Revvity falls after cutting 2024 revenue forecast

Revvity

04/11/2024 13:06

** Shares of medical equipment maker Revvity  RVTY.N  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))