Bruker(BRKR) - 2024 Q4 - Annual Results

Revenue Performance - Bruker's Q4 2024 revenues reached $979.6 million, a 14.6% increase from$ 854.5 million in Q4 2023, with organic revenue growth of 3.9% and constant-exchange rate (CER) revenue growth of 15.8%[4] - For FY 2024, Bruker reported revenues of $3.37 billion, up 13.6% from$ 2.96 billion in FY 2023, with organic revenue growth of 4.0% and CER revenue growth of 14.0%[9] - Revenue for Q4 2024 was $979.6 million, a 14.6% increase from$ 854.5 million in Q4 2023[31] - Total revenue for the year 2024 reached $3,366.4 million, up 13.6% from$ 2,964.5 million in 2023[31] - The company achieved a total revenue of $3,366.4 million for the twelve months ended December 31, 2024, up from$ 2,964.5 million in 2023, marking a growth rate of 13.6%[39] Earnings and Profitability - The non-GAAP diluted EPS for Q4 2024 was $0.76, an 8.6% increase compared to$ 0.70 in Q4 2023, while FY 2024 non-GAAP diluted EPS was $2.41, down 6.6% from$ 2.58 in FY 2023[8][12] - Non-GAAP gross profit for Q4 2024 was $514.2 million, up from$ 442.8 million in Q4 2023, representing a growth of 16.2%[34] - Non-GAAP gross profit margin increased to 52.5% in Q4 2024 from 51.8% in Q4 2023[34] - Non-GAAP operating income for the twelve months ended December 31, 2024, was $518.0 million, compared to$ 546.3 million for the same period in 2023, reflecting a decrease of 5.2%[34] - Non-GAAP net income attributable to Bruker Corporation for Q4 2024 was $115.4 million, compared to$ 102.4 million in Q4 2023, an increase of 12.8%[37] - Non-GAAP earnings per share (diluted) for the three months ended December 31, 2024, was $0.76, compared to$ 0.70 in the same period of 2023, reflecting an increase of 8.6%[38] Future Projections - Bruker expects FY 2025 revenues to be between $3.47 billion and$ 3.54 billion, representing a year-over-year growth of 3% to 5%[13] - The company anticipates FY 2025 non-GAAP EPS to range from $2.67 to$ 2.72, indicating an increase of 11% to 13% year-over-year[13] - Bruker projects organic revenue growth of 3% to 4% and M&A revenue growth contribution of 2% to 3% for FY 2025, with a foreign currency translation headwind of approximately 2%[15] Operational Metrics - In Q4 2024, Bruker achieved a non-GAAP operating margin of 18.1%, fully offsetting initial margin headwinds from strategic M&A and foreign exchange impacts[6] - The company reported a GAAP operating income of $72.1 million in Q4 2024, down from$ 103.5 million in Q4 2023, while non-GAAP operating income increased by 14.9% to $177.5 million[7] - Operating income for Q4 2024 was$ 72.1 million, down from $103.5 million in Q4 2023, reflecting an operating income margin of 7.4%[31] Cash Flow and Assets - Non-GAAP free cash flow for Q4 2024 was$ 151.1 million, down from $174.0 million in Q4 2023, a decrease of 13.2%[34] - Total assets increased to$ 5,810.4 million in 2024 from $4,249.9 million in 2023[30] - Long-term debt rose to$ 2,061.8 million in 2024, up from $1,160.3 million in 2023[30] - Cash and cash equivalents decreased to$ 183.4 million in 2024 from $488.3 million in 2023[30] Segment Performance - Bruker BioSpin segment revenue increased to$ 272.4 million for the three months ended December 31, 2024, from $257.9 million in 2023, reflecting a growth of 5.5%[39] - The Bruker CALID segment reported revenue of$ 320.6 million for the three months ended December 31, 2024, compared to $257.2 million in 2023, representing a significant increase of 24.6%[39] Currency Impact - Revenue growth from acquisitions contributed 11.9% in Q4 2024, while foreign currency translation had an unfavorable impact of 1.2%[4] - The company experienced a negative impact of$ 9.9 million from changes in foreign currency translation rates for the three months ended December 31, 2024[40]