Business
Bruker Reports Second Quarter 2023 Financial Results
Q2 2023 revenues of $681.9 million, up 15.9% year-over-year (yoy); organic revenue up 13.5% yoy Q2 2023 GAAP EPS $0.39; non-GAAP EPS $0.50, up 11.1% yoy
About this update from Bruker Corporation
[{"type":"text","content":"\n\nQ2 2023 revenues of $681.9 million, up 15.9% year-over-year (yoy); organic revenue up 13.5% yoy\n\n\n\nQ2 2023 GAAP EPS $0.39; non-GAAP EPS $0.50, up 11.1% yoy\n\n\n\nBruker increases FY 2023 revenue guidance to $2.85-$2.90 billion; implies revenue growth of 12.5%-14.5%, and organic revenue growth at 9.5%-11.5%\n\n\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nBruker Corporation (Nasdaq: BRKR) today announced financial results for its second quarter and for the six months ended June 30, 2023.\n\n\nSecond Quarter 2023 Financial Results\n\n\nBruker’s revenues for the second quarter of 2023 were $681.9 million, an increase of 15.9% compared to $588.4 million in the second quarter of 2022. In the second quarter of 2023, revenues increased 13.5% organically year-over-year. Growth from acquisitions was 1.9%, while foreign currency translation had a positive effect of 0.5%.\n\n\nSecond quarter 2023 Bruker Scientific Instruments (BSI) revenues of $614.3 million increased 15.4% year-over-year, with organic revenue growth of 13.0%. Second quarter 2023 Bruker Energy & Supercon Technologies (BEST) revenues of $72.7 million increased 22.8% year-over-year, with organic revenue growth, net of intercompany eliminations, of 18.4%.\n\n\nSecond quarter 2023 GAAP operating income was $86.2 million, an increase of 16.6% compared to $73.9 million in the second quarter of 2022, representing GAAP operating margins of 12.6%, in both periods. Non-GAAP operating income was $104.1 million in the second quarter of 2023, an increase of 6.6% compared to $97.7 million in the second quarter of 2022. Bruker’s second quarter 2023 non-GAAP operating margin was 15.3%, down 130 basis points from 16.6% in the second quarter of 2022.\n\n\nSecond quarter 2023 GAAP diluted earnings per share (EPS) were $0.39, compared to $0.33 in the second quarter of 2022. Second quarter 2023 non-GAAP diluted EPS were $0.50, an increase of 11.1% compared to $0.45 in the second quarter of 2022.\n\n\nFirst Half of 2023 Financial Results\n\n\nFor the first half of 2023, Bruker’s revenues were $1.367 billion, an increase of 15.5% from $1.183 billion in the first half of 2022. In the first half of 2023, revenues increased 15.6% organically year-over-year. Growth from acquisitions was 2.0%, while foreign currency translation had a negative effect of 2.1%.\n\n\nIn the first half of 2023, BSI r...