Business
Bruker Reports First Quarter 2023 Financial Results
Q1 2023 revenues of $685.3 million, up 15.2% year-over-year (yoy); organic revenue up 17.6% yoy Q1 2023 GAAP EPS $0.52; non-GAAP EPS $0.64, up 30.6% yoy
About this update from Bruker Corporation
[{"type":"text","content":"\n\nQ1 2023 revenues of $685.3 million, up 15.2% year-over-year (yoy); organic revenue up 17.6% yoy\n\n\n\nQ1 2023 GAAP EPS $0.52; non-GAAP EPS $0.64, up 30.6% yoy\n\n\n\nBruker increases FY 2023 guidance for revenue to $2.83-$2.88 billion and for non-GAAP EPS to $2.55-$2.60; implies revenue growth to 12%-14%, and organic revenue growth of 9% - 11% yoy\n\n\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nBruker Corporation (Nasdaq: BRKR) today announced financial results for its first quarter ended March 31, 2023.\n\n\nFirst Quarter 2023 Financial Results\n\n\nBruker’s revenues for the first quarter of 2023 were $685.3 million, an increase of 15.2% compared to $595.0 million in the first quarter of 2022. In the first quarter of 2023, revenues increased 17.6% organically year-over-year. Growth from acquisitions was 2.1%, while foreign currency translation had a negative effect of 4.5%.\n\n\nFirst quarter 2023 Bruker Scientific Instruments (BSI) revenues of $626.6 million increased 16.1% year-over-year, with organic revenue growth of 18.4%. First quarter 2023 Bruker Energy & Supercon Technologies (BEST) revenues of $62.2 million increased 4.2% year-over-year, with organic revenue growth, net of intercompany eliminations, of 9.7%.\n\n\nFirst quarter 2023 GAAP operating income was $122.7 million, an increase of 27.2% compared to $96.5 million in the first quarter of 2022, representing GAAP operating margins of 17.9% and 16.2%, respectively. Non-GAAP operating income was $139.4 million in the first quarter of 2023, an increase of 20.4% compared to $115.8 million in the first quarter of 2022. Bruker’s first quarter 2023 non-GAAP operating margin was 20.3%, up approximately 80 basis points from 19.5% in the first quarter of 2022.\n\n\nFirst quarter 2023 GAAP diluted earnings per share (EPS) were $0.52, compared to $0.41 in the first quarter of 2022. First quarter 2023 non-GAAP diluted EPS were $0.64, an increase of 30.6% compared to $0.49 in the first quarter of 2022.\n\n\nA reconciliation of non-GAAP to GAAP financial measures is provided in the tables accompanying this press release.\n\n\nFrank H. Laukien, Bruker’s President and CEO, commented: “Bruker had an excellent start to the year, with first quarter 2023 organic revenue growth of 17.6% year-over-year, and similarly strong organic order growth. Despite our significant investments in ke...