Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). How Have the Numbers Shaped Up for Revvity? Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- ...

This maker of scientific instruments has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 6.48%. With this earnings history in mind, recent estimates have been moving higher for Revvity. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank. ...

Bionano has entered into a software marketing agreement with Revvity, Inc. (Revvity) under which Revvity will market and commercialize Bionano's VIA™ software to Revvity's next generation sequencing (NGS) customers as part of its newborn sequencing research workflow VIA is expected to enhance Revvity's newborn sequencing solution by adding an assessment of copy number variation (CNV) to the NGS solution report and streamlining the workflow's interpretation capabilities Revvity's end-to-end workflow includes ...

Revvity, Inc. (RVTY) is well-poised for growth in the coming quarters, courtesy of its strong product portfolio. The optimism, led by its first-quarter 2024 performance and focus on artificial intelligence (AI), also looks promising. Headwinds resulting from foreign exchange volatility and integration risks are major downsides. This Zacks Rank #3 (Hold) company's shares have risen 0.4% year to date compared with 2.4% growth of the industry.The S&P 500 has increased 11.6% during the same time frame. The reno ...

Revenue Performance - Overall revenue for Q1 FY2024 was $649.9 million, a decrease of $24.9 million, or 4%, compared to Q1 FY2023 [81] - Life Sciences segment revenue decreased by $25.4 million, or 8%, to $303.0 million, driven by declines in instruments and reagents revenue [86] - Diagnostics segment revenue increased by $0.5 million, or less than 1%, to $347.1 million, supported by growth in immunodiagnostics and reproductive health [94] Margin Analysis - Consolidated gross margins decreased by 188 basis points to 54.6% due to lower sales volume, despite pricing actions and productivity gains [82] - Operating margins fell from 11% to 7% primarily due to lower sales volume and increased rebranding expenses [82] - Segment operating income for Life Sciences decreased by $27.7 million, or 21%, to $101.7 million, with a segment operating margin decline of 585 basis points [97] Expenses - Research and development expenses decreased by $6.3 million, or 11%, to $50.4 million, representing 7.7% of revenue [89] - Selling, general and administrative expenses increased by $12.0 million, or 5%, to $260.6 million, accounting for 40.1% of revenue [88] Tax and Discontinued Operations - The effective tax rate from continuing operations was 16.9%, up from 15.6% in the prior year, due to higher projected income in certain jurisdictions [93] - Discontinued operations reported a loss of $2.7 million for the three months ended March 31, 2024, compared to income of $544.6 million for the same period in 2023 [100] Cash and Investments - Cash and cash equivalents totaled $998.1 million as of March 31, 2024, with $411.1 million held by non-U.S. subsidiaries [103] - Net cash provided by operating activities increased to $150.1 million for the three months ended March 31, 2024, up from $71.7 million in the prior year [111] - Net cash used in investing activities decreased to $18.2 million for the three months ended March 31, 2024, compared to $215.1 million in the same period in 2023 [112] Shareholder Returns and Debt Management - The company completed the sale of certain assets for up to $2.45 billion, receiving approximately $2.13 billion in cash proceeds [99] - The sale of the Business generated approximately $2.13 billion in cash, which will be used for debt maturities, share repurchases, and strategic acquisitions [102] - The company repurchased 63,170 shares of common stock for $6.6 million during the three months ended March 31, 2024, with $348.9 million remaining under the repurchase program [105] - A quarterly cash dividend of $0.07 per share was declared for the first quarter of fiscal year 2024, with $8.6 million accrued for payment in May 2024 [115] - The company expects to utilize proceeds from U.S. treasury securities to repay outstanding 2024 Notes totaling $711.5 million [114] Pension Contributions - The company contributed $1.7 million to pension plans outside of the United States during the three months ended March 31, 2024, with an additional $5.2 million expected by the end of fiscal year 2024 [108]

Revvity, Inc. (RVTY) reported first-quarter 2024 adjusted earnings per share (EPS) of 98 cents, which beat the Zacks Consensus Estimate of 94 cents by 4.3%. However, the bottom line declined 2.9% from the year-ago quarter’s level.GAAP EPS from continuing operations was 23 cents compared with 20 cents in the prior-year period. However, GAAP EPS was 21 cents, which includes a loss of 2 cents per share from discontinued operations.Price PerformanceRVTY’s shares have gained 23.7% in the past six months compared ...

Revvity, Inc. (NYSE:RVTY) Q1 2024 Earnings Conference Call April 29, 2024 8:00 AM ET Company Participants Steve Willoughby - Senior Vice President, Investor Relations Prahlad Singh - President and Chief Executive Officer Max Krakowiak - Senior Vice President and Chief Financial Officer Conference Call Participants Michael Ryskin - Bank of America Matthew Sykes - Goldman Sachs Patrick Donnelly - Citi Andrew Cooper - Raymond James Joshua Waldman - Cleveland Research Doug Schenkel - Wolfe Research Vijay Kumar ...

For the quarter ended March 2024, Revvity (RVTY) reported revenue of $649.92 million, down 3.7% over the same period last year. EPS came in at $0.98, compared to $1.01 in the year-ago quarter.The reported revenue represents a surprise of +0.45% over the Zacks Consensus Estimate of $647.02 million. With the consensus EPS estimate being $0.94, the EPS surprise was +4.26%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expe ...

FOR IMMEDIATE RELEASE April 29, 2024 Revvity Announces Financial Results for the First Quarter of 2024 WALTHAM, Mass. -- Revvity, Inc. (NYSE: RVTY), today reported financial results for the first quarter ended March 31, 2024. The Company reported GAAP earnings per share of $0.21, as compared to $4.50 in the same period a year ago. GAAP revenue for the quarter was $650 million, as compared to $675 million in the same period a year ago. GAAP operating income from continuing operations for the quarter was $44 ...

Revvity (RVTY) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $1.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.26%. A quarter ago, it was expected that this maker of scientific instruments would post earnings of $1.15 per share when it actually produced earnings of $1.25, delivering a surprise of 8.70%.Over the last four quarters ...