Revvity(US:RVTY)2025-10-27 10:45Financial Performance - GAAP earnings per share for Q3 2025 was $0.40, down from $0.77 in the same period last year[4] - Revenue for Q3 2025 was $699 million, representing a 2% increase compared to $684 million in Q3 2024[4] - Adjusted earnings per share from continuing operations for Q3 2025 was $1.18, compared to $1.28 in the same period last year[5] - The Company reported a GAAP operating profit margin of 11.7% for Q3 2025, down from 14.3% in Q3 2024[4] - Adjusted operating income for Q3 2025 was $182 million, down from $193 million in the same period last year[5] - The adjusted operating profit margin for Q3 2025 was 26.1%, compared to 28.3% in Q3 2024[5] - Net income for the three months ended September 28, 2025, was $46,652,000, a decrease of 51.5% compared to $94,367,000 for the same period in 2024[29] - Income from continuing operations for the nine months ended September 28, 2025, was $144,112,000, down 26% from $194,688,000 in 2024[29] Revenue Segments - Life Sciences segment revenue for Q3 2025 was $343 million, a 1% increase year-over-year[7] - Diagnostics segment revenue for Q3 2025 was $356 million, reflecting a 3% increase year-over-year[16] - Revenue for Q3 2025 was $698,949,000, an increase from $684,049,000 in Q3 2024, representing a growth of 2.8%[24] - Life Sciences segment revenue for Q3 2025 was $342,822,000, slightly up from $338,800,000 in Q3 2024, indicating a growth of 1.0%[24] - Diagnostics segment revenue for Q3 2025 was $356,127,000, an increase from $345,249,000 in Q3 2024, showing a growth of 3.0%[24] - Organic revenue growth from continuing operations for the three months ended September 28, 2025, was 1%, with a 2% growth in Diagnostics and 0% in Life Sciences[31] - Projected organic revenue growth for the twelve months ending December 28, 2025, is estimated to be between 2% and 4%[33] Guidance and Future Outlook - Full year 2025 revenue guidance has been updated to a range of $2.83-$2.88 billion, with organic growth guidance reaffirmed at 2% to 4%[11] Cash Flow and Assets - Net cash provided by operating activities of continuing operations for the three months ended September 28, 2025, was $138,581,000, compared to $157,014,000 in 2024[29] - Cash, cash equivalents, and restricted cash at the end of the period were $932,575,000, a decrease from $1,230,808,000 at the end of the same period in 2024[30] - Total current assets decreased to $2,143,788,000 in September 2025 from $2,349,608,000 in December 2024, a reduction of 8.7%[26] - Cash and cash equivalents decreased to $931,386,000 in September 2025 from $1,163,396,000 in December 2024, a decline of 20.0%[26] Liabilities and Debt - Total liabilities increased to $4,763,056,000 in September 2025 from $4,725,604,000 in December 2024, an increase of 0.8%[26] - Long-term debt decreased to $2,630,693,000 in September 2025 from $3,150,476,000 in December 2024, a decrease of 16.5%[26] Shareholder Actions - The Company has authorized a new $1 billion share repurchase program[6] 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 operational performance[43] - Management believes that debt extinguishment costs and other purchase accounting adjustments do not accurately represent the performance of ongoing operations and therefore exclude them from non-GAAP measures[44] - Transformation costs related to business process modernization and global systems implementation are considered non-capitalizable and excluded from performance evaluations[45] - Significant litigation matters and environmental charges are excluded from adjusted earnings as they do not reflect ongoing operational performance[47] - The company excludes the impact of foreign currency changes and significant tax events from its non-GAAP financial measures to avoid obscuring underlying trends[47] - Non-GAAP financial measures are not considered superior to GAAP measures and should be viewed in conjunction with them for a comprehensive evaluation of financial results[49] - Management uses non-GAAP measures to evaluate operating performance, benchmark results against peers, and determine bonus payments for senior management[50]