Bruker Restores Organic Growth, Trims Revenue Outlook
Adjusted earnings rose 53% to $0.49 a share as profitability improved.
Bruker Corporation (BRKR), a scientific-instruments maker, returned to organic growth in the second quarter after three consecutive quarters of contraction.
Organic revenue rose 2.8%, or 3.4% excluding tariff refunds, reversing a 4.4% decline in the first quarter. BSI organic bookings growth accelerated to 10% from a high-single-digit rate in the prior period, while book-to-bill remained above 1.0.
Revenue rose 5.2% from a year earlier to $838.5 million, accelerating from 2.7% reported growth in the first quarter. Non-GAAP earnings increased from $0.32 a share a year earlier and $0.31 in the preceding quarter.
The BSI segment drove the return to growth, with organic revenue rising 2.3% after falling 5.0% in the first quarter. Within the segment, CALID revenue increased 8.6% to $310.3 million and Nano revenue rose 3.6%, while BioSpin was nearly flat. BEST organic growth accelerated to 8.9% from 3.0% in the prior quarter.
Growth was concentrated in Europe and the U.S., where revenue increased 13.3% and 11.4%, respectively. Asia-Pacific revenue fell 10.2% to $217.3 million.
Non-GAAP operating margin widened to 14.1% from 9.0% a year earlier, supported by a higher gross margin, and adjusted operating income rose 64.6% to $118.5 million. A $134.9 million noncash goodwill impairment produced a GAAP operating loss of $65.3 million and a loss of $0.41 a share.
Bruker now expects 2026 revenue of $3.54 billion to $3.57 billion, down from its previous range of $3.57 billion to $3.60 billion, as a smaller currency benefit reduces projected reported growth to 3% to 4%. The company maintained organic growth guidance of 1% to 2% and non-GAAP earnings guidance of $2.10 to $2.15 a share.
Free-cash-flow outflow narrowed to $106.2 million from $148.8 million a year earlier as operating-cash usage improved, giving Bruker a smaller cash deficit as it pursued its full-year earnings target.