NASDAQ$BRKR

Bruker Corp · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Bruker's Q1 2020 financial performance was impacted by COVID-19, resulting in revenue decline.

Bruker reported a revenue decline of 8.1% year-over-year, with an organic revenue decline of 7.9%. GAAP EPS decreased to $0.07 from $0.20 in Q1 2019, and non-GAAP EPS decreased to $0.14 from $0.28 in Q1 2019. The company expects COVID-19 disruptions to negatively affect Q2 2020 financial results.

  • Q1 2020 revenue declined by 8.1% year-over-year.
  • Organic revenue declined by 7.9%.
  • GAAP EPS was $0.07, compared to $0.20 in Q1 2019.
  • Non-GAAP EPS was $0.14, compared to $0.28 in Q1 2019.

Headline financials

Total Revenue

$424M

Previous: $461M-8.1%
EPS (adj)

$0.14

Previous: $0.28-50.0%
Organic Revenue Growth

-7.9%

No prior period
Non-GAAP Operating Margin

7.6%

Previous: 13.5%-43.7%
GAAP Operating Margin

3.9%

Previous: 9.1%-57.1%
Capital Expenditures

-$30.5M

Previous: -$10.6M-187.7%
Free Cash Flow

-$20M

Previous: $20.2M-199.0%
Net Income

$10.5M

Previous: $30.8M-65.9%
Operating Income

$16.4M

Previous: $41.9M-60.9%
Gross Profit

$192M

Previous: $215M-10.4%
Cash & Equivalents

$796M

Previous: $299M+166.2%
Total Assets

$2.96B

Previous: $2.24B+32.1%
Stock-Based Comp

$3.3M

Previous: $3.1M+6.5%

Revenue & EPS history

Bruker · Revenue · Quarterly

$424M

Q1 2020-8.1%vs Q1 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Bruker · $70.6M total across 1 segment · Q3 2023

  • BEST
    $70.6M+19.1%

Forward guidance

Bruker anticipates that the pandemic will have a more significant negative impact on the Company’s second quarter 2020 financial results. Fiscal Year 2020 (FY 2020) Guidance Remains Suspended

Tailwinds

  • Bruker is a healthy, essential company.
  • Life science tools and diagnostics markets are quite resilient.
  • Long-term funding trends in life science, biopharma and basic medical research, as well as in infectious disease diagnostics, are going to be strong as a result of the COVID-19 pandemic.
  • Bruker is well positioned for a gradually improving business environment in the second half of 2020.
  • Bruker continues to have a strong balance sheet and a very solid liquidity position.

Headwinds

  • COVID-19 disruption expected to negatively affect Q2 2020 financial results.
  • First quarter 2020 results reflect the initial impact of the COVID-19 pandemic.
  • Expect a more pronounced year-over-year revenue decline in the second quarter.
  • Fiscal Year 2020 (FY 2020) Guidance Remains Suspended
  • Uncertain business conditions created by COVID-19.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.8%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+3.3%

Avg return

30 days after

54%

35 / 65 earnings

Positive

+14.1%

Q1 2019

Best reaction

-13.1%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+11.2%+13.8%+48.3%
Q4 2025-11.6%-10.2%-20.5%
Q3 2025+6.4%+2.5%+22.9%
Q1 2025+3.4%+2.1%-2.9%
Q4 2024-1.0%-1.7%-11.0%
Q3 2024-0.6%-2.7%-1.5%
Q2 2024-5.1%-2.4%+2.8%
Q1 2024-11.4%-5.9%-17.1%
Q4 2023+13.4%+15.9%+30.1%
Q3 2023+3.2%+2.2%+15.9%
Q2 2023-6.7%-7.6%-7.1%
Q1 2023-2.1%-4.9%-11.0%
Q4 2022+5.2%+7.3%+1.0%
Q3 2022+9.5%+8.7%+9.6%
Q2 2022-7.4%-9.3%-18.2%
Q1 2022+1.2%-4.0%+5.3%
Q4 2021-7.7%-3.9%-12.1%
Q3 2021+1.7%+1.7%+0.9%
Q2 2021-1.8%+0.4%+8.7%
Q1 2021-0.5%-0.0%+1.4%
Q4 2020+1.1%+3.5%-1.1%
Q3 2020+3.4%+9.2%+21.6%
Q2 2020+0.2%-1.1%-4.1%
Q1 2020+6.2%+4.3%+16.9%
Q4 2019-4.0%-21.4%-8.1%
Q3 2019+12.4%+6.8%+14.9%
Q2 2019-13.1%-12.7%-9.8%
Q1 2019+14.1%+11.3%+9.6%
Q4 2018+6.3%+7.4%+8.5%
Q3 2018+6.6%+6.9%+5.8%
Q2 2018+7.4%+7.0%+9.1%
Q1 2018+2.0%+2.9%+3.4%
Q4 2017-7.8%-5.9%-6.8%
Q3 2017+4.5%+2.8%+9.2%
Q2 2017-1.2%-3.1%+3.2%
Q1 2017+3.8%+4.7%+12.1%
Q4 2016-1.8%-1.2%-3.1%
Q3 2016+3.6%+8.9%+10.1%
Q2 2016-12.2%-10.6%-9.6%
Q1 2016-3.1%
Q4 2015+9.5%
Q3 2015+7.8%
Q2 2015-5.4%
Q1 2015+10.6%
Q4 2014-2.1%
Q3 2014-12.5%
Q2 2014-9.4%
Q1 2014-0.8%
Q4 2013+2.0%
Q3 2013-7.1%
Q2 2013+11.1%
Q1 2013-4.3%
Q4 2012+8.3%
Q3 2012+4.1%
Q2 2012-1.6%
Q1 2012+7.4%
Q4 2011-0.9%
Q4 2009-0.9%
Q3 2010-4.0%
Q3 2011-4.0%
Q2 2010+4.0%
Q2 2011+4.0%
Q1 2010+1.9%
Q4 2010+1.9%
Q1 2011+1.9%

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