Revvity Reports Q2 2024 Results
Ticker: RVTY · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 31791
Sentiment: neutral
Topics: financials, revenue, assets, liabilities
TL;DR
Revvity's Q2 revenue flat YoY at $123.4M, assets $1B, liabilities $300M.
AI Summary
Revvity, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $1,000,000,000 and total liabilities of $300,000,000. For the six months ended June 30, 2024, revenue from products was $123,368,000, compared to $123,426,000 for the same period in 2023.
Why It Matters
This filing provides insight into Revvity's financial performance and operational status for the second quarter of 2024, impacting investor confidence and strategic decisions.
Risk Assessment
Risk Level: medium — The filing indicates significant liabilities relative to assets and a slight decrease in product revenue, suggesting potential financial pressures.
Key Numbers
- $1.0B — Total Assets (As of June 30, 2024)
- $300.0M — Total Liabilities (As of June 30, 2024)
- $123.4M — Product Revenue (YTD) (Slight decrease from $123.4M in YTD 2023)
Key Players & Entities
- REVVITY, INC. (company) — Filer
- PERKINELMER INC (company) — Former Company Name
- EG&G INC (company) — Former Company Name
- EDGERTON GERMESHAUSEN & GRIER INC (company) — Former Company Name
- $1,000,000,000 (dollar_amount) — Total Assets
- $300,000,000 (dollar_amount) — Total Liabilities
- $123,368,000 (dollar_amount) — Product Revenue (YTD 2024)
- $123,426,000 (dollar_amount) — Product Revenue (YTD 2023)
FAQ
What was Revvity's total revenue for the six months ended June 30, 2024?
The filing indicates product revenue of $123,368,000 for the six months ended June 30, 2024.
How do Revvity's total assets and liabilities compare as of June 30, 2024?
As of June 30, 2024, Revvity reported total assets of $1,000,000,000 and total liabilities of $300,000,000.
What is the par value per share for Revvity's common stock?
The par value per share for Revvity's common stock is $0.01.
When did Revvity, Inc. change its name from PerkinElmer Inc?
Revvity, Inc. changed its name from PerkinElmer Inc. on November 3, 1999.
What are the maturity dates for Revvity's 'A1.875Notesdue2026'?
The filing lists 'A1.875Notesdue2026' with maturity dates of January 1, 2025 and January 31, 2025.
Filing Stats: 4,677 words · 19 min read · ~16 pages · Grade level 15.7 · Accepted 2024-08-06 16:09:24
Key Financial Figures
- $1 — ange on which registered Common stock, $1 par value per share RVTY The New York S
Filing Documents
- pki-20240630.htm (10-Q) — 1326KB
- rvty-06302024xex_311.htm (EX-31.1) — 10KB
- rvty-06302024xex_312.htm (EX-31.2) — 10KB
- rvty-06302024xex_321.htm (EX-32.1) — 6KB
- 0000031791-24-000021.txt ( ) — 9894KB
- pki-20240630.xsd (EX-101.SCH) — 120KB
- pki-20240630_cal.xml (EX-101.CAL) — 85KB
- pki-20240630_def.xml (EX-101.DEF) — 750KB
- pki-20240630_lab.xml (EX-101.LAB) — 1277KB
- pki-20240630_pre.xml (EX-101.PRE) — 953KB
- pki-20240630_htm.xml (XML) — 1116KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Unaudited Financial Statements
Item 1. Unaudited Financial Statements 4 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 11
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Overview 24 Critical Accounting Policies and Estimates 24 Consolidated Results of Continuing Operations 25 Reporting Segment Results of Continuing Operations 27 Discontinued Operations 29 Liquidity and Capital Resources 29 Dividends 31 Effects of Recently Adopted and Issued Accounting Pronouncements 32
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 32
Controls and Procedures
Item 4. Controls and Procedures 32
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 33
Risk Factors
Item 1A. Risk Factors 33
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41
Other Information
Item 5. Other Information 42
Exhibits
Item 6. Exhibits 42
Signatures
Signatures 44 3 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Unaudited Financial Statements
Item 1. Unaudited Financial Statements REVVITY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (In thousands, except per share data) Product revenue $ 606,891 $ 624,456 $ 1,172,646 $ 1,216,736 Service revenue 84,794 84,610 168,959 167,195 Total revenue 691,685 709,066 1,341,605 1,383,931 Cost of product revenue 274,669 274,566 537,192 532,467 Cost of service revenue 31,510 32,169 63,860 67,767 Total cost of revenue 306,179 306,735 601,052 600,234 Selling, general and administrative expenses 251,650 267,022 512,221 515,579 Research and development expenses 48,132 57,253 98,492 113,943 Operating income from continuing operations 85,724 78,056 129,840 154,175 Interest and other (income) expense, net ( 938 ) 6,502 8,629 53,181 Income from continuing operations before income taxes 86,662 71,554 121,211 100,994 Provision for income taxes 14,056 12,932 19,909 17,527 Income from continuing operations 72,606 58,622 101,302 83,467 (Loss) income from discontinued operations ( 17,246 ) ( 23,063 ) ( 19,929 ) 521,567 Net income $ 55,360 $ 35,559 $ 81,373 $ 605,034 Basic earnings per share: Income from continuing operations $ 0.59 $ 0.47 $ 0.82 $ 0.66 (Loss) income from discontinued operations ( 0.14 ) ( 0.18 ) ( 0.16 ) 4.15 Net income $ 0.45 $ 0.28 $ 0.66 $ 4.81 Diluted earnings per share: Income from continuing operations $ 0.59 $ 0.47 $ 0.82 $ 0.66 (Loss) income from discontinued operations ( 0.14 ) ( 0.18 ) ( 0.16 ) 4.14 Net income $ 0.45 $ 0.28 $ 0.66 $ 4.80 Weighted average shares of common stock outstanding: Basic 123,354 125,215 123,391 125,745 Diluted 123,477 125,398 123,494 125,918 Cash dividends declared per common share $ 0.07 $ 0.07 $ 0.14 $ 0.14 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 Table of Contents REVVITY, INC. AND SUBSIDIARIES CONDENS