Revvity(RVTY) - 2026 Q1 - Quarterly Results

Financial Performance - GAAP earnings per share for Q1 2025 was $0.35, up from $0.21 in Q1 2024, representing a 66.7% increase[4] - Revenue for Q1 2025 was $665 million, a 2% increase from $650 million in Q1 2024, with organic growth of 4%[4][7] - Adjusted earnings per share from continuing operations for Q1 2025 was $1.01, compared to $0.98 in the same period last year, reflecting a 3.1% increase[5] - The company reported adjusted operating income of $170 million for Q1 2025, slightly up from $166 million in Q1 2024[5] - Net income for the three months ended March 30, 2025, was $42,237,000, compared to $26,013,000 for the same period in 2024[27] - Adjusted operating profit margin for Q1 2025 was 25.6%, slightly up from 25.5% in the same period last year[5] - Revenue for the three months ended March 30, 2025, was $664,762,000, an increase of 2% compared to $649,920,000 for the same period in 2024[22] - Adjusted operating income for the same period was $169,911,000, representing an operating margin of 25.6%, slightly up from 25.5% in the prior year[22] Revenue Segments - The Life Sciences segment reported Q1 2025 revenue of $324 million, a 3% increase year-over-year, with organic revenue growth of 5%[6] - The Diagnostics segment achieved Q1 2025 revenue of $340 million, a 1% increase from $337 million in Q1 2024, with organic growth of 2%[8] - The Life Sciences segment generated revenue of $340,395,000, while the Diagnostics segment generated $324,367,000 for the three months ended March 30, 2025[22] Guidance and Projections - Full year 2025 revenue guidance has been raised to a range of $2.83-$2.87 billion, with organic growth guidance reaffirmed at 3-5%[10] - The company reaffirmed its adjusted EPS guidance for the full year 2025 at $4.90-$5.00[10] - Projected organic revenue growth for FY 2025 is estimated to be between 3% and 5%[31] Assets and Liabilities - The company reported total assets of $12,360,724,000 as of March 30, 2025, a slight decrease from $12,392,478,000 at the end of 2024[24] - Cash and cash equivalents at the end of the period were $1,138,687,000, down from $1,164,452,000 at the beginning of the period[28] - Total liabilities were reported at $4,723,594,000, with long-term debt amounting to $3,168,384,000[24] Non-GAAP Measures - The company uses "adjusted earnings per share from continuing operations" to exclude various costs, including amortization of intangible assets and acquisition-related expenses, to better reflect ongoing performance[41] - Management believes that amortization of intangible assets does not accurately reflect ongoing operations, as these charges are fixed post-acquisition[42] - Debt extinguishment costs are excluded from non-GAAP measures as they do not reflect the performance of ongoing operations[42] - Significant litigation matters and settlements are not included in adjusted earnings as they do not represent ongoing operational performance[45] - The company excludes asset impairments from non-GAAP measures, believing they do not accurately reflect ongoing operations[45] - Changes in the value of investments are excluded from adjusted earnings, as management believes these do not reflect ongoing operational performance[45] - The impact of foreign currency changes is excluded to avoid obscuring underlying trends in performance[45] - Management uses non-GAAP measures to evaluate operating performance and communicate financial results to the Board of Directors[47] - The company emphasizes that non-GAAP measures should be viewed alongside GAAP financial measures due to their limitations[46] - Non-GAAP measures may differ from similar measures used by other companies, highlighting the need for careful comparison[46] Operational Performance - The company emphasized strong execution and adaptability to macroeconomic changes as key drivers of performance in Q1 2025[6] - Organic revenue growth from continuing operations was 4%, after accounting for a -1% impact from foreign exchange rates[30] - The company incurred $10,586,000 in significant litigation matters and settlements during the quarter[22]