BUZZ-Revvity falls after cutting 2024 revenue forecast

Reuters
2024-11-04

** Shares of medical equipment maker Revvity fall ~1.6% to $119.05 premarket

** The company expects annual revenue between $2.75 bln and $2.77 bln, down from its previous forecast of $2.77 bln to $2.79 bln

** Q3 revenue from RVTY's Life Sciences segment was $301 mln, missing analysts' expectation of $306.15 mln - data compiled by LSEG

** It reports Q3 adjusted profit of $1.28/share vs analysts' average estimate of $1.13/share

** Favorable margins and lower tax rate enabled the profit beat - TD Cowen analysts

** Up to last close, stock up 10.7% YTD

(Reporting by Christy Santhosh)

((Christy.Santhosh@thomsonreuters.com))

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