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Bruker (BRKR) Q1 FY2024 earnings: revenue $722 million, up 5.3% on the year

Bruker Corp. (BRKR) reported revenue of $722 million for Q1 FY2024, the quarter ended 31 March 2024, up 5.3% on the same quarter a year earlier. Net income was $51 million, down 33.5% on the year, and diluted earnings per share $0.35. The figures are the company's own, from the 10-Q it filed with the SEC on 10 May 2024.

Revenue$722 millionup 5.3%
Net income$51 milliondown 33.5%
Diluted EPS$0.35
QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Revenue722854n/an/a
Cost of revenue369424n/an/a
Gross profit353430n/an/a
Gross margin48.9%50.4%n/a
Research and development81.883.5n/an/a
Selling, general and administrative195211n/an/a
Operating income64.8104n/an/a
Operating margin9.0%12.1%n/a
Interest expense5.012.2n/an/a
Pre-tax income71.6241n/an/a
Income tax19.837.1n/an/a
Effective tax rate27.7%15.4%n/a
Net income50.9206n/an/a
Net margin7.1%24.0%n/a
Diluted EPS$0.35$1.41n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Operating cash flow21.8206n/an/a
Capital expenditure21.431.5n/an/a
Free cash flow0.4174n/an/a
Free cash flow margin0.1%20.4%n/a
Cash from investing-304-36.8n/an/a
Cash from financing152-59.9n/an/a
Depreciation and amortisation34.737.3n/an/a
Share-based compensation5.36.2n/an/a
Buybacks0.050.4n/an/a
Dividends paid7.37.3n/an/a
Dividend per share$0.05n/an/an/a
Diluted shares, weighted146m146mn/an/a
Shares outstanding at period end145m145mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Shareholders' equity1,4151,377n/an/a
Non-controlling interest17.617.4n/an/a
Redeemable equity17.918.7n/an/a
Debt1,3781,282n/an/a
Operating lease liabilities85.774.8n/an/a
Finance lease liabilitiesn/a15.8n/an/a
Other liabilities1,5911,464n/an/a
Total liabilities and equity4,5064,250n/an/a
Fixed assets586600n/an/a
Goodwill752583n/an/a
Intangible assets449330n/an/a
Cash and equivalents340488n/an/a
Receivables475492n/an/a
Inventory1,060968n/an/a
Other assets843788n/an/a
Total assets4,5064,250n/an/a

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue743854722801864980801797860977823838
Cost of revenue360424369416446486410440481528444422
Gross profit383430353385419493391358379449380416
Gross margin52%50%49%48%48%50%49%45%44%46%46%50%
R&D71.383.581.892.298.110497.110098.399.610194.3
SG&A178211195221230247225231242247242239
Operating income12410464.848.168.172.131.811.9-51.876.310.2-65.3
Operating margin17%12%9%6%8%7%4%1%-6%8%1%-8%
Interest expense3.912.25.015.711.615.613.115.720.311.212.217.8
Pre-tax income11924171.623.955.356.125.10.5-71.868.221.9-40.7
Tax rate26%15%28%67%27%73%35%-620%n/a55%11%n/a
Net income88.120650.97.640.913.717.47.6-59.626.014.4-52.0
Net margin12%24%7%1%5%1%2%1%-7%3%2%-6%
Diluted EPS$0.60$1.41$0.35$0.05$0.27$0.09$0.11$0.05-$0.41$0.10$0.02-$0.41
Operating cash flow44.120621.81.138.419065.0-128-33.223071.2-77.4
Capital expenditure26.931.521.424.632.636.726.021.320.922.624.228.8
Free cash flow17.21740.4-23.55.815339.0-149-54.120747.0-106
Buybacks79.550.40.00.00.00.010.00.00.00.00.0n/a
Dividends paid7.47.37.37.77.67.67.77.60.07.57.67.5
Shares outstanding146m145m145m151m152m152m152m152m151m152m152m152m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 10 May 2024, accession 0000950170-24-057736: the filing on EDGAR. All of Bruker Corp.'s filings: EDGAR company page.

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