Bruker Analysts Cut Their Forecasts After Q3 Results

Bruker Corporation (NASDAQ:BRKR) posted better-than-expected third-quarter results, but lowered its FY24 guidance on Tuesday.

Bruker posted adjusted earnings of 60 cents per share, beating market estimates of 59 cents per share. The company posted sales of $864.400 million versus expectations of $859.384 million.

Frank H. Laukien, Bruker’s President and CEO, commented, “Despite biopharma and China recovery delays, orders for our differentiated post-genomic, multiomics, cleantech, semicon and diagnostics solutions are gradually improving, with upper mid-single digit BSI organic bookings growth in Q3 year-over-year. However, nascent biopharma and China recoveries will not benefit our fiscal year 2024 anymore, and accordingly we are lowering our FY2024 guidance. ...