Revvity(RVTY) ZACKS·2024-07-29 17:21Revenue Details - Revvity operates under two segments: Life Sciences and Diagnostics [1] Financial Performance - Adjusted operating income for Revvity was $112.4 million, reflecting a 12% decrease from the prior-year quarter [2] - Revenues for Revvity totaled $691.7 million, down 2% year over year and 1% organically, missing the Zacks Consensus Estimate by 0.4% [16] - Revenues from the Life Sciences segment were $378 million, up 1.4% year over year, with an organic increase of 3% [8] - Revenues from the Diagnostics segment were $313.8 million, indicating a 6.7% decrease from the year-ago quarter, with a 6% organic decline [23] - Adjusted operating income for the Diagnostics segment was $97.9 million, up 14.9% from the year-ago quarter [24] - Selling, general and administrative expenses totaled $251.7 million, down 5.8% year over year, while research and development expenses were $48.1 million, down 15.9% [17] Cash Position - At the end of Q2 2024, Revvity had cash and cash equivalents of $1.95 billion, an increase from $1.70 billion at the end of the prior quarter [4] - Net cash provided by operating activities was $158.6 million, compared to a net cash used of $135.3 million in the year-ago quarter [18] 2024 Guidance - For 2024, Revvity expects adjusted EPS in the range of $4.70-$4.80 and revenues between $2.77-$2.79 billion, with the Zacks Consensus Estimate for EPS at $4.64 and revenues at $2.80 billion [12] Market Performance - Revvity's shares have gained 3.6% over the past six months, compared to the industry's growth of 6.7% and the S&P 500 Index's increase of 10.9% [19] - Revvity currently holds a Zacks Rank of 4 (Sell) [13]