Latest news with #scientificinstruments
Daily Mail
6 days ago
- Business
- Daily Mail
Spectris agrees £4.8bn takeover offer as KKR outbids private equity rival
Private equity giant KKR has trumped rival Advent's takeover bid for British scientific instruments maker Spectris with an improved offer. The two US firms have been battling for control of the FTSE 250 firm since it agreed to an initial £37.63 per Spectris share bid from Advent in June. Spectris withdrew its support for an Advent bid valuing its shares at £41 each on Tuesday, and backed a sweetened KKR offer of £41.75 per share instead. The offer values Spectris' equity at £4.2billion, with an enterprise value of £4.8billion. New York buyout group KKR was dubbed the 'barbarians at the gate' for its fearsome reputation following a 1989 takeover of RJR Nabisco, which was turned into a book and film. It marks another major blow to Britain's public markets, which are on course for the biggest year of takeovers since 2021 after £74billion of offers in the first half, according to Peel Hunt. Spectris directors unanimously recommended KKR's latest offer, which they said was 'fair and reasonable' and 'in the best interests' of shareholders. Spectris shares have more than doubled since Advent's initial bid in June, propelled by the bidding war, and closed at 4,140p on Monday evening. KKR's latest bid values the firm at a 104.9 per cent premium to Spectris' closing share price of £20.38 on 6 June 2025 when Advent's initial bid was made. The firm's latest offer comprises £40.72 in cash and an interim dividend of 28p per Spectris Share. Investors will have to approve the deal at an upcoming meeting before it can go ahead.
Reuters
6 days ago
- Business
- Reuters
UK's Spectris agrees to $5.6 billion offer from KKR as takeover battle heats up
Aug 5 (Reuters) - UK scientific instruments maker Spectris (SXS.L), opens new tab has agreed to a sweetened offer from U.S. firm KKR (KKR.N), opens new tab valuing it at 4.2 billion pounds ($5.57 billion), it said on Tuesday, withdrawing its backing for a lower offer from rival suitor Advent. ($1 = 0.7534 pounds)
Yahoo
04-08-2025
- Business
- Yahoo
Bruker (NASDAQ:BRKR) Reports Sales Below Analyst Estimates In Q2 Earnings
Scientific instrument company Bruker (NASDAQ:BRKR). missed Wall Street's revenue expectations in Q2 CY2025, with sales flat year on year at $797.4 million. The company's full-year revenue guidance of $3.47 billion at the midpoint came in 1.5% below analysts' estimates. Its non-GAAP profit of $0.32 per share was 23.4% below analysts' consensus estimates. Is now the time to buy Bruker? Find out in our full research report. Bruker (BRKR) Q2 CY2025 Highlights: Revenue: $797.4 million vs analyst estimates of $809.2 million (flat year on year, 1.5% miss) Adjusted EPS: $0.32 vs analyst expectations of $0.42 (23.4% miss) Adjusted EBITDA: $68 million vs analyst estimates of $123.6 million (8.5% margin, 45% miss) The company dropped its revenue guidance for the full year to $3.47 billion at the midpoint from $3.52 billion, a 1.4% decrease Management lowered its full-year Adjusted EPS guidance to $2 at the midpoint, a 18% decrease Operating Margin: 1.5%, down from 6% in the same quarter last year Free Cash Flow was -$148.8 million compared to -$25.1 million in the same quarter last year Organic Revenue fell 7% year on year (7.4% in the same quarter last year) Market Capitalization: $5.76 billion Company Overview With roots dating back to the pioneering days of nuclear magnetic resonance technology, Bruker (NASDAQ:BRKR) develops and manufactures high-performance scientific instruments that enable researchers and industrial analysts to explore materials at microscopic, molecular, and cellular levels. Revenue Growth A company's long-term performance is an indicator of its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Thankfully, Bruker's 11.8% annualized revenue growth over the last five years was decent. Its growth was slightly above the average healthcare company and shows its offerings resonate with customers. We at StockStory place the most emphasis on long-term growth, but within healthcare, a half-decade historical view may miss recent innovations or disruptive industry trends. Bruker's annualized revenue growth of 12.6% over the last two years aligns with its five-year trend, suggesting its demand was stable. We can better understand the company's sales dynamics by analyzing its organic revenue, which strips out one-time events like acquisitions and currency fluctuations that don't accurately reflect its fundamentals. Over the last two years, Bruker's organic revenue averaged 4.8% year-on-year growth. Because this number is lower than its two-year revenue growth, we can see that some mixture of acquisitions and foreign exchange rates boosted its headline results. This quarter, Bruker missed Wall Street's estimates and reported a rather uninspiring 0.4% year-on-year revenue decline, generating $797.4 million of revenue. Looking ahead, sell-side analysts expect revenue to grow 3.2% over the next 12 months, a deceleration versus the last two years. This projection is underwhelming and suggests its products and services will face some demand challenges. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) stock benefiting from the rise of AI. Click here to access our free report one of our favorites growth stories. Operating Margin Bruker has done a decent job managing its cost base over the last five years. The company has produced an average operating margin of 12.7%, higher than the broader healthcare sector. Analyzing the trend in its profitability, Bruker's operating margin decreased by 10.9 percentage points over the last five years. This performance was caused by more recent speed bumps as the company's margin fell by 12 percentage points on a two-year basis. We're disappointed in these results because it shows its expenses were rising and it couldn't pass those costs onto its customers. This quarter, Bruker generated an operating margin profit margin of 1.5%, down 4.5 percentage points year on year. This contraction shows it was less efficient because its expenses increased relative to its revenue. Earnings Per Share We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Bruker's remarkable 10.4% annual EPS growth over the last five years aligns with its revenue performance. This tells us it maintained its per-share profitability as it expanded. In Q2, Bruker reported adjusted EPS at $0.32, down from $0.52 in the same quarter last year. This print missed analysts' estimates, but we care more about long-term adjusted EPS growth than short-term movements. Over the next 12 months, Wall Street expects Bruker's full-year EPS of $2.15 to grow 23%. Key Takeaways from Bruker's Q2 Results We struggled to find many positives in these results. Its full-year EPS guidance missed and its EPS fell short of Wall Street's estimates. Overall, this was a weaker quarter. The stock traded down 3.9% to $36.48 immediately following the results. Bruker underperformed this quarter, but does that create an opportunity to invest right now? We think that the latest quarter is just one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free.
