Revvity raises annual profit, revenue forecasts on strong diagnostics demand

Revvity

04/08/2026 11:51

Aug 4 (Reuters) - Medical equipment maker Revvity RVTY.N raised its annual profit and revenue forecasts on Tuesday, after topping Wall Street estimates for the second quarter helped by improving demand for its drug-development tools and diagnostic testing products.
The upbeat outlook adds to signs of a recovery in the life sciences tools market as biotech and pharmaceutical companies increase spending on research and manufacturing following a prolonged post-pandemic downturn, with peer Thermo Fisher Scientific TMO.N recently reporting strengthening customer activity. 
Revvity earned a quarterly adjusted profit per share of $1.41, beating analysts' estimates of $1.22, according to LSEG data.
Its revenue for the quarter came in at $730 million, compared with estimates of $709.11 million. 
"As we enter the second half of the year, given the clear momentum in our end markets, we are utilizing a portion of recently received tariff refunds to increase investments across the business, capitalize on emerging opportunities, and support future growth," Revvity CEO Prahlad Singh said.
The company now expects annual sales of $2.83 billion to $2.86 billion, compared with its previous forecast of $2.81 billion to $2.84 billion.
Adjusted profit per share for the year is forecast between $5.30 and $5.40, compared with its prior view of $5.20 to $5.30. Analysts expect an annual adjusted profit of $5.27 per share.
Revvity's diagnostics business, which provides testing tools for processes such as genetic screening, rose 11% from a year earlier to $371 million in the second quarter.
Quarterly revenue in its life sciences unit, which provides reagents and instruments for drug discovery and development, fell 3% from a year earlier to $359 million.
Revvity also entered into an agreement to sell its immunodiagnostics business in China citing ongoing weakness in the country's diagnostics market. It expects the transaction to be completed by the end of 2027.

(Reporting by Siddhi Mahatole in Bengaluru; Editing by Jonathan Ananda)
((siddhi.mahatole@thomsonreuters.com;))