Bruker Reports Third Quarter 2024 Financial Results
Bruker (BRKR) reported Q3 2024 revenues of $864.4 million, up 16.4% year-over-year, with organic revenue growth of 3.1%. The company's GAAP diluted EPS was $0.27, while non-GAAP diluted EPS reached $0.60. Despite posting double-digit CER revenue growth, Bruker lowered its FY2024 guidance due to biopharma and China recovery delays. The updated guidance projects revenue between $3.34 to $3.37 billion, implying organic revenue growth of 3-4%, and non-GAAP EPS of $2.36-$2.41.
Bruker (BRKR) ha riportato ricavi per il terzo trimestre del 2024 pari a 864,4 milioni di dollari, in aumento del 16,4% rispetto allo stesso trimestre dell'anno precedente, con una crescita organica dei ricavi del 3,1%. L'EPS diluito GAAP dell'azienda è stato di $0,27, mentre l'EPS diluito non GAAP ha raggiunto $0,60. Nonostante abbia segnalato una crescita dei ricavi a due cifre in termini di CER, Bruker ha abbassato le previsioni per l'intero anno 2024 a causa dei ritardi nella ripresa del settore biopharma e in Cina. Le previsioni aggiornate stimano ricavi compresi tra 3,34 e 3,37 miliardi di dollari, implicando una crescita organica dei ricavi del 3-4% e un EPS non GAAP di $2,36-$2,41.
Bruker (BRKR) reportó ingresos del tercer trimestre de 2024 por 864,4 millones de dólares, un aumento del 16,4% interanual, con un crecimiento orgánico de ingresos del 3,1%. La EPS diluida según GAAP de la compañía fue de $0,27, mientras que la EPS diluida no GAAP alcanzó los $0,60. A pesar de reportar un crecimiento de ingresos de dos dígitos en CER, Bruker redujo su guía para el FY2024 debido a retrasos en la recuperación biopharma y en China. La guía actualizada proyecta ingresos entre 3,34 y 3,37 mil millones de dólares, lo que implica un crecimiento orgánico de ingresos del 3-4% y una EPS no GAAP de $2,36-$2,41.
브루커 (BRKR)는 2024년 3분기 수익이 8억 6440만 달러에 달했다고 보고했으며, 이는 전년 동기 대비 16.4% 증가한 수치로, 유기적 수익 성장률은 3.1%에 달했습니다. 회사의 GAAP 희석 EPS는 $0.27이었고, 비 GAAP 희석 EPS는 $0.60에 도달했습니다. 두 자릿수의 CER 수익 성장을 기록했음에도 불구하고, 브루커는 바이오제약 및 중국 복구 지연으로 인해 2024 회계연도 가이던스를 하향 조정했습니다. 업데이트된 가이던스는 수익을 33억 4천만 달러에서 33억 7천만 달러 사이로 예상하며, 이는 유기적 수익 성장률이 3-4% 및 비 GAAP EPS가 $2.36-$2.41임을 나타냅니다.
Bruker (BRKR) a annoncé des revenus pour le troisième trimestre 2024 s'élevant à 864,4 millions de dollars, soit une augmentation de 16,4 % par rapport à l'année précédente, avec une croissance organique des revenus de 3,1 %. L'EPS dilué GAAP de l'entreprise était de 0,27 $, tandis que l'EPS dilué non GAAP a atteint 0,60 $. Malgré l'annonce d'une croissance des revenus à deux chiffres en CER, Bruker a réduit ses prévisions pour l'exercice 2024 en raison de retards dans la reprise du secteur biopharmaceutique et en Chine. Les prévisions mises à jour estiment les revenus entre 3,34 et 3,37 milliards de dollars, impliquant une croissance organique des revenus de 3 à 4 % et un EPS non GAAP de 2,36 $ à 2,41 $.
Bruker (BRKR) meldete für das 3. Quartal 2024 Einnahmen von 864,4 Millionen Dollar, was einem Anstieg von 16,4% im Vergleich zum Vorjahr entspricht, mit einem organischen Umsatzwachstum von 3,1%. Der GAAP verwässerte EPS des Unternehmens betrug $0,27, während der nicht-GAAP verwässerte EPS $0,60 erreichte. Trotz der Meldung eines zweistelligen CER-Umsatzwachstums senkte Bruker seine Prognose für das Geschäftsjahr 2024 aufgrund von Verzögerungen bei der Wiederherstellung im Bereich Biopharma und in China. Die aktualisierte Prognose erwartet Einnahmen zwischen 3,34 und 3,37 Milliarden Dollar, was ein organisches Umsatzwachstum von 3-4% impliziert und einen nicht-GAAP EPS von $2,36-$2,41.
- Revenue increased 16.4% YoY to $864.4 million
- BSI segment revenues grew 18.2% YoY to $799.5 million
- Constant-exchange rate (CER) revenue growth of 15.7%
- Upper mid-single digit BSI organic bookings growth in Q3
- GAAP operating income decreased to $68.1M from $124.5M YoY
- Non-GAAP operating margin declined 510 basis points to 14.9%
- GAAP diluted EPS decreased to $0.27 from $0.60 YoY
- Lowered FY2024 guidance due to biopharma and China recovery delays
- Non-GAAP diluted EPS declined 18.9% to $0.60
Insights
The Q3 2024 results present a mixed picture with significant concerns. While total revenue grew
The lowered FY2024 guidance is particularly concerning, with management citing delays in biopharma and China recovery. The new EPS guidance of
The BSI segment's
The scientific instruments market is showing signs of sectoral weakness, particularly in key growth areas. The continued softness in biopharma spending and delayed China recovery highlight broader industry challenges that could persist into 2025. The
Acquisition-driven growth of
-
Q3 2024 revenues of
$864.4 million 16.4% year-over-year (yoy); Bruker organic revenue up3.1% yoy, and CER revenue up15.7% yoy; BSI segment organic revenue up3.8% yoy -
Q3 2024 GAAP diluted EPS
$0.27 $0.60 -
Updated FY2024 guidance:
-
Revenue
$3.34 $3.37 billion 3% to4% , and CER revenue growth of approximately13% yoy -
Non-GAAP EPS of
$2.36 $2.41
-
Revenue
Frank H. Laukien, Bruker’s President and CEO, commented: “Bruker has again posted double-digit year-over-year CER revenue growth, and above-market organic revenue growth, in Q3 and year-to-date. This is a testament to our Project Accelerate transformation, and to our operational excellence processes driving improvements in our strategic acquisitions. We have delivered sequential operating margin improvements in Q3, and we expect further sequential margin improvements, along with double-digit CER revenue growth, also in the fourth quarter.”
He continued: “Despite biopharma and
Third Quarter 2024 Financial Results
Bruker’s revenues for the third quarter of 2024 were
Third quarter 2024 Bruker Scientific Instruments (BSI) revenues of
Third quarter 2024 GAAP operating income was
Third quarter 2024 GAAP diluted earnings per share (EPS) were
First Nine Months of 2024 Financial Results
For the first nine months of 2024, Bruker’s revenues were
In the first nine months of 2024, BSI revenues of
In the first nine months of 2024, GAAP operating income was
First nine months 2024 GAAP diluted EPS was
A reconciliation of non-GAAP to GAAP financial measures is provided in the tables accompanying this press release.
Fiscal Year 2024 (FY 2024) Financial Outlook
For FY 2024, Bruker now expects revenues of
-
Organic revenue growth of
3% to4% , -
Contribution from M&A of approximately
9.5% , - Foreign currency translation impact approximately neutral,
-
CER revenue growth of approximately
13% .
Bruker now expects FY 2024 non-GAAP EPS of
Updated FY 2024 revenue and non-GAAP EPS guidance is based on foreign currency exchange rates as of September 30, 2024.
For the Company’s outlook for 2024 organic revenue growth, M&A revenue growth, constant exchange rate revenue growth, and non-GAAP EPS, we are not able to provide without unreasonable effort the most directly comparable GAAP financial measures, or reconciliations to such GAAP financial measures on a forward-looking basis. Please see “Use of Non-GAAP Financial Measures” below for a description of items excluded from our expected non-GAAP EPS.
Quarterly Earnings Call
Bruker will host a conference call and webcast to discuss its financial results, business outlook, and related corporate and financial matters today, November 5, 2024, at 8:30 am Eastern Time. To listen to the webcast, investors can go to http://ir.bruker.com and click on the “Q3 2024 Earnings Webcast” hyperlink. A slide presentation will be referenced during the webcast and will be posted to our Investor Relations website shortly before the webcast begins. Investors can also listen to the earnings webcast via telephone by dialing 1-888-437-2685 (
Bruker is enabling investors to pre-register for the earnings conference call so that they can expedite their entry into the call and avoid the need to wait for a live operator. In order to pre-register for the call, investors can visit https://dpregister.com/sreg/10193829/fdca035215 and enter their contact information. Investors will then be issued a personalized phone number and PIN to dial into the live conference call. Individuals can pre-register any time prior to the start of the conference call on November 5.
A telephone replay of the conference call will be available by dialing 1-877-344-7529 (
About Bruker Corporation – Leader of the Post-Genomic Era (Nasdaq: BRKR)
Bruker is enabling scientists and engineers to make breakthrough post-genomic discoveries and develop new applications that improve the quality of human life. Bruker’s high-performance scientific instruments and high-value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular, and microscopic levels. In close cooperation with our customers, Bruker is enabling innovation, improved productivity, and customer success in post-genomic life science molecular and cell biology research, in applied and biopharma applications, in microscopy and nanoanalysis, as well as in industrial and cleantech research, and next-gen semiconductor metrology in support of AI. Bruker offers differentiated, high-value life science and diagnostics systems and solutions in preclinical imaging, clinical phenomics research, proteomics and multiomics, spatial and single-cell biology, functional structural and condensate biology, as well as in clinical microbiology and molecular diagnostics. For more information, please visit www.bruker.com.
Use of Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with
We also may refer to constant-exchange rate (CER) currency revenue growth and free cash flow or use which are also non-GAAP financial measures. We define the term CER currency revenue as GAAP revenue excluding the effect of changes in foreign currency translation rates. We define free cash flow as net cash provided by operating activities less additions to property, plant, and equipment. We believe free cash flow is a useful measure to evaluate our business because it indicates the amount of cash generated after additions to property, plant, and equipment that is available for, among other things, acquisitions, investments in our business, repayment of debt and return of capital to shareholders.
The presentation of these non-GAAP financial measures is not intended to be a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP and may be different from non-GAAP financial measures used by other companies, and therefore, may not be comparable among companies. We believe these non-GAAP financial measures provide meaningful supplemental information regarding our performance, however, we urge investors to review the reconciliation of these financial measures to the comparable GAAP financial measures included in the accompanying tables, and not to rely on any single financial measure to evaluate our business. Specifically, management believes that the non-GAAP measures mentioned above provide relevant and useful information which is widely used by analysts, investors and competitors in our industry, as well as by our management, in assessing both consolidated and business unit performance.
We use these non-GAAP financial measures to evaluate our period-over-period operating performance because our management believes this provides a more comparable measure of our continuing business by adjusting for certain items that are not reflective of the underlying performance of our business. These measures may also be useful to investors in evaluating the underlying operating performance of our business and forecasting future results. We regularly use these non-GAAP financial measures internally to understand, manage, and evaluate our business results and make operating decisions. We also measure our employees and compensate them, in part, based on certain non-GAAP measures and use this information for our planning and forecasting activities.
Additional information relating to the non-GAAP financial measures used in this press release and reconciliations to the most directly comparable GAAP financial measures are provided in the tables accompanying this press release following our GAAP financial statements.
With respect to our outlook for 2024 non-GAAP organic revenue, non-GAAP M&A revenue, non-GAAP constant exchange rate (CER) revenue and non-GAAP EPS, we are not providing the most directly comparable GAAP financial measures or corresponding reconciliations to such GAAP financial measures on a forward-looking basis, because we are unable to predict with reasonable certainty certain items that may affect such measures calculated and presented in accordance with GAAP without unreasonable effort. Our expected non-GAAP organic revenue and EPS ranges exclude primarily the future impact of restructuring actions, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments. These reconciling items are uncertain, depend on various factors outside our management’s control and could significantly impact, either individually or in the aggregate, our future period revenues and EPS presented in accordance with GAAP.
Forward-Looking Statements
Any statements contained in this press release which do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our fiscal year 2024 and 2025 financial outlook, our outlook for reported revenue growth, organic revenue growth, M&A revenue growth contributions, CER currency revenue growth, margin improvements, foreign currency translation revenue impact and non-GAAP EPS; management’s expectations for the impact of foreign currency and acquisitions; and for future financial and operational performance and business outlook; future economic conditions; and statements found under the “Use of Non-GAAP Financial Measures” section of this release. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, the length and severity of any recession and the impact on global economic conditions, the impact of supply chain challenges, including inflationary pressures, the impact of geopolitical tensions and any sanctions, including any reduction in natural gas exports from
Bruker Corporation
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September 30,
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December 31,
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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$ |
148.1 |
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$ |
488.3 |
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Accounts receivable, net |
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538.4 |
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492.0 |
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Inventories |
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1,220.4 |
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968.3 |
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Other current assets |
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284.5 |
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215.6 |
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Total current assets |
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2,191.4 |
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2,164.2 |
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Property, plant and equipment, net |
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693.9 |
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599.7 |
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Goodwill, intangibles, net and other long-term assets |
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3,227.6 |
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1,486.0 |
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Total assets |
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$ |
6,112.9 |
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$ |
4,249.9 |
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LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND SHAREHOLDERS’ EQUITY |
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Current liabilities: |
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Current portion of long-term debt |
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$ |
32.8 |
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$ |
121.2 |
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Accounts payable |
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227.5 |
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|
202.7 |
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Deferred revenue and customer advances |
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466.7 |
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400.0 |
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Other current liabilities |
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595.1 |
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478.2 |
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Total current liabilities |
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1,322.1 |
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1,202.1 |
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Long-term debt |
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2,264.5 |
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1,160.3 |
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Other long-term liabilities |
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683.2 |
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474.2 |
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Redeemable noncontrolling interests |
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18.0 |
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18.7 |
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Total shareholders' equity |
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1,825.1 |
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1,394.6 |
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Total liabilities, redeemable noncontrolling interests and shareholders' equity |
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$ |
6,112.9 |
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$ |
4,249.9 |
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Bruker Corporation
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Three Months Ended
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Nine Months Ended
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2024 |
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2023 |
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2024 |
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2023 |
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Revenue |
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$ |
864.4 |
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$ |
742.8 |
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$ |
2,386.8 |
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$ |
2,110.0 |
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Cost of revenue |
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445.6 |
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360.0 |
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1,230.6 |
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1,027.0 |
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Gross profit |
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418.8 |
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382.8 |
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1,156.2 |
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1,083.0 |
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Operating expenses: |
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Selling, general and administrative |
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229.9 |
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177.6 |
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646.5 |
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518.2 |
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Research and development |
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98.1 |
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71.3 |
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272.1 |
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211.3 |
|
Other charges, net |
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22.7 |
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|
9.4 |
|
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|
56.6 |
|
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|
20.1 |
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Total operating expenses |
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|
350.7 |
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|
258.3 |
|
|
|
975.2 |
|
|
|
749.6 |
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Operating income |
|
|
68.1 |
|
|
|
124.5 |
|
|
|
181.0 |
|
|
|
333.4 |
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Interest and other income (expense), net |
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(12.8 |
) |
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(5.3 |
) |
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(30.2 |
) |
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(30.1 |
) |
Income before income taxes, equity in income (losses) of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries (a) |
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55.3 |
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119.2 |
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150.8 |
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|
303.3 |
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Income tax provision |
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14.8 |
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|
30.8 |
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50.7 |
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80.6 |
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Equity in income (losses) of unconsolidated investees, net of tax |
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(0.2 |
) |
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0.3 |
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(0.2 |
) |
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1.2 |
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Consolidated net income |
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40.3 |
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88.7 |
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99.9 |
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223.9 |
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Net income (loss) attributable to noncontrolling interests in consolidated subsidiaries |
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(0.6 |
) |
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0.6 |
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0.5 |
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2.2 |
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Net income attributable to Bruker Corporation |
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$ |
40.9 |
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$ |
88.1 |
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$ |
99.4 |
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$ |
221.7 |
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Net income per common share attributable to Bruker Corporation shareholders: |
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Basic |
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$ |
0.27 |
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$ |
0.60 |
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$ |
0.67 |
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$ |
1.51 |
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Diluted |
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$ |
0.27 |
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$ |
0.60 |
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$ |
0.67 |
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$ |
1.50 |
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Weighted average common shares outstanding: |
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Basic |
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151.5 |
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146.6 |
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148.1 |
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146.7 |
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Diluted |
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152.0 |
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147.3 |
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148.7 |
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147.5 |
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a) On subsequent pages this is referred to as “Profit before income tax”. |
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Bruker Corporation
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Three Months Ended
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Nine Months Ended
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2024 |
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2023 |
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2024 |
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2023 |
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Cash flows from operating activities: |
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Consolidated net income |
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$ |
40.3 |
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$ |
88.7 |
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$ |
99.9 |
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$ |
223.9 |
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Adjustments to reconcile consolidated net income to cash flows from operating activities: |
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Depreciation and amortization |
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51.0 |
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26.6 |
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130.9 |
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77.6 |
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Stock-based compensation expense |
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6.3 |
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5.7 |
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18.5 |
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|
17.8 |
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Deferred income taxes |
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(21.9 |
) |
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3.4 |
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(44.2 |
) |
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12.8 |
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Impairment of minority investments and other long-lived assets |
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5.9 |
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1.2 |
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27.5 |
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|
19.5 |
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Gain on sale of minority investment |
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— |
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— |
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— |
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(6.8 |
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Loss (Gain) on sale of property, plant and equipment |
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1.7 |
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0.2 |
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2.5 |
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(9.4 |
) |
Other non-cash (income) expenses, net |
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2.5 |
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2.3 |
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(4.6 |
) |
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18.3 |
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Changes in operating assets and liabilities, net of acquisitions and divestitures: |
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Accounts receivable |
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(18.8 |
) |
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(42.9 |
) |
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10.7 |
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(12.4 |
) |
Inventories |
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(11.1 |
) |
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(32.9 |
) |
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(105.1 |
) |
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(147.3 |
) |
Accounts payable and accrued expenses |
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20.9 |
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14.5 |
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26.5 |
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11.1 |
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Income taxes payable, net |
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5.0 |
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4.3 |
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(17.4 |
) |
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(13.5 |
) |
Deferred revenue and customer advances |
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(51.4 |
) |
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(14.6 |
) |
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(49.3 |
) |
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6.5 |
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Other changes in operating assets and liabilities, net |
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8.0 |
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(12.4 |
) |
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(34.6 |
) |
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(53.5 |
) |
Net cash provided by operating activities |
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|
38.4 |
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|
44.1 |
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|
61.3 |
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|
144.6 |
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Cash flows from investing activities: |
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Purchases of property, plant and equipment |
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(32.6 |
) |
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(26.9 |
) |
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(78.6 |
) |
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(75.4 |
) |
Proceeds from sale of minority investment |
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— |
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— |
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— |
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|
11.8 |
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Cash paid for minority investments |
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(36.0 |
) |
|
|
(10.0 |
) |
|
|
(46.0 |
) |
|
|
(19.3 |
) |
Cash paid for acquisitions, net of cash acquired |
|
|
(0.2 |
) |
|
|
(119.6 |
) |
|
|
(1,576.7 |
) |
|
|
(222.3 |
) |
Proceeds from sales of property, plant and equipment |
|
|
— |
|
|
|
0.2 |
|
|
|
0.9 |
|
|
|
10.9 |
|
Net proceeds from cross-currency swap agreements |
|
|
1.2 |
|
|
|
1.3 |
|
|
|
3.7 |
|
|
|
5.1 |
|
Net cash used in investing activities |
|
|
(67.6 |
) |
|
|
(155.0 |
) |
|
|
(1,696.7 |
) |
|
|
(289.2 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Repayments of revolving lines of credit |
|
|
(148.5 |
) |
|
|
— |
|
|
|
(1,008.6 |
) |
|
|
— |
|
Proceeds from revolving lines of credit |
|
|
0.1 |
|
|
|
— |
|
|
|
1,093.4 |
|
|
|
— |
|
Repayment of other debt, net |
|
|
(6.0 |
) |
|
|
(2.5 |
) |
|
|
(16.5 |
) |
|
|
(7.0 |
) |
Proceeds from 2024 Note Purchase Agreements |
|
|
— |
|
|
|
— |
|
|
|
472.1 |
|
|
|
— |
|
Proceeds from 2024 Term Loan Agreements |
|
|
166.1 |
|
|
|
— |
|
|
|
495.6 |
|
|
|
— |
|
Proceeds from other long-term debt |
|
|
0.7 |
|
|
|
0.4 |
|
|
|
4.8 |
|
|
|
3.2 |
|
Repayment of 2012 Note Purchase Agreement |
|
|
— |
|
|
|
— |
|
|
|
(100.0 |
) |
|
|
— |
|
Repayment of 2019 Term Loan Agreement |
|
|
(3.8 |
) |
|
|
(3.8 |
) |
|
|
(11.3 |
) |
|
|
(11.3 |
) |
Payment of deferred financing costs |
|
|
— |
|
|
|
— |
|
|
|
(5.5 |
) |
|
|
— |
|
Proceeds from Public Offering of common stock, net of issuance costs |
|
|
— |
|
|
|
— |
|
|
|
403.0 |
|
|
|
— |
|
Proceeds from (payment for) issuance of common stock under employee stock plans, net |
|
|
(2.9 |
) |
|
|
2.0 |
|
|
|
2.8 |
|
|
|
4.8 |
|
Payment of contingent consideration |
|
|
(0.9 |
) |
|
|
(0.2 |
) |
|
|
(1.4 |
) |
|
|
(2.7 |
) |
Payment of dividends to common shareholders |
|
|
(7.6 |
) |
|
|
(7.4 |
) |
|
|
(22.6 |
) |
|
|
(22.1 |
) |
Repurchase of common stock |
|
|
— |
|
|
|
(79.5 |
) |
|
|
— |
|
|
|
(101.9 |
) |
Proceeds from (payment for) the sale (purchase) of noncontrolling interests |
|
|
— |
|
|
|
(1.5 |
) |
|
|
(1.0 |
) |
|
|
3.5 |
|
Net cash provided by (used in) financing activities |
|
|
(2.8 |
) |
|
|
(92.5 |
) |
|
|
1,304.8 |
|
|
|
(133.5 |
) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
|
10.4 |
|
|
|
(7.9 |
) |
|
|
(9.3 |
) |
|
|
(3.7 |
) |
Net (decrease) in cash, cash equivalents and restricted cash |
|
|
(21.5 |
) |
|
|
(211.3 |
) |
|
|
(339.9 |
) |
|
|
(281.8 |
) |
Cash, cash equivalents and restricted cash at beginning of period |
|
|
173.2 |
|
|
|
578.2 |
|
|
|
491.6 |
|
|
|
648.7 |
|
Cash, cash equivalents and restricted cash at end of period |
|
$ |
151.7 |
|
|
$ |
366.9 |
|
|
$ |
151.7 |
|
|
$ |
366.9 |
|
Bruker Corporation
|
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Gross Profit |
|
$ |
418.8 |
|
|
$ |
382.8 |
|
|
$ |
1,156.2 |
|
|
$ |
1,083.0 |
|
Gross Profit Margin |
|
|
48.4 |
% |
|
|
51.5 |
% |
|
|
48.4 |
% |
|
|
51.3 |
% |
SG&A Expenses |
|
$ |
229.9 |
|
|
$ |
177.6 |
|
|
$ |
646.5 |
|
|
$ |
518.2 |
|
Interest and other income (expense), net |
|
$ |
(12.8 |
) |
|
$ |
(5.3 |
) |
|
$ |
(30.2 |
) |
|
$ |
(30.1 |
) |
Operating Income |
|
$ |
68.1 |
|
|
$ |
124.5 |
|
|
$ |
181.0 |
|
|
$ |
333.4 |
|
Operating Income Margin |
|
|
7.9 |
% |
|
|
16.8 |
% |
|
|
7.6 |
% |
|
|
15.8 |
% |
Profit before income tax |
|
$ |
55.3 |
|
|
$ |
119.2 |
|
|
$ |
150.8 |
|
|
$ |
303.3 |
|
Income Tax rate |
|
|
26.8 |
% |
|
|
25.8 |
% |
|
|
33.6 |
% |
|
|
26.6 |
% |
Net Income attributable to Bruker Corporation |
|
$ |
40.9 |
|
|
$ |
88.1 |
|
|
$ |
99.4 |
|
|
$ |
221.7 |
|
Diluted net income per common share attributable to Bruker Corporation shareholders |
|
$ |
0.27 |
|
|
$ |
0.60 |
|
|
$ |
0.67 |
|
|
$ |
1.50 |
|
Net cash provided by operating activities |
|
$ |
38.4 |
|
|
$ |
44.1 |
|
|
$ |
61.3 |
|
|
$ |
144.6 |
|
Revenue |
|
$ |
864.4 |
|
|
$ |
742.8 |
|
|
$ |
2,386.8 |
|
|
$ |
2,110.0 |
|
Revenue Growth Rate |
|
|
16.4 |
% |
|
|
16.3 |
% |
|
|
13.1 |
% |
|
|
15.8 |
% |
Non-GAAP Financial Measures |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Non-GAAP Gross Profit |
|
$ |
442.2 |
|
|
$ |
391.6 |
|
|
$ |
1,222.7 |
|
|
$ |
1,104.8 |
|
Non-GAAP Gross Profit Margin |
|
|
51.2 |
% |
|
|
52.7 |
% |
|
|
51.2 |
% |
|
|
52.4 |
% |
Non-GAAP SG&A Expenses |
|
$ |
215.2 |
|
|
$ |
172.0 |
|
|
$ |
610.5 |
|
|
$ |
501.7 |
|
Non-GAAP Interest and other income (expense), net |
|
$ |
(8.8 |
) |
|
$ |
(5.3 |
) |
|
$ |
(6.0 |
) |
|
$ |
(16.0 |
) |
Non-GAAP Operating Income |
|
$ |
129.1 |
|
|
$ |
148.3 |
|
|
$ |
340.5 |
|
|
$ |
391.8 |
|
Non-GAAP Operating Income Margin |
|
|
14.9 |
% |
|
|
20.0 |
% |
|
|
14.3 |
% |
|
|
18.6 |
% |
Non-GAAP Profit before income tax |
|
$ |
120.3 |
|
|
$ |
143.0 |
|
|
$ |
334.5 |
|
|
$ |
375.8 |
|
Non-GAAP Income Tax rate |
|
|
24.9 |
% |
|
|
23.8 |
% |
|
|
26.6 |
% |
|
|
25.6 |
% |
Non-GAAP Net Income attributable to Bruker Corporation |
|
$ |
91.0 |
|
|
$ |
108.3 |
|
|
$ |
245.1 |
|
|
$ |
277.4 |
|
Non-GAAP Diluted earnings per share |
|
$ |
0.60 |
|
|
$ |
0.74 |
|
|
$ |
1.65 |
|
|
$ |
1.88 |
|
Non-GAAP Free Cash Flow |
|
$ |
5.8 |
|
|
$ |
17.2 |
|
|
$ |
(17.3 |
) |
|
$ |
69.2 |
|
Non-GAAP Constant-exchange rate (CER) currency revenue |
|
$ |
859.2 |
|
|
$ |
721.9 |
|
|
$ |
2,390.0 |
|
|
$ |
2,113.4 |
|
Non-GAAP Constant-exchange rate (CER) currency revenue growth rate |
|
|
15.7 |
% |
|
|
13.0 |
% |
|
|
13.2 |
% |
|
|
15.9 |
% |
The GAAP to Non-GAAP reconciliations of the above financial measures are detailed in the following pages.
Bruker Corporation
|
||||||||||||||||||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||||||||||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||||||||||||||||||
GAAP gross profit |
|
$ |
418.8 |
|
|
|
48.4 |
% |
|
$ |
382.8 |
|
|
|
51.5 |
% |
|
$ |
1,156.2 |
|
|
|
48.4 |
% |
|
$ |
1,083.0 |
|
|
|
51.3 |
% |
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Restructuring costs |
|
|
1.2 |
|
|
|
0.1 |
% |
|
|
1.1 |
|
|
|
0.1 |
% |
|
|
9.8 |
|
|
|
0.4 |
% |
|
|
1.4 |
|
|
|
0.1 |
% |
Acquisition-related costs |
|
|
6.8 |
|
|
|
0.8 |
% |
|
|
— |
|
|
|
— |
|
|
|
18.5 |
|
|
|
0.8 |
% |
|
|
0.5 |
|
|
|
0.1 |
% |
Purchased intangibles amortization |
|
|
13.9 |
|
|
|
1.6 |
% |
|
|
5.9 |
|
|
|
0.8 |
% |
|
|
33.7 |
|
|
|
1.4 |
% |
|
|
16.9 |
|
|
|
0.8 |
% |
Other costs |
|
|
1.5 |
|
|
|
0.3 |
% |
|
|
1.8 |
|
|
|
0.2 |
% |
|
|
4.5 |
|
|
|
0.2 |
% |
|
|
3.0 |
|
|
|
0.1 |
% |
Total Non-GAAP adjustments |
|
|
23.4 |
|
|
|
2.8 |
% |
|
|
8.8 |
|
|
|
1.1 |
% |
|
|
66.5 |
|
|
|
2.8 |
% |
|
|
21.8 |
|
|
|
1.1 |
% |
Non-GAAP gross profit |
|
$ |
442.2 |
|
|
|
51.2 |
% |
|
$ |
391.6 |
|
|
|
52.6 |
% |
|
$ |
1,222.7 |
|
|
|
51.2 |
% |
|
$ |
1,104.8 |
|
|
|
52.4 |
% |
Selling, General and Administrative (“SG&A”) Expenses |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
GAAP SG&A expenses |
|
$ |
229.9 |
|
|
$ |
177.6 |
|
|
$ |
646.5 |
|
|
$ |
518.2 |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Purchased intangibles amortization |
|
|
(14.7 |
) |
|
|
(5.6 |
) |
|
|
(36.0 |
) |
|
|
(16.5 |
) |
Non-GAAP SG&A expenses |
|
$ |
215.2 |
|
|
$ |
172.0 |
|
|
$ |
610.5 |
|
|
$ |
501.7 |
|
Interest and Other Income (Expense), net |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
GAAP interest and other income (expense), net |
|
$ |
(12.8 |
) |
|
$ |
(5.3 |
) |
|
$ |
(30.2 |
) |
|
$ |
(30.1 |
) |
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Investments related adjustments |
|
|
4.0 |
|
|
|
— |
|
|
|
24.2 |
|
|
|
14.1 |
|
Non-GAAP interest and other income (expense), net |
|
$ |
(8.8 |
) |
|
$ |
(5.3 |
) |
|
$ |
(6.0 |
) |
|
$ |
(16.0 |
) |
Operating Income and Operating Income Margin |
||||||||||||||||||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||||||||||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||||||||||||||||||
Operating income |
|
$ |
68.1 |
|
|
|
7.9 |
% |
|
$ |
124.5 |
|
|
|
16.8 |
% |
|
$ |
181.0 |
|
|
|
7.6 |
% |
|
$ |
333.4 |
|
|
|
15.8 |
% |
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Restructuring costs |
|
|
4.3 |
|
|
|
0.5 |
% |
|
|
4.8 |
|
|
|
0.6 |
% |
|
|
17.6 |
|
|
|
0.7 |
% |
|
|
5.7 |
|
|
|
0.3 |
% |
Acquisition-related costs |
|
|
13.3 |
|
|
|
1.5 |
% |
|
|
1.6 |
|
|
|
0.2 |
% |
|
|
46.4 |
|
|
|
1.9 |
% |
|
|
7.9 |
|
|
|
0.3 |
% |
Purchased intangibles amortization |
|
|
28.8 |
|
|
|
3.3 |
% |
|
|
11.5 |
|
|
|
1.5 |
% |
|
|
70.1 |
|
|
|
2.9 |
% |
|
|
33.4 |
|
|
|
1.6 |
% |
Other costs |
|
|
14.6 |
|
|
|
1.7 |
% |
|
|
5.9 |
|
|
|
0.9 |
% |
|
|
25.4 |
|
|
|
1.2 |
% |
|
|
11.4 |
|
|
|
0.5 |
% |
Total Non-GAAP adjustments |
|
|
61.0 |
|
|
|
7.0 |
% |
|
|
23.8 |
|
|
|
3.2 |
% |
|
|
159.5 |
|
|
|
6.7 |
% |
|
|
58.4 |
|
|
|
2.7 |
% |
Non-GAAP operating income |
|
$ |
129.1 |
|
|
|
14.9 |
% |
|
$ |
148.3 |
|
|
|
20.0 |
% |
|
$ |
340.5 |
|
|
|
14.3 |
% |
|
$ |
391.8 |
|
|
|
18.5 |
% |
Bruker Corporation
|
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
GAAP profit before income tax |
|
$ |
55.3 |
|
|
$ |
119.2 |
|
|
$ |
150.8 |
|
|
$ |
303.3 |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Restructuring costs |
|
|
4.3 |
|
|
|
4.8 |
|
|
|
17.6 |
|
|
|
5.7 |
|
Acquisition-related costs |
|
|
13.3 |
|
|
|
1.6 |
|
|
|
46.4 |
|
|
|
7.9 |
|
Purchased intangibles amortization |
|
|
28.8 |
|
|
|
11.5 |
|
|
|
70.1 |
|
|
|
33.4 |
|
Investments related adjustments |
|
|
4.0 |
|
|
|
— |
|
|
|
24.2 |
|
|
|
14.1 |
|
Other costs |
|
|
14.6 |
|
|
|
5.9 |
|
|
|
25.4 |
|
|
|
11.4 |
|
Total Non-GAAP adjustments |
|
|
65.0 |
|
|
|
23.8 |
|
|
|
183.7 |
|
|
|
72.5 |
|
Non-GAAP profit before income tax |
|
$ |
120.3 |
|
|
$ |
143.0 |
|
|
$ |
334.5 |
|
|
$ |
375.8 |
|
Income Tax Rate |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
GAAP income tax rate |
|
|
26.8 |
% |
|
|
25.8 |
% |
|
|
33.6 |
% |
|
|
26.6 |
% |
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Tax impact of non-GAAP adjustments |
|
|
-3.4 |
% |
|
|
-0.7 |
% |
|
|
-5.5 |
% |
|
|
-0.2 |
% |
Other discrete items |
|
|
1.5 |
% |
|
|
-1.4 |
% |
|
|
-1.5 |
% |
|
|
-0.8 |
% |
Total Non-GAAP adjustments |
|
|
-1.9 |
% |
|
|
-2.1 |
% |
|
|
-7.0 |
% |
|
|
-1.0 |
% |
Non-GAAP income tax rate |
|
|
24.9 |
% |
|
|
23.8 |
% |
|
|
26.6 |
% |
|
|
25.6 |
% |
Net Income Attributable to Bruker Corporation |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
GAAP Net Income attributable to Bruker Corporation |
|
$ |
40.9 |
|
|
$ |
88.1 |
|
|
$ |
99.4 |
|
|
$ |
221.7 |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Restructuring costs |
|
|
4.3 |
|
|
|
4.8 |
|
|
|
17.6 |
|
|
|
5.7 |
|
Acquisition-related costs |
|
|
13.3 |
|
|
|
1.6 |
|
|
|
46.4 |
|
|
|
7.9 |
|
Purchased intangibles amortization |
|
|
28.8 |
|
|
|
11.5 |
|
|
|
70.1 |
|
|
|
33.4 |
|
Investments related adjustments |
|
|
4.0 |
|
|
|
— |
|
|
|
24.2 |
|
|
|
14.1 |
|
Other costs |
|
|
14.6 |
|
|
|
5.9 |
|
|
|
25.4 |
|
|
|
11.4 |
|
Tax effect of Non-GAAP adjustments |
|
|
(15.1 |
) |
|
|
(3.3 |
) |
|
|
(38.2 |
) |
|
|
(15.6 |
) |
Total Non-GAAP adjustments |
|
|
49.9 |
|
|
|
20.5 |
|
|
|
145.5 |
|
|
|
56.9 |
|
Minority Interest |
|
|
(0.2 |
) |
|
|
0.3 |
|
|
|
(0.2 |
) |
|
|
1.2 |
|
Non-GAAP Net Income attributable to Bruker Corporation |
|
$ |
91.0 |
|
|
$ |
108.3 |
|
|
$ |
245.1 |
|
|
$ |
277.4 |
|
Weighted Average Shares Outstanding (Diluted) |
|
|
152.0 |
|
|
|
147.3 |
|
|
|
148.7 |
|
|
|
147.5 |
|
Non-GAAP Diluted Earnings Per Share |
|
$ |
0.60 |
|
|
$ |
0.74 |
|
|
$ |
1.65 |
|
|
$ |
1.88 |
|
Bruker Corporation
|
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Diluted net income per common share attributable to Bruker Corporation shareholders |
|
$ |
0.27 |
|
|
$ |
0.60 |
|
|
$ |
0.67 |
|
|
$ |
1.50 |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Restructuring Costs |
|
|
0.03 |
|
|
|
0.03 |
|
|
|
0.12 |
|
|
|
0.04 |
|
Acquisition-related costs |
|
|
0.09 |
|
|
|
0.01 |
|
|
|
0.31 |
|
|
|
0.05 |
|
Purchased intangibles amortization |
|
|
0.19 |
|
|
|
0.08 |
|
|
|
0.47 |
|
|
|
0.23 |
|
Other costs |
|
|
0.10 |
|
|
|
0.04 |
|
|
|
0.17 |
|
|
|
0.08 |
|
Interest and other income (expense), net |
|
|
0.03 |
|
|
|
— |
|
|
|
0.16 |
|
|
|
0.10 |
|
Tax effect of Non-GAAP adjustments |
|
|
(0.11 |
) |
|
|
(0.02 |
) |
|
|
(0.25 |
) |
|
|
(0.11 |
) |
Total Non-GAAP adjustments |
|
|
0.33 |
|
|
|
0.14 |
|
|
|
0.98 |
|
|
|
0.39 |
|
Minority Interest |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(0.01 |
) |
Non-GAAP earnings per share (diluted) |
|
$ |
0.60 |
|
|
$ |
0.74 |
|
|
$ |
1.65 |
|
|
$ |
1.88 |
|
Free Cash Flow |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net cash provided by operating activities |
|
$ |
38.4 |
|
|
$ |
44.1 |
|
|
$ |
61.3 |
|
|
$ |
144.6 |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Purchases of property, plant and equipment |
|
|
(32.6 |
) |
|
|
(26.9 |
) |
|
|
(78.6 |
) |
|
|
(75.4 |
) |
Non-GAAP free cash flow (use) |
|
$ |
5.8 |
|
|
$ |
17.2 |
|
|
$ |
(17.3 |
) |
|
$ |
69.2 |
|
Constant-exchange rate (CER) currency revenue growth |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
GAAP revenue |
|
$ |
864.4 |
|
|
$ |
742.8 |
|
|
$ |
2,386.8 |
|
|
$ |
2,110.0 |
|
Effect of changes in foreign currency translation rates |
|
|
(5.2 |
) |
|
|
(20.9 |
) |
|
|
3.2 |
|
|
|
3.4 |
|
Non-GAAP CER currency revenue |
|
$ |
859.2 |
|
|
$ |
721.9 |
|
|
$ |
2,390.0 |
|
|
$ |
2,113.4 |
|
GAAP Revenue growth rate |
|
|
16.4 |
% |
|
|
16.3 |
% |
|
|
13.1 |
% |
|
|
15.8 |
% |
Non-GAAP CER currency revenue growth rate |
|
|
15.7 |
% |
|
|
13.0 |
% |
|
|
13.2 |
% |
|
|
15.9 |
% |
Bruker Corporation
|
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Revenue by Segment: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Bruker BioSpin |
|
$ |
233.0 |
|
|
$ |
198.3 |
|
|
$ |
633.3 |
|
|
$ |
540.6 |
|
Bruker CALID |
|
|
279.4 |
|
|
|
239.3 |
|
|
|
772.9 |
|
|
|
703.2 |
|
Bruker Nano |
|
|
287.1 |
|
|
|
238.7 |
|
|
|
780.0 |
|
|
|
673.4 |
|
BEST |
|
|
68.7 |
|
|
|
70.6 |
|
|
|
210.9 |
|
|
|
205.5 |
|
Eliminations |
|
|
(3.8 |
) |
|
|
(4.1 |
) |
|
|
(10.3 |
) |
|
|
(12.7 |
) |
Total revenue |
|
$ |
864.4 |
|
|
$ |
742.8 |
|
|
$ |
2,386.8 |
|
|
$ |
2,110.0 |
|
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Revenue by End Customer Geography: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
$ |
239.0 |
|
|
$ |
211.1 |
|
|
$ |
677.5 |
|
|
$ |
565.5 |
|
|
|
|
290.0 |
|
|
|
252.0 |
|
|
|
810.6 |
|
|
|
697.1 |
|
|
|
|
262.4 |
|
|
|
229.3 |
|
|
|
711.7 |
|
|
|
692.8 |
|
Other |
|
|
73.0 |
|
|
|
50.4 |
|
|
|
187.0 |
|
|
|
154.6 |
|
Total revenue |
|
$ |
864.4 |
|
|
$ |
742.8 |
|
|
$ |
2,386.8 |
|
|
$ |
2,110.0 |
|
Bruker Corporation
|
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
|
|
Total Bruker |
|
|
Total Bruker |
|
||||||||||
GAAP revenue as of prior comparable period |
|
$ |
742.8 |
|
|
$ |
638.9 |
|
|
$ |
2,110.0 |
|
|
$ |
1,822.3 |
|
Acquisitions and divestitures revenue (1) |
|
|
93.1 |
|
|
|
13.5 |
|
|
|
194.9 |
|
|
|
37.2 |
|
Organic revenue (2) |
|
|
23.3 |
|
|
|
69.5 |
|
|
|
85.1 |
|
|
|
253.9 |
|
Effect of changes in foreign currency translation rates |
|
|
5.2 |
|
|
|
20.9 |
|
|
|
(3.2 |
) |
|
|
(3.4 |
) |
GAAP revenue |
|
$ |
864.4 |
|
|
$ |
742.8 |
|
|
$ |
2,386.8 |
|
|
$ |
2,110.0 |
|
Revenue growth |
|
|
16.4 |
% |
|
|
16.3 |
% |
|
|
13.1 |
% |
|
|
15.8 |
% |
Organic revenue growth |
|
|
3.1 |
% |
|
|
10.9 |
% |
|
|
4.0 |
% |
|
|
13.9 |
% |
Bruker Scientific Instruments |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
|
|
Bruker Scientific Instruments (3) |
|
|
Bruker Scientific Instruments (3) |
|
||||||||||
GAAP revenue as of prior comparable period |
|
$ |
676.3 |
|
|
$ |
582.3 |
|
|
$ |
1,917.2 |
|
|
$ |
1,654.1 |
|
Acquisitions and divestitures revenue (1) |
|
|
93.1 |
|
|
|
13.5 |
|
|
|
194.9 |
|
|
|
37.2 |
|
Organic revenue (2) |
|
|
25.4 |
|
|
|
63.7 |
|
|
|
78.0 |
|
|
|
232.4 |
|
Effect of changes in foreign currency translation rates |
|
|
4.7 |
|
|
|
16.8 |
|
|
|
(3.9 |
) |
|
|
(6.5 |
) |
GAAP revenue |
|
$ |
799.5 |
|
|
$ |
676.3 |
|
|
$ |
2,186.2 |
|
|
$ |
1,917.2 |
|
Revenue growth |
|
|
18.2 |
% |
|
|
16.1 |
% |
|
|
14.0 |
% |
|
|
15.9 |
% |
Organic revenue growth |
|
|
3.8 |
% |
|
|
10.9 |
% |
|
|
4.1 |
% |
|
|
14.0 |
% |
BEST, net of Intercompany Eliminations |
||||||||||||||||
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
|
|
BEST, net of Intercompany Eliminations |
|
|
BEST, net of Intercompany Eliminations |
|
||||||||||
GAAP revenue as of prior comparable period |
|
$ |
66.5 |
|
|
$ |
56.6 |
|
|
$ |
192.8 |
|
|
$ |
168.2 |
|
Organic revenue (2) |
|
|
(2.1 |
) |
|
|
5.8 |
|
|
|
7.1 |
|
|
|
21.5 |
|
Effect of changes in foreign currency translation rates |
|
|
0.5 |
|
|
|
4.1 |
|
|
|
0.7 |
|
|
|
3.1 |
|
GAAP revenue |
|
$ |
64.9 |
|
|
$ |
66.5 |
|
|
$ |
200.6 |
|
|
$ |
192.8 |
|
Revenue growth |
|
|
-2.4 |
% |
|
|
17.5 |
% |
|
|
4.0 |
% |
|
|
14.6 |
% |
Organic revenue growth |
|
|
-3.2 |
% |
|
|
10.2 |
% |
|
|
3.7 |
% |
|
|
12.8 |
% |
(1) We define the term acquisitions and divestitures revenue as GAAP revenue from M&A activities excluding the effect of changes in foreign currency translation rates.
(2) We define the term organic revenue as GAAP revenue excluding the effect of changes in foreign currency translation rates and the effect of acquisitions and divestitures.
(3) Bruker Scientific Instruments (BSI) revenue reflects the sum of the BSI BioSpin, CALID and Nano Segments as presented in our Annual Report on Form 10-K for the year ended December 31, 2023.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241105622939/en/
Joe Kostka
Director, Investor Relations
Bruker Corporation
T: +1 (978) 313-5800
E: Investor.Relations@bruker.com
Source: Bruker Corporation
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