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Sep 30, 2023
Bruker Q3 2023 Earnings Report
Bruker's Q3 2023 financial results were announced, demonstrating strong revenue growth and increased EPS.
Key Takeaways
Bruker reported Q3 2023 revenues of $742.8 million, a 16.3% increase year-over-year, with organic revenue up 10.9%. GAAP EPS was $0.60, and non-GAAP EPS was $0.74, up 12.1% year-over-year. The company increased its FY 2023 revenue guidance to $2.88-$2.91 billion, implying a reported revenue growth of 14%-15% year-over-year.
Q3 2023 revenues reached $742.8 million, reflecting a 16.3% year-over-year increase and 10.9% organic growth.
GAAP EPS for Q3 2023 was reported at $0.60, while non-GAAP EPS rose to $0.74, marking a 12.1% year-over-year increase.
The company has raised its full-year 2023 revenue guidance to between $2.88 billion and $2.91 billion.
Bruker's acquisition of the Cellular Analysis business (formerly PhenomeX) was completed in early October.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Bruker is increasing its revenue guidance for FY 2023 to a range of $2.88-$2.91 billion. Non-GAAP EPS is expected to be $2.48-$2.53, with organic revenue growth of 11.5%-12.5%.
Positive Outlook
- Revenue guidance increased to $2.88-$2.91 billion.
- Organic revenue growth expected to be 11.5%-12.5%.
- M&A revenue growth contribution of approximately 2.5%.
- Constant currency revenue growth of 14%-15%.
- Non-GAAP EPS expected to be $2.48-$2.53.
Challenges Ahead
- Cellular Analysis business expected to have a negative impact of ~$0.12 on non-GAAP EPS in Q4 2023.
- Overall, a $0.07 decrease from prior FY 2023 guidance due to Cellular Analysis business.
- Cellular Analysis is expected to be slightly dilutive in FY 2024.
- Updated non-GAAP EPS guidance reflects a $0.05 expected increase from the core business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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