Benzinga | Jun 17, 2021 01:21PM EDT

Bruker Updates FY21 Guidance, Issues Medium Term Outlook

* At its 2021 Virtual Investor Day, Bruker Corporation (NASDAQ:BRKR) raised the 2021 outlook boosted by its first-quarter solid performance.

* For 2021, Bruker expects revenue growth of approximately 16-18% Y/Y, up from the previously issued growth guidance of 14-16% in the Q1 earnings release.

* Organic revenue growth is projected within 13-15%, up from previously disclosed of 11% to 13%.

* The company expects full-year adjusted EPS in the band of $1.84-$1.89, indicating an uptick of 36-40% from the 2020 reported figure (up from the previous expectation of $1.82-$1.87).

* EPS outlook is in line with the consensus of $1.87.

* Foreign currency revenue tailwind of approximately 3% (unchanged).

* Bruker sees an adjusted operating margin expansion of 230 to 270 basis points (210 to 250 bps earlier), compared to an operating margin of 16% in FY 2020.

* For 2024, the company forecasts revenue between $2.7 to $3 billion, excluding acquisitions and currency effects; It sees the adjusted operating margin between 20.7% and 21.5% and adjusted EPS between $2.60 and $3.00.

* Price Action: BRKR shares are down 1.51% at $72.87 during the market trading session on the last check Thursday.