Skip to main content

Market Overview

Bruker Beats On Q1 Earnings, Raises FY21 Guidance

Share:
Bruker Beats On Q1 Earnings, Raises FY21 Guidance
  • Bruker Corp (NASDAQ: BRKRreported first-quarter FY21 revenue growth of 30.8% year-on-year to $554.7 million, beating the analyst consensus of $513.06 million.
  • Revenue increased by 23.8% on an organic basis. Foreign currency translation and acquisitions drove 6.2% and 0.8% growth.
  • Bruker BioSpin revenue rose 31.8% Y/Y to $159.4 million, Bruker CALID rose 36.9% Y/Y to $192.4 million, Bruker Nano rose 28.6% to $154.4 million, and BEST rose 13.4% to $52.4 million.
  • U.S. revenue rose 8.8% Y/Y to $119 million, Europe increased 51.8% Y/Y to $219.9 million, Asia Pacific rose 31.6% to $180.5 million, while Other regions rose 8.6% to $35.3 million.
  • Non-GAAP operating income rose 217.4% to $102.2 million, and the margin expanded 108 basis points to 18.4%.
  • Non-GAAP EPS of $0.44 beat the analyst consensus of $0.32.
  • The company generated $98 million in operating cash flow and held $696.8 million in cash and equivalents.
  • Guidance: Bruker’s FY21 organic growth guidance was raised from the previous 11% to 13%, to 14% to 16%. 
  • It sees Non-GAAP operating margin expansion of 210 bps to 250 bps, Non-GAAP EPS guidance raised to $1.82 to $1.87 versus the consensus of $1.82.
  • Bruker is well-positioned for a strong year, as it invested in Project Accelerate 2.0 opportunities in proteomics, spatial biology, and diagnostics, operational excellence, and productivity, CEO Frank Laukien said.
  • Price action: BRKR shares closed up by 0.76% at $69.01 on Wednesday.
 

Related Articles (BRKR)

View Comments and Join the Discussion!

Posted-In: BriefsEarnings News Guidance Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com