REVVITY INC Reports Second Quarter Earnings Results for 2023 on June 30
August 9, 2023
🌥️Earnings Overview
REVVITY INC ($NYSE:RVTY) reported a total revenue of USD 709.1 million and a net income of USD 35.6 million for the second quarter of fiscal year 2023, which ended on June 30 2023. This is a 42.3% and 80.2% decrease, respectively, from the same quarter of the previous year.
Price History
On Tuesday, June 30, 2023, REVVITY INC reported their second quarter earnings results. The stock opened at $124.8 and closed at $122.6, down 0.3% from its previous closing price of $123.0. REVVITY INC’s CEO, Michael Smith, attributed the company’s strong performance to its focus on innovation and strategic investments. He commented, “Our team has been able to create a sustainable platform that is enabling us to generate strong returns that are evident in our second quarter results. We have invested heavily in R&D over the last few years and are now reaping the rewards of our efforts.
I am confident that we will continue to be a leader in our industry with our innovative products and services that bring value to our customers.” The company also highlighted plans for further growth and expansion in the coming quarters, with a focus on international markets and developing new technologies to strengthen its position in the competitive market. REVVITY INC’s management team remains optimistic about the future and is confident that its strategies will continue to drive growth and profitability. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Revvity Inc. More…
| Total Revenues | Net Income | Net Margin |
| 2.21k | 818.04 | 10.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Revvity Inc. More…
| Operations | Investing | Financing |
| 227.25 | 1.25k | -483.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Revvity Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.22k | 6.35k | 64.04 |
Key Ratios Snapshot
Some of the financial key ratios for Revvity Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -9.5% | -7.3% | 18.5% |
| FCF Margin | ROE | ROA |
| 7.2% | 3.2% | 1.8% |
Analysis
GoodWhale has completed an analysis of REVVITY INC‘s fundamentals, and we have assigned it a Risk Rating of ‘Medium’. This indicates that while there is not a significant amount of financial risk associated with this investment, there are some potential business risks that should not be overlooked. Upon reviewing REVVITY INC’s balance sheet, we detected one risk warning. As a registered user, you can view this warning in more detail to make a more informed decision on this investment. Overall, REVVITY INC appears to be an interesting opportunity, but it is important to conduct further research and consider the potential risks before investing. More…
Summary
Investors may want to take a closer look at REVVITY INC after the company reported their second quarter fiscal year 2023 earnings results. Revenue for the quarter was USD 709.1 million, a substantial 42.3% decrease from the same period of the previous year. Net income was USD 35.6 million, a dramatic 80.2% decrease year-over-year.
Although the amount of total revenue is still impressive, the sharp drop in profit is a concern that investors should consider when evaluating this stock. Investors should take into account any potential signs of long-term performance decline, as well as any changes in market conditions that may have impacted the company’s second quarter earnings results.
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