{"id":78684,"date":"2023-10-30T21:39:34","date_gmt":"2023-10-31T01:39:34","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/revvitys-stock-tumbles-to-lead-the-sp-500-losers-after-earnings-miss-lowered-outlook\/"},"modified":"2023-10-30T21:39:36","modified_gmt":"2023-10-31T01:39:36","slug":"revvitys-stock-tumbles-to-lead-the-sp-500-losers-after-earnings-miss-lowered-outlook","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78684","title":{"rendered":"Revvity\u2019s stock tumbles to lead the S&P 500 losers after earnings miss, lowered outlook"},"content":{"rendered":"
\n

Shares of Revvity Inc.
\n RVTY,
\n -16.13%<\/bg-quote>
\n tumbled 14.2% toward a 3 1\/2-year low Monday, enough to pace the S&P 500\u2019s
\n SPX,
\n +1.20%<\/bg-quote>
\n premarket decliners, after the health sciences company missed third-quarter earnings expectations and cut its full-year outlook citing \u201cincreased market uncertainty.\u201d The company lowered its guidance ranges for 2023 adjusted earnings per share of $4.53 to $4.57 from $4.70 to $4.90 and for revenue to $2.72 billion to $2.74 billion from $2.80 billion to $2.85 billion. For the third quarter, the company reported net income that fell to $9.5 million, or 8 cents a share, from $85.3 million, or 67 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted EPS of $1.18 came up short of the FactSet consensus of $1.19. Revenue fell 5.8% to $670.7 million to miss the FactSet consensus of $695.4 million. \u201cWe executed well during the third quarter in an increasingly challenging end market environment,\u201d said Chief Executive Prahlad Singh. The stock, which is on track to open at the lowest price seen since April 2020, has dropped 22.4% over the past three months through Friday while the S&P 500 has shed 10.1%.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Revvity Inc. RVTY, -16.13% tumbled 14.2% toward a 3 1\/2-year low Monday, enough to pace the S&P 500\u2019s SPX, +1.20% premarket decliners, after the health sciences company missed third-quarter earnings expectations and cut its full-year outlook citing \u201cincreased market uncertainty.\u201d The company lowered its guidance ranges for 2023 adjusted earnings per share of […]<\/p>\n","protected":false},"author":1,"featured_media":78672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-78684","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRevvity\u2019s stock tumbles to lead the S&P 500 losers after earnings miss, lowered outlook | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Revvity Inc. RVTY, -16.13% tumbled 14.2% toward a 3 1\/2-year low Monday, enough to pace the S&P 500\u2019s SPX, +1.20% premarket decliners, after\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=78684\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revvity\u2019s stock tumbles to lead the S&P 500 losers after earnings miss, lowered outlook | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Shares of Revvity Inc. 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