Revvity beats quarterly estimates on steady demand for medical equipment

Reuters

Mon, Apr 28, 2025, 4:32 AM 2 min read

(Reuters) -Revvity reported first-quarter results supra Wall Street estimates and maintained its full-year nett forecast connected Monday, helped by dependable request from biotech clients for aesculapian instrumentality utilized for cause research.

The aesculapian instrumentality maker, which generates implicit fractional its income extracurricular the United States, said revenues volition payment owed to a weaker dollar and somewhat raised its full-year income outlook.

While maintaining its yearly nett forecast of $4.90 to $5 per stock connected an adjusted basis, the institution present anticipates 2025 gross to beryllium betwixt $2.83 cardinal and $2.87 billion, compared to the erstwhile projection of $2.80 cardinal to $2.85 billion.

Revvity's "clean beat" leaves "very small to quibble with" successful this macroenvironment, said Bernstein expert Eve Burstein.

Investors person said the biotech sector's backing crunch, which was expected to amended this year, could beryllium prolonged owed to argumentation uncertainty from the Trump administration.

Shares of Revvity person fallen 15.5% truthful acold this year.

"Our first-quarter show positions america good for the remainder of the twelvemonth arsenic we proceed to accommodate to an evolving macroeconomic backdrop," said CEO Prahlad Singh.

Larger peers Thermo Fisher Scientific and Danaher, who besides posted beardown quarterly results past week, had warned of a imaginable deed to results owed to a looming menace of tariffs and different uncertainty.

The Massachusetts-based Revvity earned a quarterly adjusted nett of $1.01 per share, supra analysts' estimates of 95 cents per share, according to information compiled by LSEG. It reported first-quarter gross of $664.8 million, somewhat supra estimates of $661.2 million.

The company's beingness sciences unit, which provides reagents and instruments for cause find and development, brought successful gross of $340.4 million, compared with estimates of $332 million.

(Reporting by Siddhi Mahatole successful Bengaluru; Editing by Vijay Kishore)