Bruker Q2: Organic Growth Returns, but $135M Goodwill Charge Drives GAAP Loss; FY26 EPS Guidance Reaffirmed at $2.10–$2.15

summarizeSummary

Bruker returned to organic growth in Q2 2026 with BSI bookings up 10% organically, but a $135M goodwill impairment charge drove a GAAP loss. Non-GAAP EPS of $0.49 beat last year, and FY26 guidance was reaffirmed.

check_boxKey Events · Earnings and Guidance · BRKR

• Q2 Revenue and Organic Growth

  Revenue of $838.5M, up 5.2% yoy; organic growth of 2.8% (3.4% ex-tariff refunds). BSI bookings up 10% organically with book-to-bill >1.0x.

• Goodwill Impairment Drives GAAP Loss

  A $134.9M non-cash goodwill impairment charge led to a GAAP diluted loss per share of $(0.41), compared to $0.05 EPS in Q2 2025.

• Non-GAAP Profitability Improves

  Non-GAAP diluted EPS of $0.49 vs. $0.32 yoy; non-GAAP operating margin expanded to 14.1% from 9.0%, driven by cost controls and mix.

• FY26 Guidance Reaffirmed

  FY26 revenue guidance of $3.54–$3.57B (3–4% reported growth) and non-GAAP EPS of $2.10–$2.15 reaffirmed, with currency and tax adjustments only.

auto_awesomeAnalysis · BRKR · Industrial Applications And Services

Bruker's Q2 results mark a return to organic revenue growth (+2.8%) and robust BSI bookings (+10% organic), signaling a demand recovery in key end markets like semicon and biopharma. However, a $134.9 million non-cash goodwill impairment charge pushed GAAP results to a loss of $(0.41) per share. Non-GAAP EPS of $0.49 beat the prior year's $0.32, driven by margin expansion. The company reaffirmed its FY26 non-GAAP EPS guidance of $2.10–$2.15, which remains below the $2.30 consensus, but the bookings momentum and margin improvement suggest the worst of the demand softness may be behind them.