Bruker reports Q3 EPS 74c, consensus 63c

Reports Q3 revenue $742.80M, consensus $714.41M… Frank H. Laukien, Bruker’s President and CEO, commented: “Bruker continues to deliver excellent growth, with three consecutive quarters of double-digit organic revenue growth year-to-date in 2023. We anticipate high-single digit organic revenue growth in the fourth quarter of 2023, which puts us on track for three consecutive years of double-digit organic revenue growth in 2021-2023. This year, Bruker has demonstrated great resiliency in difficult market conditions, with industry-leading organic revenue growth of 13.9%, and non-GAAP EPS growth of 17.5% in the first nine months of 2023. Given our strong year-to-date financial results, solid backlog, and positive outlook for the fourth quarter, we are raising our organic revenue growth guidance for FY 2023 again, by 150 bps at the midpoint.” Dr. Laukien continued: “We are very pleased with the early October acquisition of our new Cellular Analysis business, formerly known as PhenomeX. Our Cellular Analysis business is a leader in single-cell biology solutions, for advanced antibody and stable cell line development in support of biologics and cell & gene therapy in the biopharmaceutical industry, as well as for clinical oncology research in major cancer centers.”