Skip to main content
Premium Trial:

Request an Annual Quote

Bruker Posts 34 Percent Jump in Q2 Revenues

NEW YORK – Bruker reported after the close of the market on Monday that its second quarter revenues were up 34 percent year over year.

For the three months ended June 30, the Billerica, Massachusetts-based company reported revenues of $570.8 million, up from $424.6 million in Q2 2020 and beating the consensus Wall Street estimate of $538.3 million.

Organic revenue growth was 27 percent, with foreign exchange rates raising revenues by 7 percent and acquisitions boosting growth by less than 1 percent.

On a conference call following the release of its financial results, Bruker CEO Frank Laukien said the company's Q2 2021 revenues "grew significantly year over year, with robust demand for our high-performance scientific instruments, life science [products], and diagnostic solutions amidst a solid end market recovery."

Bruker's CALID group, which houses its life science mass spectrometry business, posted revenues of $193.3 million in the quarter, up 46 percent from $132.7 million the year before.

Laukien said that the company saw strong demand during the quarter for its timsTOF mass spec platforms, which he noted grew at a higher rate than Bruker overall. The company also saw year-over-year growth for its other life science mass spec systems as well as "healthy demand" for its MALDI Biotyper instruments and consumables.

He added that Bruker generated around $6 million in revenue from COVID-19 PCR testing during the quarter, though the company expects that figure to decline sequentially in the second half of 2021.

The company's BioSpin group had revenues of $148.5 million in the quarter, up 19 percent from $125.1 million in Q2 2020. Nano group revenues were $175.3 million, up 40 percent from $125.5 million, and BEST revenues were $56.6 million, up 26 percent from $44.8 million.

Bruker reported a profit of $57.6 million, or $.38 per share, compared to $24.1 million, or $.16 per share, a year ago. On a non-GAAP basis, Bruker had EPS of $.44, beating the average Wall Street estimate of $.38.

The company's R&D costs were $55.8 million in Q2, up 27 percent from $44.1 million in Q2 2020. Its SG&A spending was $134.8 million, up 32 percent from $102.4 million in the year-ago quarter.

Bruker raised its full year 2021 guidance, now projecting revenue growth of 17 percent to 19 percent and organic revenue growth of 14 percent to 16 percent, up from its previous projection of 14 percent to 16 percent and 11 percent to 13 percent. It expects adjusted EPS of $1.88 to $1.93, up from its previous guidance of $1.82 to $1.87.

Bruker ended the quarter with $608.1 million in cash and cash equivalents, and $97.9 million in short-term investments.

In Tuesday morning trading on the Nasdaq, shares of Bruker were down 2 percent to $81.25.

The Scan

Booster for At-Risk

The New York Times reports that the US Food and Drug Administration has authorized a third dose of the Pfizer-BioNTech SARS-CoV-2 vaccine for people over 65 or at increased risk.

Preprints OK to Mention Again

Nature News reports the Australian Research Council has changed its new policy and now allows preprints to be cited in grant applications.

Hundreds of Millions More to Share

The US plans to purchase and donate 500 million additional SARS-CoV-2 vaccine doses, according to the Washington Post.

Nature Papers Examine Molecular Program Differences Influencing Neural Cells, Population History of Polynesia

In Nature this week: changes in molecular program during embryonic development leads to different neural cell types, and more.