Key Highlights

  • Adjusted EPS of USD 1.38 topped the consensus estimate of USD 1.30, while GAAP EPS stood at USD 0.56.
  • Pro forma Revenue of USD 709.6 million topped the consensus estimate of USD 694.73 million, up 7% organically.
  • Adjusted Operating Margin widened to 28.7% from 26.1% a year earlier, with the pro forma margin at 29.4%.
  • Full year pro forma guidance calls for revenue near USD 2.86 billion and adjusted EPS of USD 5.40 to 5.45.

Revvity, Inc. (NYSE:RVTY) reported third quarter 2026 adjusted EPS from continuing operations of USD 1.38, up from USD 1.18 a year earlier and above a consensus estimate of USD 1.30. GAAP EPS from continuing operations was USD 0.56 compared with USD 0.41 a year earlier. Reported revenue was USD 728.9 million against USD 698.9 million, while pro forma revenue, which excludes the China Immunodiagnostics Business slated for divestiture, was USD 709.6 million versus USD 660.5 million, above a consensus estimate of USD 694.73 million.

Pro forma revenue growth and pro forma organic growth were both 7%. President and Chief Executive Officer Prahlad Singh said results came in meaningfully ahead of company projections, with improving end markets, a pipeline of new products and transformation benefits showing up in results.

Segment Growth and Margin Expansion

Life Sciences revenue was USD 380 million against USD 343 million, with pro forma revenue up 11% and pro forma organic revenue up 9%. Its adjusted Operating Income rose to USD 119 million from USD 101 million, lifting the adjusted margin to 31.5% from 29.5%. Diagnostics revenue was USD 349 million against USD 356 million, though pro forma revenue rose 4% and pro forma organic revenue rose 5%. Diagnostics adjusted operating income reached USD 104 million from USD 89 million, and its margin widened to 29.9% from 25.1%.

Consolidated adjusted operating income was USD 209 million versus USD 182 million, and GAAP operating income from continuing operations was USD 95 million versus USD 82 million, a margin of 13.1% against 11.7%. Restructuring and other charges of USD 0.25 per share and Amortization of Intangibles of USD 0.76 per share account for most of the gap between GAAP and adjusted EPS.

Raised Full Year Guidance on a Pro Forma Basis

The company raised its full year 2026 guidance, which is provided on a pro forma basis and excludes China Immunodiagnostics. It forecasts total revenue of approximately USD 2.86 billion, pro forma organic revenue growth of approximately 5% and pro forma adjusted EPS of USD 5.40 to 5.45.

The company agreed to divest the China Immunodiagnostics business, which represented approximately 6% of total revenue in fiscal 2025, with closing targeted by the end of 2027 subject to customary conditions and regulatory approvals. It also noted that guidance for organic growth and adjusted EPS cannot be reconciled to GAAP measures without unreasonable effort, and cited tariffs, Supply disruptions and regulatory changes among the risk factors.

Nine Month Pro Forma Results Against Full Year Guidance

Pro forma adjusted EPS of USD 3.82 for the first nine months compares with full year guidance of USD 5.40 to 5.45, which leaves USD 1.58 to 1.63 for the fourth quarter. Nine month pro forma revenue of USD 2.108 billion compares with guidance of about USD 2.86 billion, and the third quarter pro forma organic growth of 7% compares with the full year figure of approximately 5%.

Operating cash flow from continuing operations was USD 484.5 million for nine months against USD 407.0 million a year earlier. Share repurchases fell to USD 102.6 million from USD 652.5 million, and cash stood at USD 592.8 million against USD 919.9 million at the prior year end, with Long Term Debt at USD 2.634 billion against USD 2.631 billion. The company holds its Investor Day on November 13, 2026.