Brooks Automation (BRKS) Stock Continue Surging After Strong Results

Brooks Automation Inc. (BRKS) surged 5.02 percent on Friday to conclude at $68.49 followed by release of its Results for the fourth quarter and complete fiscal year 2020 on Tuesday. The company showed strong growth for the third consecutive quarter, and thanks to its life sciences segment, it can continue.

In the quarter ended Sep 30, 2020, Brooks Automation’s revenue rose almost 23 percent year on year, to $246.1 million. Earnings per share grew 96 percent to $0.47. Revenue rose 15 percent to $897 million for the full fiscal year.

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The results by worldwide provider of automation and cryogenic solutions surpassed Wall Street expectations and represent the progress of the multi-year investment of Brooks Automation in new technologies, including in the life sciences segment, which for the first time in the company’s history created more than $100 million in revenue. During the COVID-19 period, the company’s products were in demand, particularly services for working with biological samples. Brooks Automation provides various facilities, such as the storage at ultra-low temperatures of biological samples, as well as the manufacture of DNA analysis materials.

The Chelmsford, Massachusetts-headquartered company is experiencing record sales of goods and services. In the past quarter, sales of services increased by 12 percent, and in the direction of sequencing services, sales increased by 21 percent year-on-year. Supply concerns due to the Covid-19 lockdowns are nearly resolved, and Brooks Automation looks forward to further development by expanding production capacity.

Brooks Automation expects sales of between $237 million and $251 million and earnings per share of $0.37 to $0.47 in the first quarter of fiscal 2021.

After release of quarterly results Brooks Automation Inc. (BRKS) stock gained 19.22 percent over the week, and extending that period to a month the gain rose to 34.51 percent while stock added 63.23 percent from beginning of the year.

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