NASDAQ$BRKR

Bruker Corp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Bruker reported Q4 2022 financial results, with revenue increasing by 3.6% year-over-year and organic revenue growth of 8.9%.

Bruker's Q4 2022 results showed revenue growth, driven by strong organic performance. The company reported an increase in both GAAP and non-GAAP EPS, with non-GAAP EPS growing significantly. The company is guiding for continued revenue and EPS growth in FY 2023.

  • Q4 2022 revenues reached $708.4 million, a 3.6% increase year-over-year, with organic revenue growth of 8.9%.
  • GAAP EPS for Q4 2022 was $0.66, while non-GAAP EPS was $0.74, up 25.4% year-over-year.
  • Bruker Scientific Instruments (BSI) revenues increased by 3.6% year-over-year, with organic revenue growth of 8.5%.
  • Bruker Energy & Supercon Technologies (BEST) revenues increased by 1.9% year-over-year, with organic revenue growth of 13.6%.

Headline financials

Total Revenue

$708M

Previous: $684M+3.6%
EPS (adj)

$0.74

Previous: $0.59+25.4%
Organic Revenue Growth

8.9%

Previous: 11.4%-21.9%
Non-GAAP Operating Margin

21.0%

Previous: 21.0%+0.0%
Capital Expenditures

$34.6M

Previous: $28.4M+21.8%
Free Cash Flow

$137M

Previous: $110M+24.2%
Net Income

$97.4M

Previous: $75.7M+28.7%
Operating Income

$131M

Previous: $125M+4.5%
Gross Profit

$366M

Previous: $342M+7.1%
Cash & Equivalents

$646M

Previous: $1.07B-39.6%
Total Assets

$3.62B

Previous: $3.65B-0.9%
Stock-Based Comp

$4.7M

Previous: $5.3M-11.3%

Revenue & EPS history

Bruker · Revenue · Quarterly

$708M

Q4 2022+3.6%vs Q4 2021
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Bruker · $58.9M total across 1 segment · Q4 2022

  • BEST
    $58.9M+1.9%

Forward guidance

Bruker expects FY 2023 revenue of $2.81 to $2.86 billion, representing 11% to 13% year-over-year reported revenue growth, including organic revenue growth of 8% to 10%. They anticipate FY 2023 non-GAAP EPS of $2.52 to $2.57, or 8% to 10% year-over-year non-GAAP EPS growth.

Tailwinds

  • Organic revenue growth of 8% to 10%.
  • M&A contributions of approximately 1.5%.
  • Foreign currency translation tailwind of approximately 1.5%.
  • FY 2023 R&D expenses of approximately 10% of revenue.
  • FY 2023 non-GAAP EPS of $2.52 to $2.57, or 8% to 10% year-over-year non-GAAP EPS growth.

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 Q4 2022

Historical avgQ4 2022

+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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