Bruker Updates 2024 Outlook: Now Sees Revenue Of $3.29B-$3.35B (Prior $3.23B-$3.29B) Vs. $3.282B Est.; Sees Adjusted EPS Of $2.79 To $2.84 (Prior $2.71-$2.76) Vs. $2.71 Est.

Author: Benzinga Newsdesk | May 02, 2024 07:20am

Fiscal Year 2024 Financial Outlook

Bruker's FY 2024 updated guidance now includes the expected benefits of the Chemspeed acquisition closed in Q1 2024, and of the ELITech acquisition, which closed on April 30, 2024. Our updated FY 2024 guidance does not include the pending, EPS-dilutive NanoString acquisition, announced by Bruker on April 22, 2024, and expected to close in Q2-24.

Bruker now expects FY 2024 revenues of $3.29 to $3.35 billion, up $60 million from our prior guidance of $3.23 to $3.29 billion. Bruker's updated FY 2024 revenue guidance implies 11% to 13% year-over-year reported revenue growth, up from our prior guidance of 9% to 11%, and including yoy contributions from:

• Organic revenue growth of 5% to 7%, no change from prior guidance
• Constant exchange rate (CER) revenue growth of 12% to 14%, up 400 bps vs. prior guidance, and reflecting all closed acquisitions, including Chemspeed and ELITech
• Foreign currency translation headwind of -1%, vs. prior expectation of a +1% tailwind.

Bruker now expects FY 2024 non-GAAP EPS of $2.79 to $2.84, up 8 cents from our prior guidance of $2.71 to $2.76, and excluding the estimated impact of the pending dilutive NanoString acquisition.

Bruker's updated FY 2024 revenue and non-GAAP EPS guidance is based on foreign currency exchange rates as of March 31, 2024.

Posted In: BRKR