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Scientific instrument company Bruker (NASDAQ: BRKR).
will be reporting earnings tomorrow morning. Here’s what investors should know.
Bruker beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $979.6 million, up 14.6% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ organic revenue estimates but full-year revenue guidance missing analysts’ expectations.
This quarter, analysts are expecting Bruker’s revenue to grow 6.5% year on year to $768.5 million, improving from the 5.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.44 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bruker has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Bruker’s peers in the research tools & consumables segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Mettler-Toledo’s revenues decreased 4.6% year on year, beating analysts’ expectations by 1%, and Danaher reported flat revenue, topping estimates by 2.7%. Mettler-Toledo traded up 4.3% following the results while Danaher was also up 6.2%.
There has been positive sentiment among investors in the research tools & consumables segment, with share prices up 4.4% on average over the last month. Bruker is up 4.3% during the same time and is heading into earnings with an average analyst price target of $60.13 (compared to the current share price of $40.35).