Bruker Clocks 34% Jump in Q2 Revenues Driven By Strong Performance Of Scientific Instruments

Bruker Corporation BRKR Bruker reported that its second-quarter revenues were up 34% Y/Y to $570.8 million, beating the consensus Wall Street estimate of $538.3 million.
Organic revenue growth was 27%, with foreign exchange rates raising revenues by 7% and acquisitions boosting growth by less than 1%.
Bruker's CALID group, which houses its life science mass spectrometry business, posted revenues of $193.3 million, up 46%.
The company's BioSpin group had revenues of $148.5 million, up 19%. Nano group revenues were $175.3 million, up 40%, and BEST revenues were $56.6 million, up 26%.
Bruker reported an adjusted EPS of $0.44, beating the average Wall Street estimate of $0.38, and almost doubled from $0.21 a year ago.
Adjusted gross margin expanded from 45.1% to 50%, and operating margin was up from 11.5% to 17.3%.
Bruker ended the quarter with $608.1 million in cash and cash equivalents and $97.9 million in short-term investments.
FY21 Guidance: Bruker projects revenue growth of 17%-19% and organic revenue growth of 14%-16%, up from its previous projection of 14%-16% and 11%-13%.
It expects adjusted EPS of $1.88-$1.93 (consensus of $1.89), up from its previous guidance of $1.82-$1.87.
Price Action: BRKR shares closed at $82.5 on Monday.

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