Life sciences company Revvity (NYSE: RVTY) will be reporting earnings this Tuesday before market hours. Here’s what you need to know.
Revvity beat analysts’ revenue expectations last quarter, reporting revenues of $772.1 million, up 5.8% year on year. It was a strong quarter for the company, with full-year revenue guidance slightly topping analysts’ expectations and a narrow beat of analysts’ organic revenue 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 6.1% year on year, improving from the 2.3% increase 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 to stay the course heading into earnings. Revvity rarely misses Wall Street’s revenue estimates.
Looking at Revvity’s peers in the life sciences tools & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Avantor posted flat year-on-year revenue, beating analysts’ expectations by 2.7%, and Thermo Fisher reported revenues up 6.2%, topping estimates by 1.5%. Avantor traded up 3.1% following the results while Thermo Fisher was down 8.6%.
Read our full analysis of Avantor’s results here and Thermo Fisher’s results here.
There has been positive sentiment among investors in the life sciences tools & services segment, with share prices up 6% on average over the last month. Revvity is down 2.4% during the same time and is heading into earnings with an average analyst price target of $113.93 (compared to the current share price of $86.18).
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