Revvity (RVTY) Reports Disappointing Q3 Earnings

MedTech company Revvity (RVTY) reported Q3 2023 adjusted earnings per share (EPS) of $1.18, missing estimates by 0.8% and declining 2.5% from the previous year. Revenues of $671 million were down 5.8% YoY and missed estimates by 3.1%. The company lowered its 2023 adjusted EPS guidance to $4.53-$4.57 from $4.70-$4.90 and revenue guidance to $2.72-$2.74 billion from $2.80-$2.85 billion. Revvity's stock carries a Zacks Rank #4 (Sell).