Revvity (RVTY) To Report Earnings Tomorrow: Here Is What To Expect
Life sciences company Revvity (NYSE:RVTY) will be reporting earnings this Tuesday before the bell. Here’s what investors should know.
Revvity missed analysts’ revenue expectations last quarter, reporting revenues of $686.9 million, up 9.3% year on year. It was a softer quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and a significant 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, the market is expecting Revvity’s revenue to grow 3.9% year on year, a reversal from the 1.6% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Revvity has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Revvity’s peers in the research tools & consumables segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Avantor posted flat year-on-year revenue, beating analysts’ expectations by 4.9%, and Thermo Fisher reported revenues up 10.5%, topping estimates by 2.4%. Avantor traded up 11.6% following the results while Thermo Fisher was also up 7.9%.
Read our full analysis of Avantor’s results here and Thermo Fisher’s results here.
Investors in the research tools & consumables segment have had steady hands going into earnings, with share prices flat over the last month. Revvity’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $117.13 (compared to the current share price of $112.52).
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