Bruker Corporation (BRKR) Bundle
A Brief History of Bruker Corporation
Bruker Corporation, a leader in scientific instruments and high-value analytical solutions, has seen significant growth and transformation throughout its history, particularly in recent years. By 2024, the company has established itself as a key player in the post-genomic era, focusing on molecular and cell biology research, diagnostics, and industrial applications.
Financial Performance in 2024
In the third quarter of 2024, Bruker reported revenues of $864.4 million, reflecting a year-over-year increase of 16.4% compared to $742.8 million in Q3 2023. The company achieved organic revenue growth of 3.1% year-over-year, while constant-exchange rate (CER) revenue growth reached 15.7%.
| Financial Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Revenue | $864.4 million | $742.8 million |
| Organic Revenue Growth | 3.1% | 16.3% |
| GAAP Diluted EPS | $0.27 | $0.60 |
| Non-GAAP Diluted EPS | $0.60 | $0.74 |
For the first nine months of 2024, Bruker generated revenues of $2.39 billion, up 13.1% from $2.11 billion during the same period in 2023. The revenue growth was driven by a combination of organic growth (4.0%) and acquisitions (9.2%).
Segment Performance
Bruker's revenue breakdown by segment for the third quarter of 2024 is as follows:
| Segment | Q3 2024 Revenue | Q3 2023 Revenue |
|---|---|---|
| Bruker BioSpin | $233.0 million | $198.3 million |
| Bruker CALID | $279.4 million | $239.3 million |
| Bruker Nano | $287.1 million | $238.7 million |
| Bruker Energy & Supercon Technologies (BEST) | $68.7 million | $70.6 million |
Profitability Metrics
Bruker's operating income for the third quarter of 2024 was $68.1 million, down from $124.5 million in Q3 2023. The non-GAAP operating income decreased to $129.1 million from $148.3 million year-over-year. The operating income margin also saw a decline to 7.9% from 16.8%.
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| GAAP Operating Income | $68.1 million | $124.5 million |
| Non-GAAP Operating Income | $129.1 million | $148.3 million |
| Operating Income Margin | 7.9% | 16.8% |
Outlook for FY 2024
Bruker Corporation expects revenues for the full fiscal year 2024 to range between $3.34 billion and $3.37 billion, which would represent year-over-year growth of 12.5% to 13.5%. The company anticipates organic revenue growth of 3% to 4% and contributions from mergers and acquisitions of approximately 9.5%.
In terms of earnings, Bruker projects a non-GAAP EPS of $2.36 to $2.41 for FY 2024, compared to $2.58 in FY 2023.
| Fiscal Year 2024 Guidance | Projected Revenue | Projected Non-GAAP EPS |
|---|---|---|
| Revenue Growth | $3.34 to $3.37 billion | $2.36 to $2.41 |
Bruker continues to focus on strategic acquisitions and operational excellence to drive growth and improve profitability, positioning itself for long-term success in the competitive landscape of scientific instrumentation and analytics.
A Who Owns Bruker Corporation (BRKR)
Major Shareholders
As of 2024, the ownership structure of Bruker Corporation (BRKR) is characterized by a mix of institutional and individual investors. The largest shareholders include:
| Shareholder Type | Shareholder Name | Percentage Ownership |
|---|---|---|
| Institutional Investor | Vanguard Group Inc. | 9.12% |
| Institutional Investor | BlackRock Inc. | 8.45% |
| Institutional Investor | State Street Corporation | 5.78% |
| Individual Investor | Frank H. Laukien (CEO) | 10.78% |
| Institutional Investor | Wellington Management Co. LLP | 7.32% |
| Other Institutions | Other Institutional Holders | 58.55% |
Insider Ownership
Insider ownership plays a significant role in Bruker's governance, with key executives holding substantial shares. Notable insider ownership includes:
| Insider Name | Position | Shares Owned |
|---|---|---|
| Frank H. Laukien | President and CEO | 16,400,000 |
| Other Executives | Various | 1,200,000 |
Stock Performance and Shareholder Returns
Bruker Corporation's stock performance has shown resilience in the market. As of November 2024, the company reported:
- Latest stock price: $50.25
- Market capitalization: $7.65 billion
- Year-to-date stock performance: +12.5%
- Annual dividend: $0.40 per share
- Dividend yield: 0.79%
Recent Changes in Ownership
Recent filings indicate changes in share ownership due to trading activity among institutional investors:
| Date | Transaction Type | Shares Traded | Price per Share |
|---|---|---|---|
| October 15, 2024 | Purchase | 500,000 | $48.00 |
| October 20, 2024 | Sale | 300,000 | $49.50 |
Conclusion
The ownership landscape of Bruker Corporation is a blend of institutional and individual stakeholders, with significant insider participation. These dynamics influence the company's strategic direction and overall market performance, providing insights into investor confidence and corporate governance.
Bruker Corporation (BRKR) Mission Statement
Bruker Corporation is dedicated to enabling scientists and engineers to make breakthrough discoveries and develop new applications that improve the quality of human life. The company focuses on high-performance scientific instruments and high-value analytical and diagnostic solutions, facilitating exploration at molecular, cellular, and microscopic levels.
Strategic Objectives
- Promote innovation in post-genomic life science and molecular biology research.
- Enhance productivity and customer success in various applications, including biopharma, microscopy, and semiconductor metrology.
- Drive operational excellence through strategic acquisitions and improvements.
Financial Overview
As of the third quarter of 2024, Bruker Corporation reported significant financial metrics:
| Metric | Q3 2024 | Q3 2023 | Year-to-Date 2024 | Year-to-Date 2023 |
|---|---|---|---|---|
| Revenue | $864.4 million | $742.8 million | $2.39 billion | $2.11 billion |
| GAAP Operating Income | $68.1 million | $124.5 million | $181.0 million | $333.4 million |
| Non-GAAP Operating Income | $129.1 million | $148.3 million | $340.5 million | $391.8 million |
| GAAP Diluted EPS | $0.27 | $0.60 | $0.67 | $1.50 |
| Non-GAAP Diluted EPS | $0.60 | $0.74 | $1.65 | $1.88 |
Revenue Breakdown
Bruker's revenue is derived from various segments, highlighting the diversity of its operations:
| Segment | Q3 2024 Revenue | Q3 2023 Revenue | Year-to-Date 2024 Revenue | Year-to-Date 2023 Revenue |
|---|---|---|---|---|
| Bruker BioSpin | $233.0 million | $198.3 million | $633.3 million | $540.6 million |
| Bruker CALID | $279.4 million | $239.3 million | $772.9 million | $703.2 million |
| Bruker Nano | $287.1 million | $238.7 million | $780.0 million | $673.4 million |
| BEST | $68.7 million | $70.6 million | $210.9 million | $205.5 million |
Market Position
Bruker operates in a competitive landscape, focusing on high-growth sectors such as biopharma and diagnostics. The company is positioned to leverage its advanced technologies to meet increasing demands in the scientific community.
Financial Guidance for FY 2024
Bruker Corporation anticipates the following metrics for the fiscal year 2024:
| Guidance Metric | FY 2024 Estimate |
|---|---|
| Total Revenue | $3.34 to $3.37 billion |
| Organic Revenue Growth | 3% to 4% |
| Contribution from Acquisitions | Approximately 9.5% |
| Non-GAAP EPS | $2.36 to $2.41 |
Bruker remains committed to its mission of enabling innovation and advancing scientific research, while navigating the complexities of the global market.
How Bruker Corporation (BRKR) Works
Business Overview
Bruker Corporation specializes in scientific instruments and analytical solutions. The company operates primarily in the life sciences, materials research, and diagnostics sectors. As of 2024, Bruker's business segments include Bruker Scientific Instruments (BSI) and Bruker Energy & Supercon Technologies (BEST).
Financial Performance
For the third quarter of 2024, Bruker reported revenues of $864.4 million, a 16.4% increase from $742.8 million in the same quarter of 2023. Year-to-date revenues for the first nine months of 2024 reached $2.39 billion, reflecting a 13.1% increase compared to $2.11 billion in 2023. The revenue growth comprised 4.0% organic growth and 9.2% from acquisitions.
| Financial Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Revenue | $864.4 million | $742.8 million | $2.39 billion | $2.11 billion |
| GAAP Operating Income | $68.1 million | $124.5 million | $181.0 million | $333.4 million |
| Non-GAAP Operating Income | $129.1 million | $148.3 million | $340.5 million | $391.8 million |
| GAAP Diluted EPS | $0.27 | $0.60 | $0.67 | $1.50 |
| Non-GAAP Diluted EPS | $0.60 | $0.74 | $1.65 | $1.88 |
Segments and Revenue Breakdown
Bruker’s revenue is categorized into segments: BSI and BEST. For the third quarter of 2024, the revenue from BSI was $799.5 million, up 18.2% year-over-year, while BEST generated $68.7 million, a decrease of 2.7% year-over-year.
| Segment | Q3 2024 Revenue | Q3 2023 Revenue |
|---|---|---|
| Bruker BioSpin | $233.0 million | $198.3 million |
| Bruker CALID | $279.4 million | $239.3 million |
| Bruker Nano | $287.1 million | $238.7 million |
| BEST | $68.7 million | $70.6 million |
Geographic Revenue Distribution
Bruker’s revenue is also segmented by geography. For Q3 2024, the United States accounted for $239.0 million, Europe $290.0 million, and Asia Pacific $262.4 million.
| Region | Q3 2024 Revenue | Q3 2023 Revenue |
|---|---|---|
| United States | $239.0 million | $211.1 million |
| Europe | $290.0 million | $252.0 million |
| Asia Pacific | $262.4 million | $229.3 million |
| Other | $73.0 million | $50.4 million |
Operating Expenses
For Q3 2024, Bruker reported total operating expenses of $350.7 million, compared to $258.3 million in Q3 2023. The increase in expenses is attributed to higher selling, general and administrative (SG&A) costs and research and development (R&D) investments.
| Expense Type | Q3 2024 | Q3 2023 |
|---|---|---|
| SG&A Expenses | $229.9 million | $177.6 million |
| R&D Expenses | $98.1 million | $71.3 million |
| Other Charges | $22.7 million | $9.4 million |
Cash Flow and Financing Activities
Bruker’s net cash provided by operating activities for Q3 2024 was $38.4 million, compared to $44.1 million in Q3 2023. The cash flow from investing activities was negative at $(67.6) million, primarily due to capital expenditures and acquisitions.
| Cash Flow Type | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Cash from Operating Activities | $38.4 million | $44.1 million |
| Net Cash from Investing Activities | $(67.6) million | $(155.0) million |
| Net Cash from Financing Activities | $(2.8) million | $(92.5) million |
Outlook for FY 2024
Bruker expects full-year revenues to be in the range of $3.34 billion to $3.37 billion, reflecting a year-over-year growth rate of 12.5% to 13.5%. The company anticipates organic revenue growth of 3% to 4% and a contribution from acquisitions of approximately 9.5%.
How Bruker Corporation (BRKR) Makes Money
Revenue Streams
Bruker Corporation generates revenue through various segments, primarily focusing on scientific instruments and solutions for life sciences, materials research, and industrial applications. The key segments include:
- Bruker BioSpin
- Bruker CALID
- Bruker Nano
- Bruker Energy & Supercon Technologies (BEST)
Financial Performance Overview
As of Q3 2024, Bruker reported revenues of $864.4 million, reflecting a year-over-year increase of 16.4%. For the first nine months of 2024, revenues totaled $2.39 billion, up 13.1% from $2.11 billion in the same period of 2023.
| Period | Revenue (in millions) | Year-over-Year Growth |
|---|---|---|
| Q3 2024 | $864.4 | 16.4% |
| First Nine Months 2024 | $2,386.8 | 13.1% |
| First Nine Months 2023 | $2,110.0 | - |
Segment Performance
Bruker’s revenue by segment for Q3 2024 is as follows:
| Segment | Revenue (in millions) | Year-over-Year Growth |
|---|---|---|
| Bruker BioSpin | $233.0 | 17.5% |
| Bruker CALID | $279.4 | 16.8% |
| Bruker Nano | $287.1 | 20.3% |
| BEST | $68.7 | -2.7% |
Geographic Revenue Breakdown
Bruker’s revenue distribution by region for Q3 2024 is detailed below:
| Geography | Revenue (in millions) |
|---|---|
| United States | $239.0 |
| Europe | $290.0 |
| Asia Pacific | $262.4 |
| Other | $73.0 |
Operating Income and Margins
For Q3 2024, Bruker reported a GAAP operating income of $68.1 million with a margin of 7.9%. Non-GAAP operating income stood at $129.1 million, yielding a margin of 14.9%.
| Measure | Q3 2024 | Q3 2023 |
|---|---|---|
| GAAP Operating Income (in millions) | $68.1 | $124.5 |
| Non-GAAP Operating Income (in millions) | $129.1 | $148.3 |
| GAAP Operating Margin | 7.9% | 16.8% |
| Non-GAAP Operating Margin | 14.9% | 20.0% |
Future Outlook
For the fiscal year 2024, Bruker projects revenues between $3.34 billion and $3.37 billion, representing a growth of approximately 12.5% to 13.5% year-over-year. The company expects organic revenue growth of 3% to 4% and contributions from mergers and acquisitions of about 9.5%.
Profitability Metrics
Bruker’s net income attributable to the corporation for Q3 2024 was $40.9 million, with diluted earnings per share (EPS) of $0.27. Non-GAAP net income for the same period was $91.0 million, resulting in a non-GAAP diluted EPS of $0.60.
| Measure | Q3 2024 | Q3 2023 |
|---|---|---|
| GAAP Net Income (in millions) | $40.9 | $88.1 |
| Non-GAAP Net Income (in millions) | $91.0 | $108.3 |
| GAAP Diluted EPS | $0.27 | $0.60 |
| Non-GAAP Diluted EPS | $0.60 | $0.74 |
Bruker Corporation continues to leverage its diverse product offerings and geographic reach to drive revenue growth and enhance profitability in the coming years.
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Updated on 16 Nov 2024
Resources:
- Bruker Corporation (BRKR) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Bruker Corporation (BRKR)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Bruker Corporation (BRKR)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.