BRKR Nasdaq Russell 1000 Earnings call
Bruker (BRKR) · Q2 2026 results and valuation
Share price: $62.41 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 4 Aug 2026 and 6 May 2026
Net income turned to a loss from a profit last quarter. Management sounded cautious, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Turned loss
Net income vs Q1 2026
Outlook given
Net income -52.0M vs 14.4M
Revenue +1.8%
2 · How management spoke
Cautious
Among the least upbeat of all company calls
Answers to analysts: upbeat, in line with the script.
Similar to last call.
3 · What stood out
Figure
Organic bookings in biopharma grew more than 20% in the second quarter due to demand for NMR, x-ray, and mass products.
Valuation
Is Bruker undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 10.7% growth a year (3-year revenue growth), the model's fair value is $1.55 a share — the stock trades 3921% above it. Today's price assumes 42.7% growth a year.
Current price
$62.41
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+42.7% for 10 yrs
Fair value / share
$1.55
Buy below
$1.16
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
-
Rising
Tariff refunds reduced organic revenue growth from 3.4% to 2.8% but added around 200 basis points to profitability.
Source quote
“tariff refunds reduced our organic revenue growth from 3.4% to 2.8%, but strengthened our profitability in the quarter, adding around 200 basis... U.S. Net U.S.”
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Guidance
Berkshire Hathaway updated its expected foreign exchange tailwind to 0.5% instead of 1.5%, resulting in projected reported revenue of $3.54 billion to $3.57 billion.
Source quote
“We now expect a foreign exchange tailwind to revenues of 0.5% rather than 1.5% previously, resulting in reported revenue of $3.54 billion to $3.57 billion and representing reported...”
-
Fading
Management expects 300 to 350 basis points of organic revenue improvement in 2026, driven by cost-saving actions to improve overall performance.
Source quote
“Our operating margin performance is very strongly driven by our cost-saving actions, and you've already heard me describe those in my prepared... I think, generally speaking, we are expecting continued improvement in the overall revenue performance sequentially as we march through 2026. We're expecting 300 to 350 basis points of organic improvement.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Finally, the first half of '26 BEST revenues were up 6%, net of intercompany eliminations with strong growth in the superconductor business and solid revenue growth at Research Instruments, or...”
“So in summary, in the second quarter, we achieved solid orders in many life science end markets, and we achieved very strong order growth in our so-called deep tech tools.”
“We are pleased that Bruker has returned to organic revenue growth in the second quarter and that our focus on cost reductions and profitability improvements resulted in solid margin expansion...”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 838.5M | 823.4M | +1.8% | 797.4M | +5.2% |
| Gross profit | 416.0M | 379.8M | +9.5% | 357.9M | +16.2% |
| Operating income | -65.3M | 10.2M | Turned loss | 11.9M | Turned loss |
| Net income | -52.0M | 14.4M | Turned loss | 7.6M | Turned loss |
| EPS | -0.41 | 0.02 | Turned loss | 0.05 | Turned loss |
| P/E | 12-mo loss | 12-mo loss | — | 79.2 | — |
Topics
Most discussed now
- New However, with this delayed gratification of them typically having 9 months or longer delivery times.
- The deep tech portfolio with a longer delivery times of, let's say, 3 to 6 quarters is about 15% of...
- Frank mentioned the adoption of a new operating structure for Bruker, and that's going to contribute some more additional savings...
- Bruker expected strong security detection orders but probably not greater than 20%.
- New I cannot break out how much of that would have 3 or 4 quarters delivery time versus 6 and longer...
Faded since Q1 2026
- Fading Despite significant macro and foreign-exchange headwinds in the quarter, Bruker delivered financial performance ahead of expectations it…
- Fading More fundamentally, as Bruker marches through the third and the fourth quarter, it expects to see stronger operating margin performance,...
- Fading I'm actually pretty pleased in what Bruker is doing at BioSpin, but more in July.
Latest announcements
Official filings, newest first.
- Other events · SEC 8-K
- Results of operations · SEC 8-K
- Other events · SEC 8-K
- Shareholder vote results · SEC 8-K
- Other events · SEC 8-K
- Results of operations · SEC 8-K
- Other events · SEC 8-K
- Director or officer change · SEC 8-K