NASDAQ$BRKR

Bruker Corp · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Bruker's financial performance grew strongly driven by robust demand and strong recovery.

Bruker Corporation reported a strong second quarter in 2021, with a revenue increase of 34.4% compared to the second quarter of 2020. GAAP EPS was $0.38 and non-GAAP EPS was $0.44. The company is raising its fiscal year 2021 guidance for revenue growth, non-GAAP operating margin expansion and non-GAAP EPS.

  • Q2 2021 revenue growth of 34.4% year-over-year; organic revenue growth of 27.2%.
  • Q2 2021 GAAP EPS of $0.38.
  • Q2 2021 non-GAAP EPS of $0.44, compared to $0.21 in Q2 2020.
  • Strong financial performance in the Bruker Scientific Instruments and BEST businesses drives a further increase in fiscal year 2021 guidance.

Headline financials

Total Revenue

$571M

Previous: $425M+34.4%
EPS (adj)

$0.44

Previous: $0.21+109.5%
Organic Revenue Growth

27.2%

Previous: -12.7%+314.2%
Non-GAAP Operating Margin

17.3%

Previous: 11.5%+50.4%
GAAP Operating Margin

15.0%

Previous: 8.9%+68.5%
Capital Expenditures

-$47.3M

Previous: -$50.8M+6.9%
Free Cash Flow

$10.3M

Previous: -$26.7M+138.6%
Net Income

$57.6M

Previous: $24.1M+139.0%
Operating Income

$85.6M

Previous: $37.9M+125.9%
Gross Profit

$281M

Previous: $186M+50.7%
Cash & Equivalents

$608M

Previous: $747M-18.6%
Total Assets

$3.09B

Previous: $2.94B+4.9%
Stock-Based Comp

$3.9M

Previous: $3.1M+25.8%

Revenue & EPS history

Bruker · Revenue · Quarterly

$571M

Q2 2021+34.4%vs Q2 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Bruker · $56.6M total across 1 segment · Q2 2021

  • BEST
    $56.6M

Forward guidance

Bruker is raising its fiscal year 2021 guidance for revenue growth, non-GAAP operating margin expansion and non-GAAP EPS.

Tailwinds

  • Reported revenue growth of 17% to 19%.
  • Organic revenue growth of 14% to 16%.
  • Foreign currency revenue tailwind of 3%.
  • Non-GAAP operating margin expansion of 270 basis points to 310 basis points over FY 2020 non-GAAP operating margin of 16.0%, including a foreign currency headwind of 30 basis points in FY 2021.
  • Non-GAAP EPS between $1.88 and $1.93, representing a year-over-year increase of 39% to 43%.

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 Q2 2021

Historical avgQ2 2021

+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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