Overview

• US scientific instruments maker's Q1 revenue rose 2.7% yr/yr, beating analyst expectations

• Adjusted EPS for Q1 was $0.31, beating analyst expectations

• Company reconfirmed FY26 revenue and adjusted EPS guidance, expects organic growth to return in Q2

Outlook

• Bruker sees FY2026 revenues of $3.57 to $3.60 bln, up 4% to 5% yoy

• Company expects FY2026 non-GAAP EPS of $2.10 to $2.15, up 15% to 17% yoy

• Bruker expects a return to organic revenue growth in Q2

Result Drivers

• US ACADEMIC DEMAND WEAKNESS - Co said US academic demand continued to pressure Q1 results

• TARIFF AND CURRENCY HEADWINDS - Tariff and currency impacts weighed on Q1 performance, per CEO Frank H. Laukien

• STRONG BOOKINGS OUTSIDE US & AI DEMAND - Co saw solid academic orders for post-genomic research solutions outside the US and strong AI-driven demand in semiconductor metrology and laboratory software

Company press release: ID:nBw6rCtRfa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$823.40 mln	$796.35 mln (13 Analysts)
Q1 Adjusted EPS	Beat	$0.31	$0.23 (14 Analysts)
Q1 Consolidated Net Income		$15.70 mln
Q1 Gross Profit		$379.80 mln
Q1 Operating Expenses		$369.60 mln
Q1 Operating Income		$10.20 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

• Wall Street's median 12-month price target for Bruker Corp is $45.00, about 18.4% above its May 5 closing price of $38.01

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 21 three months ago

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