Bruker reports Q1 EPS 53c, consensus 46c

Reports Q1 revenues of $721.7M,consensus 729.88M ; organic revenue up 1.6% yoy, and constant-exchange rate revenue up 5.5% yoy…Bruker’s President and CEO Frank H. Laukien commented: “Bruker’s first quarter 2024 was well executed by our teams with continued organic revenue growth, even when compared to a very strong prior year first quarter. Demand for our innovative and differentiated products and solutions has remained solid, and we are maintaining our 5% to 7% organic revenue growth guidance for FY 2024. We are raising our CER revenue growth guidance for the year by 400 bps to 12% to 14%, now including the closed Chemspeed and ELITech acquisitions.” Dr. Laukien continued: “We are pleased to announce in a simultaneous press release today that we have just closed the acquisition of the ELITech sample-to-answer molecular diagnostics business, focused on infectious disease, transplant and esoteric testing. ELITech adds specialty molecular diagnostics experience, leadership talent and additional customer access to Bruker’s diagnostics business. Going forward, we expect ELITech to be accretive to our consumables revenue percentage and organic revenue CAGR, as well as to our non-GAAP operating margins and EPS.”