BUZZ-Revvity falls after cutting 2024 revenue forecast

Reuters
04 Nov 2024

** 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))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10