BRUKER CORP Q1 FY2026 earnings call

Frank mentioned U.S. academic demand, tariffs, and currency headwinds pressured year-over-year results but Q1 2026 financial performance was well ahead of expectations. BSI bookings growth, strength in industrial research orders, double-digit bookings growth in academic orders outside U.S. Also mentioned strong demand in AI-driven semiconductor metrology, SciWise scientific software and lab digitization, and European Middle East security detection businesses with over 20% organic bookings growth. Gerald covered financials, reported revenue increase, organic revenue decrease, acquisitions and FX impact, margins, EPS, cash flow, delevering, and reconfirmed full year 2026 guidance.

Brooker Scientific Instruments Segment (BSI) bookings grew organically in the high single digits in Q1 2026. BioSpin group had revenue of 198 million with CER decline in high single-digit percentage. CALIC group had revenues of $316 million with mid-single-digit percentage CER growth. Brooker Nano revenue was $246 million, with CER revenue declining mid-single-digits percentage. Best CR revenues grew 3% net of intercompany eliminations, driven by superconducting wire business.

Reconfirmed full year 2026 guidance: reported revenue $3.57 to $3.60 billion (4% - 5% growth), organic revenue growth 1% - 2%, acquisitions contributing 1.5%, FX tailwind 1.5%, non-GAAP operating margin expansion 250 - 300 basis points, non-GAAP EPS 210 - 215. Expect second quarter organic revenue growth in low to mid single digits, and meaningful step up in non-GAAP operating margin and EPS in Q2 with continued improvement in second half.

Risks include recent acquisitions, geopolitical risks, wars or blockades, market demand, tariffs, currency exchange rates, competitive dynamics, supply chains. Factors that might cause actual results to differ from forward-looking statements include those discussed in earnings release and SEC filings.

Q: Puneet Sudha on demand trends, OUS and China, A: Frank Laukeen's response.

Q: Tico Peterson on SEMI, U.S. academic, A: Frank and Gerald's responses.

Q: Brandon Couillard on China, A: Gerald's response.

Q: Doug Schenkel on Q2 growth, margin, A: Frank's response.

Q: Subbu Nambi on end markets, Middle East defense, A: Frank's response.

Q: Casey Woodring on margin, BEST orders, A: Gerald and Frank's responses.

Q: Patrick Donnelly on Europe AccoGov, A: Frank's response.