
Piotr Swat/SOPA Images/LightRocket/Getty Images
Key Takeaways
- Revvity reported first-quarter earnings that topped analysts' estimates.
- Revenue rose in both of the biotech company's two segments.
- Revvity has also raised its sales forecast for the entire year.
Revvity, a biotech company, posted first-quarter earnings that exceeded analysts’ expectations.
Visible Alpha’s analyst consensus for the company’s earnings per share was $1.01, which is higher than the company’s reported earnings per share of $1.01 on revenue of $664.76 millions.
Sales in its Life Sciences division rose $3 million over the same period last year to $340 millions, while Diagnostics division revenues rose to $324 from $313 in the previous 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 expects a EPS adjusted of $4.90 – $5 for the entire year.
Shares of Revvity surged over 7% at the start of Monday’s trading, before retreating later in the day. They've lost close to 15% of their value since the start of this year.