Business
Bruker Reports Second Quarter 2024 Financial Results
Q2 2024 revenues of $800.7 million, up 17.4% year-over-year (yoy); organic revenue up 7.4% yoy; CER revenue up 18.5% yoy Q2 2024 GAAP EPS $0.05; non-GAAP EPS
About this update from Bruker Corporation
[{"type":"text","content":"\n\nQ2 2024 revenues of $800.7 million, up 17.4% year-over-year (yoy); organic revenue up 7.4% yoy; CER revenue up 18.5% yoy\n\n\n\nQ2 2024 GAAP EPS $0.05; non-GAAP EPS $0.52, up 4.0% yoy\n\n\n\nBruker increases FY 2024 revenue guidance to $3.38-$3.44 billion, now including the NanoString business; implies revenue growth of 14% to 16%, and organic revenue growth of 5% to 7% yoy\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, 2024.\n\n\nFrank H. Laukien, Bruker’s President and CEO, commented: “Our teams delivered excellent revenue growth in the second quarter and a solid first half of 2024, despite soft general market conditions. Our well above-market organic growth is driven by Bruker’s differentiated innovation engine, as well as our multi-year transformation towards fundamentally favorable secular trends for our unique enabling tools for the post-genomic era.”\n\n\nHe continued: “In the first half of 2024, we completed three strategic acquisitions that further accelerate our portfolio transformation and market expansion into spatial biology, molecular diagnostics, and laboratory automation. With expected FY 2024 revenue growth again near 15%, Bruker has been undergoing transformative growth with cumulative four-year revenue growth of approximately 70%. We are now deploying the proven Bruker Management Process for driving operational excellence and profitable growth in our acquisitions, and we are confident in our expected steady margin expansion and rapid EPS growth in the next three years, and beyond.”\n\n\nSecond Quarter 2024 Financial Results\n\n\nBruker’s revenues for the second quarter of 2024 were $800.7 million, an increase of 17.4% compared to $681.9 million in the second quarter of 2023. In the second quarter of 2024, revenues increased 7.4% organically year-over-year and constant-exchange rate (CER) revenue growth was 18.5%. Revenue growth from acquisitions was 11.1%, while foreign currency translation had an unfavorable impact of 1.1%.\n\n\nSecond quarter 2024 Bruker Scientific Instruments (BSI) revenues of $735.6 million increased 19.7% year-over-year, with organic revenue growth of 8.6%. Second quarter 2024 Bruker Energy & Supercon Technologies (BEST) revenues of $69.1 million decreased 5.0...