Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Revvity (NYSERVTY) and the best and worst performers in the research tools & consumables industry.
Over the past six months, Revvity’s shares (currently trading at $111) have posted a disappointing 8.5% loss, well below the S&P 500’s 5.1% gain. This was partly due to its softer quarterly results and might have investors contemplating their next move.
Curious about the top performers within the S&P500 index in the middle of the day on Monday? Dive into the list of today's session's top gainers and losers for a comprehensive overview.
Life sciences company Revvity (NYSERVTY) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 4.8% year on year to $729.4 million. On the other hand, the company’s full-year revenue guidance of $2.83 billion at the midpoint came in 1.3% below analysts’ estimates. Its non-GAAP profit of $1.42 per share was 3.1% above analysts’ consensus estimates.
BofA upgrades Danaher and Revvity, predicting a mixed but improving outlook for life sciences tools in fiscal year 2025 amid ongoing market challenges.
Wall Street opened higher at the start of a data-heavy week, with traders adopting an optimistic tone ahead of crucial earnings reports and economic events.
Revvity reported Q2 sales of $691.69 million, surpassing estimates, with adjusted EPS of $1.22. Life Sciences revenue fell 7%, while Diagnostics sales rose 1%. Updated 2024 guidance includes sales of $2.77-$2.79 billion and adjusted EPS of $4.70-$4.80.
U.S. stocks kicked off the week on a positive note, with all major averages edging higher in anticipation of significant events including earnings reports from tech giants like Amazon.com Inc. (NASDAQAMZN) on Tuesday and Apple Inc.
