Revvity Raises FY24 Adjusted EPS Guidance After Beating 2Q Earnings, Sales Expectations

Dow Jones07-29

Revvity on Monday updated its full year guidance after reporting better-than-expected earnings for the second quarter.

U.S.-listed shares of the company rose 6% in premarket trading.

The company's reported net income for the second quarter of $55.4 million, or 45 cents a share, from $35.5 million, or 0.28 cents a share, the same period a year ago.

Adjusted earnings came in at $1.22 compared with market expectations of $1.12 taken from FactSet.

Revenue fell 2% to $691.7 million, ahead of market expectations of $690.3 million according to FactSet.

Looking ahead, the group expects revenue for 2024 guidance in the range of $2.77 billion to $2.79 billion, versus the previously expected range of $2.76 billion to $2.82 billion.

The company is raised its adjusted EPS guidance to a range of $4.70 to $4.80 from $4.55 to $4.75.

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