Bruker Corporation has announced financial results for its third quarter and for the nine months ended September 30, 2023.
Third Quarter 2023 Financial Results
Bruker’s revenues for the third quarter of 2023 were $742.8 million, an increase of 16.3% compared to $638.9 million in the third quarter of 2022. In the third quarter of 2023, revenues increased 10.9% organically year-over-year. Growth from acquisitions was 2.1%, while foreign currency translation had a positive effect of 3.3%.
Third quarter 2023 Bruker Scientific Instruments revenues of $676.3 million increased 16.1% year-over-year, with organic revenue growth of 10.9%.
First Nine Months of 2023 Financial Results
For the first nine months of 2023, Bruker’s revenues were $2.11 billion, an increase of 15.8% from $1.82 billion in the first nine months of 2022. In the first nine months of 2023, revenues increased 13.9% organically year-over-year. Growth from acquisitions was 2.0%, while foreign currency translation had a negative effect of 0.1%.
In the first nine months of 2023, Bruker Scientific Instruments revenues of $1.92 billion increased 15.9% year-over-year, with organic growth of 14.0%.
Frank H. Laukien, Bruker’s President and CEO, commented: “Bruker continues to deliver excellent growth, with three consecutive quarters of double-digit organic revenue growth year-to-date in 2023. We anticipate high-single digit organic revenue growth in the fourth quarter of 2023, which puts us on track for three consecutive years of double-digit organic revenue growth in 2021-2023. This year, Bruker has demonstrated great resiliency in difficult market conditions, with industry-leading organic revenue growth of 13.9%. Given our strong year-to-date financial results, solid backlog, and positive outlook for the fourth quarter, we are raising our organic revenue growth guidance for FY 2023 again, by 150 bps at the midpoint.”
For more information: www.bruker.com