Revvity Now Sees FY23 Results Below View; To Buy Back $600 Mln Of Shares

(RTTNews) - While announcing its first-quarter results, Revvity Inc. (PKI) said that it now expects adjusted earnings per share to be in the range of $4.85 - $5.05 and total revenue of $2.90 billion - $2.94 billion for the full year 2023. Analysts polled by Thomson Reuters expect the company to report earnings of $5.16 per share and revenues of $3.15 billion for fiscal year 2023. Analysts' estimates typically exclude special items.

The company said in February that it expected adjusted earnings per share to be $5.05 and total revenue from continuing operations of $2.94 billion.

In Thursday pre-market trade, PKI was trading at $124.17 down $0.38 or 0.31%.

The company said that its stock ticker will change from PKI to RVTY with the beginning of trading on May 16, 2023.

The company's board authorized the company to repurchase $600 million of its shares.

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