Life sciences company Revvity (NYSE: RVTY) will be announcing earnings results this Monday before the bell. Here’s what you need to know.
Revvity beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $720.3 million, up 4.1% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates but a slight miss of analysts’ full-year EPS guidance estimates.
Is Revvity a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Revvity’s revenue to grow 2.4% year on year to $700.7 million, in line with the 2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.14 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Revvity has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.3% on average.
Looking at Revvity’s peers in the life sciences tools & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Thermo Fisher delivered year-on-year revenue growth of 4.9%, beating analysts’ expectations by 1.9%, and Danaher reported revenues up 4.4%, topping estimates by 0.6%. Thermo Fisher traded up 2.6% following the results while Danaher was also up 4.7%.
Read our full analysis of Thermo Fisher’s results here and Danaher’s results here.
There has been positive sentiment among investors in the life sciences tools & services segment, with share prices up 7.7% on average over the last month. Revvity is up 20% during the same time and is heading into earnings with an average analyst price target of $112.73 (compared to the current share price of $100.86).
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