Sign in

    S. Brandon Couillard • Wells Fargo Securities, LLC

    S. Brandon Couillard's questions to Waters Corp (WAT) leadership

    S. Brandon Couillard's questions to Waters Corp (WAT) leadership • Q1 2025

    Question

    S. Brandon Couillard of Wells Fargo questioned the drivers behind the 90% growth in the PFAS testing business, whether there were timing benefits, and asked about the company's appetite for another large or transformative acquisition.

    Answer

    CEO Udit Batra attributed the sustained, strong PFAS growth to the superior sensitivity of the Xevo TQ Absolute instrument and strengthening EPA regulations, not a one-time pull-forward. On M&A, Batra described the Wyatt acquisition as a 'poster child' and confirmed an appetite for similar deals if the strategic and financial fit is right, noting valuations have become more reasonable.

    Ask Fintool Equity Research AI

    S. Brandon Couillard's questions to Bruker Corp (BRKR) leadership

    S. Brandon Couillard's questions to Bruker Corp (BRKR) leadership • Q4 2024

    Question

    S. Brandon Couillard requested an update on the timsTOF platform's performance and outlook, the impact of currency on operating margin guidance, and the forecast for free cash flow conversion in 2025.

    Answer

    CEO Frank Laukien described the timsTOF business as approaching $200 million, with its growth rate recovering and win rates improving after a period of competitive pressure. CFO Gerald Herman noted a 3% foreign exchange headwind is expected for 2025. Both executives highlighted strong working capital performance in Q4 and expect continued improvement in free cash flow conversion in 2025, which is a key focus.

    Ask Fintool Equity Research AI

    S. Brandon Couillard's questions to Bruker Corp (BRKR) leadership • Q3 2024

    Question

    S. Brandon Couillard questioned the reduction in the M&A contribution forecast for the year and asked for a reconciliation of the high decremental margin implied by the updated revenue and EPS guidance.

    Answer

    CEO Frank Laukien confirmed the M&A contribution was lowered from 10% to 9.5% due to weaker-than-expected demand in the biopharma-exposed Cellular Analysis and NanoString businesses, while ELITech and Chemspeed are performing well. CFO Gerald Herman explained the high decremental margin is due to a ~$100 million CER revenue drop being partially offset by favorable FX, while Frank Laukien added that the same FX shift created an additional 30 bps headwind to operating margin.

    Ask Fintool Equity Research AI