Life Science Firm Revvity Lifts Annual Profit Forecast On Strong Q2 Performance
Portfolio Pulse from Vandana Singh
Revvity Inc. (NYSE:RVTY) reported strong Q2 performance, beating both sales and EPS consensus estimates. The company raised its annual profit forecast, reflecting positive changes in foreign currency exchange rates and organic revenue growth.
July 29, 2024 | 2:38 pm
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Revvity Inc. reported Q2 sales of $691.69 million, beating the consensus of $690.36 million. Adjusted EPS was $1.22, surpassing the consensus of $1.12. The company raised its fiscal year 2024 sales guidance to $2.77 billion—$2.79 billion and adjusted EPS to $4.70-$4.80. RVTY stock is up 2.78% to $118.46.
Revvity's strong Q2 performance and raised annual profit forecast are likely to positively impact the stock price in the short term. The company beat both sales and EPS estimates and provided an optimistic outlook for the fiscal year 2024, which has already led to a 2.78% increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100