29.04.2024 12:42:21 - dpa-AFX: ROUNDUP: Revvity, Inc. Q1 Profit Down, But Beats Street; s Annual Outlook
WASHINGTON (dpa-AFX) - (Adds Outlook)
Looking ahead, for the full year, Revvity, Inc. (RVTY) has reaffirmed its
earnings outlook in line with estimates, and revised down revenue expectations.
The company still expects adjusted income per share of $4.55 to $4.75, in line
with analysts' estimate of $4.65 per share. To reflect recent changes in foreign
currency exchange rates, the biotech firm now expects annual revenue of $2.76
billion to $2.82 billion versus its previous outlook of $2.79 billion to $2.85
billion. Analysts, on average, expect the firm to report annual revenue of $2.82
billion.
Q1 Results:
Revvity released a profit for first quarter that decreased from the same period
last year but beat the Street estimates.
The company's bottom line came in at $26.013 million, or $0.21 per share. This
compares with $569.475 million, or $4.50 per share, in last year's first
quarter.
Excluding items, Revvity, Inc. reported adjusted earnings of $0.98 per share for
the period.
Analysts on average had expected the company to earn $0.93 per share, according
to figures compiled by Thomson Reuters. Analysts' estimates typically exclude
special items.
The company's revenue for the quarter fell 3.7% to $649.920 million from
$674.865 million last year.
Revvity, Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $26.013 Mln. vs. $569.475 Mln. last year.
-EPS (Q1): $0.21 vs. $4.50 last year.
-Revenue (Q1): $649.920 Mln vs. $674.865 Mln last year.
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