Benzinga | Nov 2, 2021 10:50AM EDT

Bruker Clocks 19% Jump In Q3 Sales; Lifts FY21 Guidance

* Bruker Corp's (NASDAQ:BRKR) Q3 revenues were $608.9 million, up 19.1 Y/Y (17.8% organically) and beating the Wall Street estimate of $574.17 million.

* The company saw a 1% positive effect on revenues from currency translation and a positive impact of less than 1% from acquisitions.

* Adjusted EPS increased from $0.42 to $0.63, surpassing the consensus of $0.44.

* The company's CALID group, which houses its life sciences and mass spectrometry business, posted 13% growth with revenues of $194.2 million.

* Revenues for Bruker BioSpin increased 22% to $186.5 million, Bruker Nano sales rose 19% to $174.9 million, and Bruker Energy & Supercon Technologies revenues rose 30% to $57.0 million.

* On an adjusted basis, gross margin expanded 210 basis points to 51.7%, and operating margin increased 200 basis points to 20.6%.

* FY21 Guidance: Bruker raised FY21 guidance significantly on solid demand for its products and solutions.

* The company projects revenue growth of 19.5% - 20.5% and organic revenue growth of 16.5% - 17.5% up from its previous projection of 17%-19% and 14%-16%, respectively.

* It expects adjusted EPS of $2.05 - $2.09 (consensus of $1.93), up from its previous guidance of $1.88-$1.93.

* Price Action: BRKR shares closed higher by 1.15% at $81.22 on Monday.