REVVITY, INC.

Recommendation history

• Q1 2026HoldRevvity delivered a solid Q1—3% reported organic growth, 6% pro forma growth excluding China immunodiagnostics, 24.0% pro forma adjusted operating margin and $1.04 pro forma adjusted EPS—but the full-year outlook remains only 3%–4% organic growth and $5.20–$5.30 EPS. The portfolio cleanup and margin program improve quality, yet the China divestiture is only at letter-of-intent stage, software is expected to decline about 20% in Q2, and pharma/biotech recovery remains tentative; the risk/reward is not yet a clean buy.
• Q4 2025HoldHOLD: Revvity finished 2025 well, with Q4 revenue of $772 million, 4% organic growth and adjusted EPS of $1.70, while 2026 guidance calls for 2%-3% organic growth, $2.96-$2.99 billion revenue and $5.35-$5.45 adjusted EPS. The upside case is a pharma/biotech recovery, Signals acceleration and margin expansion to 28%, but management still assumes flat instruments, continued China immunodiagnostics weakness and limited contribution from new software launches; the recovery remains prospective rather than proven.
• Q3 2025HoldHold: Q3 revenue was $699 million, up 1% organically, with adjusted EPS of $1.18 and strong 26.1% adjusted operating margin, but the underlying growth recovery remains unproven. FY2025 guidance is $2.83-$2.88 billion revenue, 2%-4% organic growth, and $4.90-$5.00 adjusted EPS; management’s preliminary 2026 framework of 2%-3% organic growth and 28% margin supports high-single-digit EPS growth, yet China Diagnostics, soft reagents, weak academic/government demand, and difficult Signals software comparisons keep the stock from being a clean buy.
• Q2 2025HoldHold: Q2 was better than feared—$720 million revenue, 3% organic growth, $1.18 adjusted EPS, and $115 million free cash flow—but management cut 2025 organic-growth guidance to 2%-4% and EPS guidance to $4.85-$4.95. The core bull case is strong Signals software momentum, stable pharma/biotech demand, and aggressive buybacks; the key tension is China immunodiagnostics, now expected to decline high teens for the year, with Q3 guidance implying only 0%-2% organic growth and $1.12-$1.14 EPS.
• Q1 2025HoldHold: Revvity delivered a solid Q1 with $665 million of revenue, 4% organic growth, 25.6% adjusted operating margin and $1.01 adjusted EPS, while reaffirming FY 2025 organic growth of 3%-5% and adjusted EPS of $4.90-$5.00. The bull case is strong Signals software growth above 20%, resilient Diagnostics and disciplined cash deployment; the tension is that U.S. academic weakness is now a 100-basis-point growth headwind and tariffs are expected to depress Q2 gross margin toward 60%.
• Q4 2024HoldRevvity finished 2024 strongly, with Q4 revenue of $730 million, 6% organic growth, 30.3% adjusted operating margin and $1.42 adjusted EPS. However, 2025 guidance is cautious: 3%-5% organic growth, $2.80-$2.85 billion revenue, $4.90-$5.00 adjusted EPS and only 20-40 bps of margin expansion; the recovery remains concentrated in reagents, Diagnostics and software while instruments remain weak. The upside case is a faster pharma/biotech recovery, but absent clearer instrumentation demand or a guide raise, the risk/reward is balanced.
• Q3 2024HoldHold: Revvity delivered $684 million of Q3 revenue, 2% organic growth, 28.3% adjusted operating margin and $1.28 adjusted EPS, while Diagnostics grew 5% organically and Life Sciences declined 3%. Execution and cash flow remain strong, but the company cut 2024 organic-growth guidance to 0%-1% and Q4 to 3%-5% because Life Sciences instrumentation—especially in China—remains weak; the recovery timing is still unproven.