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.
Portfolio Pulse from Benzinga Newsdesk
Bruker Corporation has updated its FY 2024 financial outlook, raising both revenue and adjusted EPS forecasts. The new revenue range is $3.29B-$3.35B, up from the previous $3.23B-$3.29B, with adjusted EPS now expected to be $2.79-$2.84, up from $2.71-$2.76. This update includes the benefits from the acquisitions of Chemspeed and ELITech but excludes the pending, EPS-dilutive NanoString acquisition. The revised guidance reflects an 11%-13% year-over-year revenue growth, driven by organic growth, constant exchange rate revenue growth, and despite a foreign currency translation headwind.
May 02, 2024 | 11:20 am
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Bruker Corporation has raised its FY 2024 revenue and EPS forecasts, indicating stronger financial performance than previously anticipated, largely due to the benefits from recent acquisitions.
The updated financial outlook for Bruker Corporation suggests a positive trajectory for the company's financial performance in FY 2024. The increase in both revenue and EPS forecasts is a strong indicator of growth, primarily driven by the successful acquisitions of Chemspeed and ELITech. Although the pending NanoString acquisition is expected to be EPS-dilutive, it is not included in the updated guidance, indicating that the current positive adjustment is based on completed deals and current operations. This news is likely to be well-received by investors, potentially leading to a short-term increase in BRKR's stock price.
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