The 10-second takeaway
For the quarter ended June 30 (Q2), Bruker beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share grew significantly. GAAP earnings per share increased significantly.
Gross margins dropped, operating margins grew, net margins increased.
Bruker logged revenue of $454.9 million. The 13 analysts polled by S&P Capital IQ wanted to see revenue of $426.4 million on the same basis. GAAP reported sales were 8.1% higher than the prior-year quarter's $420.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.18. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.14 per share. Non-GAAP EPS of $0.18 for Q2 were 50% higher than the prior-year quarter's $0.12 per share. GAAP EPS of $0.14 for Q2 were 133% higher than the prior-year quarter's $0.06 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 44.3%, 40 basis points worse than the prior-year quarter. Operating margin was 9.6%, 400 basis points better than the prior-year quarter. Net margin was 5.0%, 260 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $454.8 million. On the bottom line, the average EPS estimate is $0.24.
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 249 members out of 265 rating the stock outperform, and 16 members rating it underperform. Among 55 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Bruker a green thumbs-up, and three 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 $19.50.
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