Life sciences company Revvity (NYSE: RVTY) will be reporting results this Monday morning. Here’s what you need to know.
Revvity beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $664.8 million, up 2.3% year on year. It was a satisfactory quarter for the company, with a decent beat of analysts’ EPS estimates.
Is Revvity a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Revvity’s revenue to grow 3% year on year to $712.3 million, a reversal from the 2.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.14 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 5 downward revisions over the last 30 days (we track 14 analysts). Revvity has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.2% on average.
Looking at Revvity’s peers in the life sciences tools & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Thermo Fisher delivered year-on-year revenue growth of 3%, beating analysts’ expectations by 1.6%, and Danaher reported revenues up 3.4%, topping estimates by 1.7%. Thermo Fisher traded up 11.3% following the results while Danaher was also up 5.3%.
Read our full analysis of Thermo Fisher’s results here and Danaher’s results here.
Investors in the life sciences tools & services segment have had steady hands going into earnings, with share prices flat over the last month. Revvity is up 6.2% during the same time and is heading into earnings with an average analyst price target of $121 (compared to the current share price of $103.91).
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