The 10-second takeaway
For the quarter ended March 31 (Q1), Bruker missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share contracted significantly. GAAP earnings per share dropped significantly.
Margins contracted across the board.
Bruker logged revenue of $393.4 million. The 12 analysts polled by S&P Capital IQ anticipated a top line of $416.8 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.08. The 12 earnings estimates compiled by S&P Capital IQ forecast $0.14 per share. Non-GAAP EPS of $0.08 for Q1 were 27% lower than the prior-year quarter's $0.11 per share. GAAP EPS of $0.03 for Q1 were 67% lower than the prior-year quarter's $0.09 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 44.4%, 250 basis points worse than the prior-year quarter. Operating margin was 3.1%, 560 basis points worse than the prior-year quarter. Net margin was 1.4%, 230 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $428.6 million. On the bottom line, the average EPS estimate is $0.16.
Next year's average estimate for revenue is $1.82 billion. The average EPS estimate is $0.81.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 251 members out of 267 rating the stock outperform, and 16 members rating it underperform. Among 46 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 44 give Bruker a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bruker is outperform, with an average price target of $20.50.
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