2024

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<p class="has-drop-cap">Revvity Inc. (NYSE: RVTY) recently announced its <a href="https://ir.revvity.com/news/investor-news/news-details/2024/Revvity-Announces-Financial-Results-for-the-Second-Quarter-of-2024/default.aspx" target="_blank" aria-label="financial results for the second quarter of 2024 (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">financial results for the second quarter of 2024</a>, showcasing a mix of achievements and challenges. <br><br>The company reported GAAP earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) of $0.45, which marks an increase from $0.28 during the same period last year. However, GAAP revenue for the quarter was $692 million, down from $709 million a year ago.</p>
<p>Despite this decline, the company managed to achieve a GAAP operating income of $86 million, up from $78 million in the previous year. The GAAP operating profit margin also saw an improvement, rising to 12.4% from 11.0%.</p>
<p>On the adjusted metrics front, Revvity reported an adjusted EPS from continuing operations of $1.22, slightly up from $1.21 in the same period last year. Adjusted revenue for the quarter remained at $692 million, compared to $709 million a year ago. <br><br>Adjusted operating income came in at $199 million, down from $204 million the previous year. The adjusted operating profit margin was relatively stable at 28.7%, compared to 28.8% last year. These figures indicate that while the company has faced revenue challenges, it has managed to maintain profitability through efficient operations.</p>
<h3 id="revvity-beats-q2-expectations-with-1-12-adj-eps">Revvity Beats Q2 Expectations with $1.12 Adj. EPS</h3>
<p>Comparing Revvity’s current performance against market expectations reveals an encouraging picture. Analysts had projected an EPS of $1.12 and revenue of $690.33 million for the quarter. <br><br>The actual EPS of $1.22 exceeded expectations by $0.10, while the actual revenue of $692 million surpassed the forecast by $1.67 million. This indicates that Revvity has managed to outperform market expectations, despite a slight year-over-year decline in revenue. The company’s ability to exceed EPS expectations suggests strong cost management and operational efficiency.</p>
<p>Segment-wise, the Life Sciences division reported a revenue decline of 7% to $314 million, with a corresponding adjusted operating income of $112 million. In contrast, the Diagnostics segment saw a 1% increase in revenue, reaching $378 million, and an adjusted operating income of $98 million. The Diagnostics segment’s performance was particularly notable for its 3% organic revenue growth.</p>
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<h3 id="revvity-raises-full-year-2024-adj-eps-guidance-to-a-range-of-4-70-to-4-80">Revvity Raises Full Year 2024 Adj. EPS Guidance to a range of $4.70 to $4.80</h3>
<p>Looking forward, Revvity has raised its full-year 2024 adjusted EPS guidance to a range of $4.70 to $4.80. The company also updated its full-year revenue guidance to $2.77 billion to $2.79 billion, reflecting recent changes in foreign currency exchange rates and assuming a 2% organic revenue growth. <br><br>This revised guidance underscores the company’s confidence in its future performance, driven by its strong operational execution and innovative capabilities. The updated guidance also aligns with the company’s strategic focus on maintaining profitability while navigating external challenges.</p>
<p>CEO Prahlad Singh expressed optimism about the company’s trajectory, stating that Revvity’s unique strengths in innovation and execution have enabled it to exceed expectations.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/revvity-inc-nyse-rvty-exceeds-q2-expectations-despite-revenue-decline/">Revvity Inc. (NYSE: RVTY) Exceeds Q2 Expectations Despite Revenue Decline</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Revvity Inc. (NYSE: RVTY) Exceeds Q2 Expectations Despite Revenue Decline

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