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Bruker Corporation (BRKR) Reports Solid Preliminary Q1 Revenues

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Zacks Equity Research
·4 min read
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Bruker Corporation BRKR recently announced preliminary revenues for first-quarter 2021. The company expects to release detailed financial results for the period on May 5.

As per the preliminary report, first-quarter 2021 revenues are estimated to be in the range of $549-$554 million on a reported basis, up by around 30-31% from the year-ago quarter. The Zacks Consensus Estimate of $508.8 million remains below the preliminary figure.

Bruker expects its first-quarter 2021 organic revenues (adjusted for the impacts of foreign currency translation and acquisitions) to grow by about 22-23% year over year, which is in line with the company’s expectation (to be above 15%) as provided in its last-reported quarter’s earnings call.

Per the company, the strong revenue uptick in the first quarter resulted from a double-digit organic year-over-year revenue growth across all three Bruker Scientific Instrument or BSI groups, including the two GHz-class Nuclear Magnetic Resonance (“NMR”) systems.

Following this after-market release yesterday, shares of the company are up 1.5% in today’s premarket trading.

2021 Financial Outlook

Bruker did not provide any yearly financial guidance in its first-quarter 2021 preliminary revenues press release. Nonetheless, the company, during its fourth-quarter 2020 earnings release in February, had initiated the financial outlook for the full-year 2021. The company expects full-year 2021 revenue growth in the band of 11-13% and organic revenue growth of approximately 7-9%. The Zacks Consensus Estimate for the full-year reported revenues is currently pegged at $2.24 billion.

The company projects its full-year adjusted earnings per share to lie in the range of $1.72-$1.77, reflecting an uptick of around 27-31% from the prior-year quarter. The Zacks Consensus Estimate for the same is currently pegged at $1.77.

A Brief Q1 Analysis

Bruker has been observing a robust adoption of its products by research entities over the past few months. The company, in January, announced that three institutions are now accelerating their research into functional structural biology and human disease with new ultra-high field NMR spectrometers installed in 2020. The same month, Bruker announced receipt of the FDA’s clearance and U.S. launch of the MBT Sepsityper Kit US IVD for rapid microbial identification of more than 425 microorganisms from positive blood cultures on the MALDI Biotyper CA System.

Meanwhile, the company’s preliminary projection of a robust improvement in revenues compared to the sequentially last-reported quarter, lifts our confidence.

Price Performance

Shares of the company have gained 16.8% in the past three months compared with the industry’s 4.2% growth and the S&P 500’s 10.6% rise.

Zacks Rank & Key Picks

Currently, Bruker carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are AmerisourceBergen Corporation ABC, Cantel Medical Corp. CMD and DENTSPLY SIRONA Inc. XRAY.

AmerisourceBergen’s long-term earnings growth rate is estimated at 11.4%. The company presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Cantel’s long-term earnings growth rate is estimated at 19%. It currently carries a Zacks Rank #2.

DENTSPLY SIRONA’s long-term earnings growth rate is estimated at 20%. It currently carries a Zacks Rank #2.

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