Key Highlights

  • Third quarter Revenue rose 1.6% to USD 874.0 million, ahead of the USD 865.2 million estimate.
  • Non-GAAP EPS of USD 0.56 topped the USD 0.42 estimate, while the GAAP loss was USD 0.81.
  • Non-GAAP Operating Margin widened 400 basis points to 16.3%, and quarterly free Cash Flow reached USD 96.7 million.
  • Organic growth and EPS guidance was reconfirmed, with 2026 revenue at USD 3.52 billion to USD 3.56 billion.

Bruker (NASDAQ:BRKR) reported third quarter revenue of USD 874.0 million, up 1.6% from USD 860.5 million a year earlier and above the USD 865.2 million estimate. Organic revenue grew 0.7%, acquisitions added 1.7 percentage points, and currency translation subtracted 0.8 points. Non-GAAP diluted EPS of USD 0.56 compared with the USD 0.42 estimate and USD 0.45 a year ago.

Segment Results and the Impairment Charge

Bruker Scientific Instruments revenue was USD 793.9 million, up 0.8%, with organic revenue down 0.4%. Bruker Energy and Supercon Technologies grew 11.2% to USD 82.1 million, or 11.8% organically. Chief executive Frank Laukien said bookings trends stayed positive, with the fifth straight quarter of Bruker Scientific Instruments book-to-bill above one, and that Demand strengthened in most end markets, including US academia. Organic bookings and Backlog in that segment are both up mid-single digits year to date.

GAAP results were weighed down by a non-cash Goodwill impairment of USD 174.5 million. The GAAP operating loss was USD 91.0 million, compared with a loss of USD 51.8 million a year earlier, and the GAAP loss per diluted share was USD 0.81, against USD 0.41. Nine month GAAP loss per share was USD 1.20.

Margins and Cash Flow

GAAP Gross Profit was USD 429.3 million, a 49.1% margin, compared with USD 379.4 million and 44.1% a year earlier. Non-GAAP Operating Income rose to USD 142.6 million from USD 105.9 million, lifting the margin to 16.3% from 12.3%. Selling, general and administrative expense fell to USD 226.5 million from USD 242.5 million, and Research and Development spending eased to USD 92.0 million from USD 98.3 million.

Operating cash flow was USD 118.2 million, versus an outflow of USD 33.2 million in the prior-year quarter. Non-GAAP free cash flow was USD 96.7 million, compared with negative USD 54.1 million. Over nine months, free cash flow was USD 37.5 million, against negative USD 163.9 million.

Full Year Guidance

Bruker reconfirmed its organic revenue growth range of 1% to 2% and non-GAAP EPS of USD 2.10 to USD 2.15, up 15% to 17% from USD 1.83 in 2025. Reported revenue is guided to USD 3.52 billion to USD 3.56 billion, with acquisitions adding about 1.5% and currency now seen as neutral rather than a 0.5% tailwind. Management projects revenue growth acceleration, continued margin expansion and double-digit EPS growth in 2027.

Metrics to Track

Quarterly non-GAAP EPS of USD 0.56 compares with nine month non-GAAP EPS of USD 1.36 and full year guidance of USD 2.10 to USD 2.15, which by subtraction leaves USD 0.74 to USD 0.79 for the fourth quarter. Nine month revenue of USD 2.54 billion compares with the guided USD 3.52 billion to USD 3.56 billion, leaving about USD 0.98 billion to USD 1.02 billion. The third quarter non-GAAP operating margin of 16.3% compares with 13.6% for the first nine months.