Earnings Performance - Adjusted EPS for Q3 2024 was 60 cents, down 18.9% YoY, missing the Zacks Consensus Estimate by 1.6% [1] - GAAP EPS was 27 cents compared to 60 cents in the year-ago period [1] - Following the earnings announcement, BRKR stock rose 1.7% in aftermarket trading [2] Revenue Analysis - Q3 2024 revenues were $864.4 million, up 16.4% YoY but missed the Zacks Consensus Estimate by 0.1% [3] - Organic revenue growth was 3.1%, excluding 12.5% from acquisitions and 0.7% from foreign currency impacts [3] - US revenues increased 13.2% YoY to $239.0 million, exceeding the model forecast of $233.9 million [3] - Europe revenues rose 15.1% YoY to $290 million, below the model forecast of $322.1 million [4] - Asia Pacific revenues increased 14.4% YoY to $262.4 million, below the model forecast of $267.7 million [4] - Other category revenues surged 44.8% YoY to $73 million, significantly above the model forecast of $26.9 million [4] Segmental Performance - BSI segment revenues grew 18.2% YoY to $799.5 million [5] - BioSpin Group revenues increased 17.5% YoY to $233 million, below the model forecast of $247.3 million [6] - CALID revenues rose 16.8% YoY to $279.4 million, slightly below the model forecast of $280.8 million [7] - NANO revenues climbed 20.3% YoY to $287.1 million, above the model forecast of $260.8 million [7] - BEST segment revenues declined 2.7% YoY to $68.7 million, below the model forecast of $77.3 million [8] Margin Trends - Gross profit increased 9.4% to $418.6 million, but gross margin contracted 308 bps to 48.4% due to a 23.8% rise in costs [9] - SG&A expenses rose 30.2% to $229.9 million, and R&D expenses increased 37.6% YoY to $98.1 million [10] - Adjusted operating expenses grew 32.2% YoY to $328.0 million [10] - Adjusted operating profit declined 32.7% YoY to $90.8 million, with the adjusted operating margin contracting 766 bps to 10.5% [10] Financial Position - Cash and cash equivalents stood at $148.1 million at the end of Q3 2024, down from $169.7 million at the end of Q2 [11] - Total long-term debt increased to $2.26 billion from $1.16 billion at the end of Q2 [11] - Cumulative net cash flow from operating activities was $61.3 million, down from $144.6 million in the comparable period last year [11] 2024 Guidance - Full-year 2024 revenue guidance lowered to $3.34-$3.37 billion from $3.38-$3.44 billion, indicating YoY growth of 12.5%-13.5% [12] - Adjusted EPS guidance for 2024 revised to $2.36-$2.41 from $2.59-$2.64 [13] Strategic Developments - Completed three strategic acquisitions in H1 2024, accelerating portfolio transformation and market expansion into spatial biology, molecular diagnostics, and laboratory automation [15] Industry Comparison - Phibro Animal Health (PAHC) reported Q4 fiscal 2024 adjusted EPS of 41 cents, beating estimates by 20.6%, with revenues of $273.2 million exceeding estimates by 4.1% [16][17] - Quest Diagnostics (DGX) reported Q3 2024 adjusted EPS of $2.30, beating estimates by 1.8%, with revenues of $2.49 billion exceeding estimates by 3.4% [17] - HealthEquity (HQY) reported Q2 fiscal 2025 adjusted EPS of 86 cents, surpassing estimates by 22.9%, with revenues of $299.9 million exceeding estimates by 5.4% [18][19]

Q3 2024 Performance - Bruker's Q3 2024 revenue increased by $121.6 million, a +16.4% increase year-over-year[4] - The company's Q3 2024 organic growth was +3.1%, with BSI up +3.8% and BEST down -3.2% organically[4] - Acquisitions contributed +12.5% to Bruker's Q3 2024 revenue growth[4] - Bruker's Q3 2024 Non-GAAP EPS decreased by -18.9% to $0.60[4] YTD Q3 2024 Performance - Bruker's YTD Q3 2024 revenue increased by $276.8 million, a +13.1% increase year-over-year[5] - The company's YTD Q3 2024 organic growth was +4.0%, with BSI up +4.1% and BEST up +3.7% organically[5] - Acquisitions contributed +9.2% to Bruker's YTD Q3 2024 revenue growth[5] - Bruker's YTD Q3 2024 Non-GAAP EPS decreased by -12.2% to $1.65[5] FY 2024 Outlook - Bruker expects FY 2024 revenue between $3.34 to $3.37 billion, representing a reported growth of +12.5% to +13.5%[25] - The company anticipates an organic growth of +3% to +4% for FY 2024[25] - Bruker projects a Non-GAAP EPS between $2.36 to $2.41 for FY 2024, a decline of -6.5% to -8.5%[25]

Financial Data and Key Metrics Changes - Q3 2024 reported revenues increased 16.4% year-over-year to $864.4 million, with organic revenue growth of 3.1% and a currency tailwind of 0.7% [16][35] - Non-GAAP operating margin was 14.9%, down 510 basis points year-over-year, primarily due to recent strategic acquisitions [17][35] - GAAP diluted EPS was $0.27, compared to $0.60 in Q3 2023, while non-GAAP diluted EPS was $0.60, down 18.9% from $0.74 in Q3 2023 [18][35] Business Line Data and Key Metrics Changes - Bruker BioSpin Group revenue was $633 million, growing in the high-teens percentage, with strong contributions from automation and services [22] - Bruker CALID Group revenue was $773 million, with low-double-digit CER revenue growth, driven by microbiology and infectious disease diagnostics [23] - Bruker NANO revenue was $780 million, with mid-teens percentage CER revenue growth, supported by semiconductor metrology [24] - BEST segment CER revenues grew in the low-single digits, driven by research instruments and technology for semiconductor lithography [25] Market Data and Key Metrics Changes - Americas revenue grew in the low-single digits, while Asia-Pacific revenue (excluding China) was up double-digit percentage [40] - China revenue declined low double-digits, and European revenue declined low single-digit percentage year-over-year [40] - EMEA region revenue was up mid-teens percentage year-over-year [40] Company Strategy and Development Direction - The company is focused on integrating and improving recently acquired businesses to drive above-market organic revenue growth and significant margin expansion in 2025 and beyond [15][33] - Strategic expansion into single-cell spatial molecular diagnostics and lab automation is expected to contribute to profitable growth [33] Management's Comments on Operating Environment and Future Outlook - Management noted that delayed recoveries in biopharma and China demand will not significantly benefit fiscal year 2024, leading to a lowered guidance [14][45] - The company anticipates low-single-digit organic revenue growth in Q4 2024, following a strong Q4 2023 [49] - Management expressed optimism about stimulus orders from China and improvements in biopharma demand in 2025 [63][64] Other Important Information - The company is adjusting its fiscal year 2024 guidance to a revenue range of $3.34 billion to $3.37 billion, with organic revenue growth of 3% to 4% [46] - Non-GAAP EPS guidance for fiscal year 2024 is now in the range of $2.36 to $2.41, down from a prior range of $2.59 to $2.64 [48] Q&A Session Summary Question: Impact of biopharma and China on guidance cut - Management indicated that the guidance cut is primarily due to a significant decline in China orders, which are down approximately 20% year-over-year, and slower recovery in biopharma [55][56] Question: Outlook for 2025 - Management acknowledged that estimates for 2025 would likely be lowered due to the current weakness in biopharma and China, with no specific guidance provided yet [58][64] Question: Confidence in above-market growth - Management expressed confidence in above-market growth driven by strong demand in diagnostics and semiconductor metrology, despite current challenges [61][66] Question: Book-to-bill ratio and order dynamics - The book-to-bill ratio for Q3 was below 1, but organic bookings growth in BSI was the best in several quarters, indicating positive momentum despite challenges in China and biopharma [88][89] Question: Margin dilution from acquisitions - Management confirmed that acquisition integration is on track, with expectations for significant margin improvement in the coming years [72][74]

Exhibit 99.1 Bruker Reports Third Quarter 2024 Financial Results • Q3 2024 revenues of $864.4 million, up 16.4% year-over-year (yoy); Bruker organic revenue up 3.1% yoy, and CER revenue up 15.7% yoy; BSI segment organic revenue up 3.8% yoy • Q3 2024 GAAP diluted EPS $0.27; non-GAAP diluted EPS $0.60 • Updated FY2024 guidance: o Revenue $3.34 to $3.37 billion, implying Bruker organic revenue growth of 3% to 4%, and CER revenue growth of approximately 13% yoy o Non-GAAP EPS of $2.36 - $2.41 BILLERICA, Massach ...

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Bruker Corporation (BRKR) recently announced the release of its latest innovative neuroscience research solution, the OptoVolt module, at the Neuroscience 2024 conference. The module uniquely addresses the challenges of voltage imaging by providing scanner technology. The latest release expands Bruker's Ultima multiphoton microscope platform with advanced neuroscience research capabilities. BRKR's Likely Stock Trend Following the News Subsequent to the news, the share price of BRKR moved south 1.6% to $65.9 ...

Bruker Corporation's (BRKR) growth is backed by strong sales within its X-Ray and Nano Analytics businesses. Within the PCI division, expanding customer demand for pre-clinical MRI systems is highly encouraging. Meanwhile, the impact of macroeconomic pressure and currency fluctuation is likely to hurt the company's operational results. In the past year, this Zacks Rank #3 (Hold) company's shares have gained 10.4% compared with the industry's 27.5% growth and the S&P 500 composite's 34.9% gain. This renowned ...

Dublin, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The "Dermatology Diagnostic Devices Market (2024 Edition): Analysis by Type (Imaging Devices, Microscopes, Immunoassays, Molecular Diagnostics, Others), Application, End-user and Region: Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering. This report provides a complete analysis of the Global Dermatology Diagnostic Devices industry for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 202 ...

It has been about a month since the last earnings report for Bruker (BRKR) . Shares have added about 6.8% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Bruker due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Bruker Q2 Earnings Meet Estimates, Revenues Rise Y/Y B ...

Bruker Corporation's (BRKR) BioSpin Group has been witnessing impressive growth in its end markets and the strategic buyout of Chemspeed is poised to expand its potential. Within BSI Nano, AI is driving significant growth in the semiconductor and metrology tools. The latest innovations and acquisitions in the CALID business uphold its robust growth prospects. Meanwhile, the impact of macroeconomic pressure and competitive challenges may hurt the company's operational results. In the past year, this Zacks Ra ...