Revvity — Q3 2026 Earnings Summary

Financial Performance:

• Reported revenue for the quarter ended October 4, 2026, was $729 million, up from $699 million in the same period last year; pro forma revenue was $710 million, representing 7% growth.
• Pro forma organic revenue growth was 7% for the quarter.
• GAAP earnings per share (EPS) from continuing operations were $0.56, compared to $0.41 in the prior year period.
• Adjusted EPS from continuing operations was $1.38, compared to $1.18 in the prior year period.
• GAAP operating income from continuing operations was $95 million (13.1% margin), compared to $82 million (11.7% margin) in the prior year.
• Adjusted operating income was $209 million (28.7% margin), compared to $182 million (26.1% margin) in the prior year.
• Pro forma GAAP EPS from continuing operations was $0.60, compared to $0.40 in the prior year.
• Pro forma adjusted EPS from continuing operations was $1.37, compared to $1.13 in the prior year.
• Pro forma operating income was $102 million (14.3% margin), compared to $77 million (11.7% margin) in the prior year.
• Pro forma adjusted operating income was $209 million (29.4% margin), compared to $172 million (26.0% margin) in the prior year.
• Net cash provided by operating activities for the quarter was $166.7 million, compared to $138.5 million in the prior year.
• Capital expenditures for the quarter were $14.3 million, compared to $18.5 million in the prior year.
• Cash and cash equivalents at period end were $592.8 million, down from $919.9 million at the end of the previous fiscal year.
• Total long-term debt was $2.63 billion, compared to $2.63 billion at the end of the previous fiscal year.

Guidance and Future Outlook:

• The company raised its full-year 2026 guidance.
• Full-year 2026 pro forma revenue is forecast at approximately $2.86 billion.
• Full-year 2026 pro forma organic revenue growth is forecast at approximately 5%.
• Full-year 2026 pro forma adjusted EPS is forecast between $5.40 and $5.45.
• Guidance for pro forma organic revenue growth and pro forma adjusted EPS is provided on a non-GAAP basis.

Business Segments and Product Lines:

• Life Sciences segment revenue was $380 million, up from $343 million in the prior year; pro forma revenue increased 11% with 9% pro forma organic growth.
• Life Sciences adjusted operating income was $119 million (31.5% margin), compared to $101 million (29.5% margin) in the prior year.
• Diagnostics segment revenue was $349 million, down from $356 million in the prior year; pro forma revenue increased 4% with 5% pro forma organic growth.
• Diagnostics adjusted operating income was $104 million (29.9% margin), compared to $89 million (25.1% margin) in the prior year.

Market and Competitive Landscape:

• Management noted that end market conditions are continuing to improve.
• The company cited a strong pipeline of innovation and the benefits of its transformation increasingly evident in results.
• Revvity serves customers across pharmaceutical and biotech, diagnostic labs, academia, and governments in more than 160 countries.

Risks and Challenges:

• The company is divesting its Immunodiagnostics business in China ("China IDX"), which represented approximately 6% of fiscal 2025 revenue; the transaction is expected to close by the end of 2027 subject to regulatory approvals.
• Forward-looking statements cite risks including market declines, global economic and political fluctuations, tariff increases, failure to introduce new products timely, and difficulties in executing acquisitions or divestitures.
• Risks also include supply chain disruptions, raw material shortages, IT system disruptions, cybercrime, and uncertainties related to AI development.
• Regulatory compliance risks include healthcare industry regulations, data privacy laws, and government regulations.
• Financial risks include stock price fluctuations, restrictions in credit agreements, and the potential reduction or elimination of dividends.

Management Commentary and Tone:

• Prahlad Singh, President and CEO, stated that the exceptional third-quarter performance demonstrates momentum building across Revvity, driven by broad-based growth and strong execution.
• Management expressed that Revvity is "extremely well positioned to capitalize on the opportunities ahead."

Other Key Points:

• An Investor Day is scheduled for November 13, 2026, to discuss key business initiatives, operational achievements, and financial outlook.
• A webcast to discuss results and outlook was held on November 3, 2026.
• The company reported payments on senior unsecured notes of $571.2 million for the nine months ended October 4, 2026.
• The company purchased $102.6 million of common stock for the nine months ended October 4, 2026.
• Dividends paid were $23.5 million for the nine months ended October 4, 2026.
• The company is part of the S&P 500 index.