REVVITY INC Reports Second Quarter FY2023 Earnings Results on August 1 2023
August 17, 2023
🌥️Earnings Overview
REVVITY INC ($NYSE:RVTY) reported their second quarter FY2023 earnings results on August 1 2023, ending June 30 2023. Total revenue for the quarter was USD 709.1 million, which was a decrease of 42.3% compared to the same period in the previous year. Net income for the quarter decreased by 80.2% year over year to USD 35.6 million.
Price History
At the Markets open on Tuesday, the stock opened at $124.8, but by the close of market, it had dropped 0.3% to a closing price of $122.6 from its prior closing price of $123.0. The stock had seen a mild upswing over the past few weeks and overall, its performance has been satisfactory, considering the currently challenging economic circumstances. REVVITY INC is engaged in providing services related to data analytics, cloud computing, and artificial intelligence. This is testament to the resiliency shown by the company despite the ongoing pandemic which continues to have an impact on businesses across all industries.
Overall, REVVITY INC’s second quarter FY2023 earnings results have been encouraging and bode well for the company’s future. As such, investors can remain confident in the company’s ability to deliver consistent financial returns throughout the remainder of FY2023 and beyond. 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 |
| 2.84k | 818.04 | 9.7% |
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 | 63.29 |
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 |
| -1.6% | -5.1% | 14.8% |
| FCF Margin | ROE | ROA |
| 5.4% | 3.3% | 1.8% |
Analysis
GoodWhale has conducted an analysis of REVVITY INC‘s fundamentals and the results show that it is a medium risk investment in terms of financial and business aspects. We have detected one risk warning in the company’s balance sheet that investors should be aware of. Our analysis further reveals that REVVITY INC has a strong potential for growth and profitability in the near future. If you are interested in learning more about the company’s financial status, register with us to get detailed insights. More…
Summary
REVVITY INC reported their second quarter FY2023 earnings on August 1 2023, showing total revenue of USD 709.1 million, a 42.3% decrease compared to the same period from last year. Net income for the quarter was USD 35.6 million, representing a year-over-year decline of 80.2%. These results may be concerning for investors, as the company has experienced significant year-over-year drops in both revenue and income. Despite this, REVVITY INC is still positioned as a strong player in the industry and investors should keep an eye on the company’s future performance to determine if the current downturn is short-lived or indicative of a larger problem.
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