Revvity aims to expand the FDA-cleared menu for the EUROIMMUN family of ChLIA automation solutions to serve a wider patient pool.
RVTY's strong product portfolio raises optimism about the stock.
Revvity, Inc. is a leader in life sciences and diagnostics with diversified revenue streams and a strong balance sheet, making it a low-risk biopharma play. The company's recurring revenue base (80%) from consumables, services, and software ensures predictable income and financial stability. The company has a global footprint and an estimated TAM exceeding $60 billion, showcasing its significant market opportunity.
Revvity (RVTY) reported earnings 30 days ago. What's next for the stock?
Revvity, Inc. RVTY reported better-than-expected third-quarter earnings on Monday.
Revvity's third-quarter results showcase strong growth in Diagnostics business, along with a decline in Life Sciences segmental sales.
Revitty Incorporated (NYSE:RVTY ) Q3 2024 Earnings Conference Call November 4, 2024 8:00 AM ET Company Participants Prahlad Singh - President, Chief Executive Officer Max Krakowiak - Senior Vice President, Chief Financial Officer Steve Willoughby - Head of Investor Relations Conference Call Participants Mike Ryskin - Bank of America Vijay Kumar - Evercore ISI Dan Leonard - UBS Andrew Cooper - Raymond James Luke Sergott - Barclays Dan Brennan - TD Cowen Puneet Souda - Leerink Partners Dan Arias - Stifel Matt Sykes - Goldman Sachs Brandon Couillard - Wells Fargo Patrick Donnelly - Citi Jack Meehan - Nephron Research Operator Hello everyone and welcome to Revitty's third quarter 2024 earnings conference call. My name is Lydia and I will be your Operator today.
Although the revenue and EPS for Revvity (RVTY) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Revvity (RVTY) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.13 per share. This compares to earnings of $1.18 per share a year ago.
Revvity cut its 2024 revenue forecast as reduced biotech spending and a strong dollar weigh on demand for its tools and services used in drug development.
RVTY third-quarter results are likely to reflect decent performance in the Diagnostics segment, while the Life Sciences segment is likely to face continued challenges in China.
Revvity (RVTY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.