Revvity Reports Strong Q3 Growth and New Share Buyback

Revvity, Inc. ( (RVTY) ) has released its Q3 earnings. Here is a breakdown of the information Revvity, Inc. presented to its investors.

Revvity, Inc., a prominent player in the healthcare sector, specializes in offering comprehensive health science solutions and technologies, with a strong focus on advancing healthcare innovations worldwide. In their latest earnings report for the third quarter of 2024, Revvity reported a revenue increase to $684 million, marking a 2% growth compared to the previous year. The company also achieved a significant rise in GAAP earnings per share to $0.77, up from $0.08 in the same period last year. Additionally, Revvity has raised its full-year 2024 adjusted EPS guidance and announced a new $1 billion share repurchase program.

Key financial highlights include an adjusted earnings per share from continuing operations of $1.28, showing an improvement from $1.18 a year ago. The Diagnostics segment experienced a 6% increase in revenue, contributing to the overall growth, while Life Sciences saw a slight decline in revenue by 2%. Revvity’s operating income from continuing operations increased to $98 million, reflecting improved operational efficiency.

Strategically, Revvity is focusing on maximizing shareholder value with its new share repurchase program, which reflects confidence in its financial stability and growth prospects. The upcoming Investor Day on November 21st is expected to provide further insights into the company’s strategic direction and future opportunities.

Looking ahead, Revvity remains optimistic about its ability to continue delivering strong performance and innovative solutions in the healthcare industry. The company is committed to leveraging its expertise and partnerships to drive meaningful advancements in science and healthcare globally.