Bruker (BRKR) investor relations material

Executive summary

• Q3 revenue rose 1.6% YoY to $874.0M, with 0.7% organic growth; non-GAAP operating margin expanded 400 bps to 16.3% and diluted EPS increased 24.4% to $0.56.

• BSI book-to-bill exceeded 1 for a fifth consecutive quarter; YTD organic bookings and backlog grew mid-single digits, supporting expectations for FY27 growth acceleration and double-digit EPS growth.

Financial highlights

• Q3 revenue was $874.0M versus $860.5M; organic growth was 0.7%, M&A contributed 1.7%, CER growth was 2.4%, and FX reduced growth by 0.8%.

• Q3 non-GAAP gross margin increased 120 bps to 51.3%; non-GAAP operating income rose 34.7% to $142.6M and operating margin expanded 400 bps to 16.3%.

• Q3 non-GAAP diluted EPS was $0.56 versus $0.45; GAAP diluted loss per share was $0.81 versus $0.41.

• 9M revenue rose 3.1% to $2,535.9M while organic revenue declined 0.3%; non-GAAP operating margin increased to 13.6% from 11.4%, and diluted EPS was $1.36 versus $1.23.

• Q3 GAAP operating loss was $91.0M, including a $174.5M non-cash goodwill impairment; non-GAAP net income was $86.3M.

Outlook and guidance

• FY26 revenue guidance is $3.52B–$3.56B, with reported growth of 2.5%–3.5%, organic growth of 1%–2%, and M&A contribution of ~1.5%; FY26 non-GAAP EPS guidance is $2.10–$2.15, with 250–300 bps of operating-margin expansion.

• FY26 FX is expected to be neutral to revenue, a ~50 bps operating-margin headwind and a ~$0.05 EPS headwind; effective tax rate guidance is 27.5% and capex is ~ $110M.

• Q4 organic revenue is expected to grow in the lower mid-single digits YoY, with meaningful sequential and annual increases in operating margin and EPS.

• FY27 outlook calls for lower mid-single-digit organic growth, >100 bps of operating-margin expansion and double-digit EPS growth; formal guidance was expected in early February.

• Cost-out actions are on track for a $140M annualized run rate, with compounding savings expected to support further margin improvement.