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Dec 31, 2023
Bruker Q4 2023 Earnings Report
Bruker's Q4 2023 performance showcased strong revenue growth, driven by organic expansion and strategic acquisitions, though non-GAAP EPS experienced a slight decline.
Key Takeaways
Bruker reported Q4 2023 revenues of $854.5 million, a 20.6% increase year-over-year, with organic revenue up by 15.9%. GAAP EPS was $1.41, including a gain from the PhenomeX acquisition, while non-GAAP EPS was $0.70, a 5.4% decrease year-over-year. The company's full-year revenue reached $2.96 billion, with a 17.1% increase year-over-year and organic revenue growth of 14.5%.
Q4 2023 revenues increased by 20.6% year-over-year, reaching $854.5 million, with organic revenue growth of 15.9%.
GAAP EPS for Q4 2023 was $1.41, which included a $0.99 gain per share from the PhenomeX acquisition.
Non-GAAP EPS for Q4 2023 decreased by 5.4% year-over-year to $0.70, but pro forma non-GAAP EPS, excluding the PhenomeX acquisition, increased by 8.1%.
Full-year 2023 revenues grew by 17.1% to $2.96 billion, with organic revenue growth of 14.5%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Bruker expects FY 2024 revenues of $3.23 to $3.29 billion, or 9% to 11% yoy reported revenue growth, including yoy contributions from organic revenue growth of 5% to 7%. Bruker expects FY 2024 non-GAAP EPS of $2.71 to $2.76, or 5% to 7% growth yoy.
Positive Outlook
- Organic revenue growth of 5% to 7%
- Constant exchange rate (CER) revenue growth of 8% to 10%, with M&A contributions of ~3%
- Foreign currency translation tailwind of ~1%
- Revenue between $3.23B and $3.29B
- Non-GAAP EPS growth of 5% to 7%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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