Shares of life sciences company Revvity (NYSE:RVTY)
fell 7.6% in the afternoon session after the company lowered its full-year profit forecast, which overshadowed its second-quarter earnings and revenue beat. Despite reporting second-quarter revenue of $720 million and an adjusted earnings per share (EPS) of $1.18, both of which surpassed analyst expectations, investors focused on the weaker outlook. Revvity trimmed its full-year adjusted EPS guidance to a range of $4.85 to $4.95. This revision was driven by multiple headwinds, including a double-digit decline in its diagnostics revenue from China, a key international market. The company also faced shrinking profitability, as both its adjusted operating and gross margins fell compared to the previous year. Management also pointed to potential costs related to tariffs.
Once again, there is no significant economic news on a Monday, so let’s take a look at the important data I am especially interested in later this week.
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