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Revvity reported first-quarter earnings that topped analysts’ estimates.
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Revenue rose in both of the biotech company’s two segments.
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Revvity also raised its sales outlook for the full year.
Biotech firm Revvity (RVTY) posted first-quarter results that topped analysts’ estimates.
The company on Monday reported adjusted earnings of $1.01 per share on revenue of $664.76 million, above the analyst consensus compiled by Visible Alpha.
Sales in its Life Sciences segment rose $3 million from the same time a year ago to $340 million, while Diagnostics division revenue rose to $324 million from $313 million in the year-ago quarter.
CEO Prahlad Singh said the company’s performance in the quarter “positions us well for the remainder of the year as we continue to adapt to an evolving macroeconomic backdrop.”
Revvity lifted its revenue outlook for 2025 slightly to a range of $2.83 billion to $2.87 billion, up from $2.80 billion to $2.85 billion previously, “to reflect recent changes in foreign currency exchange rates.” The company still expects adjusted EPS of $4.90 to $5 for the full year.
Shares of Revvity jumped over 7% in early trading Monday, before paring back gains later in the session. They’ve lost close to 15% of their value since the start of this year.
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