
GAAP operating income was $81.2 million, with a 15.9% margin.
Non-GAAP operating income was $94.9 million, with an 18.6% margin.
Bruker
Bruker
Forward Guidance
Bruker expects that the pandemic and related economic slowdown will continue to have a negative year-over-year impact on the Company’s fourth quarter 2020 financial results. Fiscal Year 2020 (FY 2020) Guidance Remains Suspended.
Challenges Ahead
- Pandemic and related economic slowdown will continue to have a negative year-over-year impact on the Company’s fourth quarter 2020 financial results.
- Softer instruments demand by academic and industrial customers
- Reduced demand for BEST superconductors
- Challenging environment, with some academic and industrial customers still negatively impacted by the pandemic.
- Fiscal Year 2020 (FY 2020) Guidance Remains Suspended.