Bruker Posts Q2 Beat

Shares of Bruker Corp. were down over 2% after hitting a new high since Dec. 2000 on Friday after the company reported Q2 results which were better-than-expected and raised its full-year outlook. Adjusted EPS was $0.23 per share, up from $0.20 per share a year earlier and three cents above the consensus of analysts polled by Capital IQ.

Revenues rose 11.6% year-over-year to $414.9 million and beat the $384.8 million mean estimate. For FY17, Bruker now expects EPS of $1.08 to $1.12 per share, straddling the $1.10 per share consensus, and up from a prior view for $1.05 to $1.09. It also expects revenue growth of 4.5% to 6%, up from a prior outlook for 2% to 3.5% growth. BRKR trades in a new 52-week range of $19.58 to $30.22.

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