The organic revenue decline and sharp EPS drop confirm ongoing headwinds from academic funding, tariffs, and currency. The reconfirmed FY guidance provides a floor, but Q1 results fell short of the trajectory needed to hit the full-year numbers. Watch Q2 for the promised return to organic growth — a miss there would severely undermine credibility. The BSI book-to-bill above 1.0x is a positive leading indicator, but it has not yet translated to reported revenue.
Price Chart
Executive Summary
Bruker reported Q1 2026 revenue of $823.4M (+2.7% YoY, but -4.4% organically) and GAAP diluted EPS of $0.02, down from $0.11 a year ago. Non-GAAP operating income fell to $84.2M from $101.7M, and non-GAAP EPS dropped to $0.31 from $0.47. The company reconfirmed its FY2026 guidance for revenue of $3.57-$3.60B and non-GAAP EPS of $2.10-$2.15, but the underlying organic revenue decline and margin compression make this a bearish report.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $823.4M, up 2.7% reported but down 4.4% organically YoY
- GAAP diluted EPS $0.02 vs $0.11 in Q1 2025
- Non-GAAP diluted EPS $0.31 vs $0.47 in Q1 2025, a 34% decline
- Non-GAAP operating margin compressed to 10.2% from 12.7% a year ago
- BSI segment organic revenue declined 5.0% YoY; BEST segment organic revenue grew 3.0%
- FY2026 guidance reconfirmed: revenue $3.57-$3.60B, non-GAAP EPS $2.10-$2.15
- BSI book-to-bill above 1.0x for 3rd consecutive quarter; bookings up high-single digits organically
- Free cash flow improved to $47.0M from $39.0M in Q1 2025
Financial Impact
Non-GAAP EPS declined 34% YoY to $0.31; GAAP EPS fell to $0.02 from $0.11; organic revenue declined 4.4%
Risk Factors
- Continued organic revenue decline in Q2 would break the FY guidance narrative
- Tariff and currency headwinds persist, especially US-China tensions
- GAAP operating income fell to just $10.2M, leaving minimal margin for error
- Restructuring and impairment charges continue to weigh on GAAP results
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-207498 |
| Document: brkr-20260506.htm | 0001193125-26-207498 |
| Document: 0001193125-26-207498-index-headers.html | 0001193125-26-207498 |
| Document: 0001193125-26-207498-index.html | 0001193125-26-207498 |
| Document: 0001193125-26-207498.txt | 0001193125-26-207498 |
| 8-K Data (Synthetic) | 0001193125-26-207498 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 15, 2026 23w ago | 8-K | $332.01 $437.99 | ▲ +31.92% | ▲ +27.07% | $446.32 (+34.43%) |
May 6, 2026 24w ago | 8-K | $330.36 $466.90 | ▼ −41.33% | ▼ −39.27% | $446.32 (−35.10%) |
Apr 28, 2026 26w ago | 8-K | $271.98 $449.29 | ▲ +65.19% | ▲ +61.08% | $446.32 (+64.10%) |
Apr 10, 2026 28w ago | DEFA14A | $298.50 $425.47 | ▲ +42.54% | ▲ +33.61% | $446.32 (+49.52%) |
Apr 10, 2026 28w ago | 8-K | $298.50 $425.47 | ▲ +42.54% | ▲ +33.61% | $446.32 (+49.52%) |
US Market Status
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