In the third quarter, Revvity, Inc. (RVTY) reported an increase in profits that surpassed both their previous year's performance and Wall Street expectations. The firm announced a net income of $94.37 million, translating to earnings of $0.77 per share. This is a significant rise from the $9.50 million, or $0.08 per share, reported in the same quarter the previous year.
When excluding certain items, Revvity, Inc. recorded an adjusted earnings figure of $1.28 per share for the quarter. On average, analysts predicted earnings of $1.13 per share, based on estimates compiled by Thomson Reuters, which generally disregard special items.
Revenue for the period showed a 2.0% increase, reaching $684.05 million compared to $670.74 million in the previous year.
A glance at Revvity, Inc.'s GAAP earnings reveals the following for Q3:
- Earnings were reported at $94.37 million, a significant improvement from $9.50 million the previous year.
- Earnings per share (EPS) reached $0.77, up from $0.08 last year.
- Revenue increased to $684.05 million from $670.74 million.
Looking ahead, the company has provided full-year guidance with an EPS projection in the range of $4.83 to $4.87, and anticipated revenues between $2.75 billion and $2.77 billion.
