Company | Revvity, Inc. |
Ticker | RVTY US |
Upcoming Earnings Date | August 4, 2026 |
Reporting Period | Q2 2026 (quarter ended June 28, 2026) |
Preparation Date | August 3, 2026 |
Sector ETF Benchmark | XLV (Health Care Select Sector SPDR) |
Key Takeaway: The setup favors a beat on organic growth and EPS — consensus sits at the low end of management's own Q2 guidance range, peer data from TMO and DHR confirm the pharma/biotech reagent recovery is real and broadening, and the biggest known headwind (software down ~20%) is already in the numbers. The single biggest swing factor is whether Diagnostics (immunodiagnostics + reproductive health) can sustain the mid-to-high single-digit trajectory management guided, which would drive the most meaningful upside to the reported organic growth figure.
Heading into the Q2 2026 print, the bar for Revvity looks manageable: consensus organic growth of ~1.8% sits at the low end of management's 2%–3% pro forma guidance range, and consensus revenue of ~$702M is essentially at the midpoint of the $699M–$707M guided range. The Q1 2026 beat — pharma/biotech reagents and instruments posting their strongest growth since H1 2023, reproductive health growing double digits, and adjusted EPS exceeding the high end of guidance — established credibility in the underlying recovery thesis, and the China Immunodiagnostics divestiture announcement has cleared the air on the portfolio overhang. Estimate revisions have drifted modestly lower since the Q1 print (Q2 EPS consensus fell from ~$1.23 to ~$1.23, essentially flat, while FY26 EPS consensus is nearly unchanged at ~$5.28), suggesting the Street has not chased the recovery narrative aggressively — which is a cushion, not a risk. The stock has re-rated sharply (+22% since the May 5 earnings date), driven almost entirely by multiple expansion rather than estimate upgrades, meaning the stock is pricing in some recovery but not a blowout. The key wildcard is the software segment: management guided down ~20% in Q2 due to tough year-ago comps, and any deviation — positive or negative — from that figure will be the most scrutinized line on the call, given the Signals platform is the central pillar of the long-range investment thesis.
Key Takeaway: Consensus is a low bar — organic growth and EPS estimates sit at or below the low end of management's own guidance range. Diagnostics segment revenue is the bigger swing factor: if immunodiagnostics and reproductive health both deliver mid-to-high single-digit growth as guided, reported organic growth should clear consensus comfortably; the Life Sciences segment (guided roughly flat) is the drag, almost entirely due to the software comp.
KPI | Q1 2026 Actual | Q2 2025 Actual (Prior Year) | Q2 2026 Consensus Estimate | YoY Change (Est.) | Q2 2026 Guidance (Mgmt) | Consensus vs. Guidance Midpoint |
Total Revenue ($M) | $711M | $720M | $702M | −2.5% | $699M–$707M (midpoint $703M) | −0.1% (at midpoint) |
Organic Revenue Growth (%) | 3.0% (pro forma) | 4.5% | 1.8% | −2.7 pp YoY | 2%–3% pro forma (midpoint 2.5%) | −0.7 pp below midpoint |
Diluted EPS — Operating ($) | $1.04 | $1.15 | $1.23 | +7.0% YoY | ~$1.20–$1.22 (23% of FY $5.20–$5.30) | +1.2% above midpoint |
Life Sciences Revenue ($M) | $362M | $366M | $369M | +0.8% YoY | Roughly flat (reagents low-SD growth; software −20%) | Slightly above guidance |
Diagnostics Revenue ($M) | $349M | $314M | $338M | +7.6% YoY | Mid-to-high single digits (immuno + repro health) | At low end of guidance |
Adj. Operating Income ($M) | $168M | $180M | $192M | +6.7% YoY | ~27% adj. op. margin (pro forma) | ~27.4% implied margin (in-line) |
Sources: Visible Alpha Consensus and Actuals Data; Q1 2026 Earnings Release (May 5, 2026); Q1 2026 Earnings Call Transcript (May 5, 2026). Revenue and EPS consensus figures as of August 3, 2026.
Quarter | Reported | Consensus | Surprise (pp) | Result |
Q2 2024 | 4.5% | 3.1% | +1.4 pp | Beat |
Q3 2024 | 2.0% | 2.2% | −0.2 pp | Miss |
Q4 2024 | 6.0% | 5.1% | +0.9 pp | Beat |
Q1 2025 | 4.0% | 3.6% | +0.4 pp | Beat |
Q2 2025 | 4.5% | 3.1% | +1.4 pp | Beat |
Q3 2025 | 1.0% | 1.1% | −0.1 pp | Miss |
Q4 2025 | 4.0% | 3.0% | +1.0 pp | Beat |
Q1 2026 | 3.0% | 2.4% | +0.6 pp | Beat |
Quarter | Reported | Consensus | Surprise (%) | Result |
Q2 2024 | $1.15 | $1.14 | +0.9% | Beat |
Q3 2024 | $1.28 | $1.13 | +13.3% | Beat |
Q4 2024 | $1.42 | $1.37 | +3.7% | Beat |
Q1 2025 | $0.95 | $0.95 | 0.0% | In-Line |
Q2 2025 | $1.15 | $1.14 | +0.9% | Beat |
Q3 2025 | $1.13 | $1.13 | 0.0% | In-Line |
Q4 2025 | $1.64 | $1.58 | +3.8% | Beat |
Q1 2026 | $1.04 | $1.01 | +3.0% | Beat |
Pattern: RVTY has beaten or matched EPS consensus in 7 of the last 8 quarters, with the sole miss on organic growth (Q3 2024, −0.2 pp) being negligible; the consistent EPS beat pattern — averaging ~+3% above consensus — reflects management's conservative guidance posture and suggests the Q2 2026 bar is again beatable.
Source: Visible Alpha Consensus and Actuals Data.
Key Takeaway: Guidance has been formally reset since last earnings — the China Immunodiagnostics divestiture announcement on May 5 restructured the entire FY26 framework on a pro forma basis. No post-earnings guidance revisions have been issued since the Q1 call; the Q2 and FY26 pro forma framework established on May 5 remains the operative baseline.
Metric | Initial Guidance (Q1 2026 Earnings Call, May 5, 2026) | Revised Guidance | Current Consensus | Note |
Q2 2026 Total Revenue (Pro Forma) | $699M–$707M | — | $702M | Unchanged; consensus at midpoint |
Q2 2026 Pro Forma Organic Growth | 2%–3% | — | ~1.8% | Consensus slightly below low end of guidance range |
Q2 2026 Adj. Operating Margin (Pro Forma) | ~27% | — | ~27.4% | Consensus slightly above guidance; margin step-up from Q1 driven by seasonal revenue pickup and absence of extra week |
Q2 2026 Adj. EPS (Pro Forma) | ~$1.20–$1.22 (23% of FY) | — | $1.23 | Consensus ~$0.01–$0.03 above implied guidance midpoint |
FY 2026 Total Revenue (Pro Forma) | $2.81B–$2.84B | — | $2.83B | Consensus at midpoint; no post-earnings revision |
FY 2026 Pro Forma Organic Growth | 3%–4% | — | ~3.2% | Consensus at low end; reflects conservative Street posture |
FY 2026 Adj. Operating Margin (Pro Forma) | ~28.4% | — | ~28.6% | Consensus slightly above guidance; cost actions on track for mid-year completion |
FY 2026 Adj. EPS (Pro Forma) | $5.20–$5.30 | — | $5.28 | Consensus near high end; includes $0.20 EPS reduction from China IDX divestiture offset by $0.05 operational improvement |
Life Sciences Q2 Organic Growth | Roughly flat (reagents low-SD; software −20%) | — | N/A (segment-level not separately tracked in VA) | Software down ~20% is the key known headwind; reagents low-SD growth is the offset |
Diagnostics Q2 Organic Growth | Mid-to-high single digits (immuno + repro health similar) | — | N/A (segment-level not separately tracked in VA) | Key upside driver; Q1 pro forma Diagnostics grew 9% organically |
Source: Q1 2026 Earnings Call Transcript (May 5, 2026); Q1 2026 Earnings Release (May 5, 2026); Visible Alpha Consensus and Actuals Data.
Key Takeaway: Estimates have drifted modestly lower since the Q1 print — Q2 EPS consensus slipped from ~$1.23 to $1.23 (essentially flat) while FY26 EPS is nearly unchanged at $5.28 vs. $5.28 at the post-print baseline. The gap between consensus and guidance midpoints is narrow and slightly below guidance on organic growth, suggesting the Street has not fully credited the recovery narrative — a setup that favors a beat if Diagnostics delivers.
KPI (Period) | Estimate ~5 Days Post Q1 Earnings (c. May 12, 2026) | Current Consensus (Aug 3, 2026) | Estimate Δ (%) | Initial Guidance (Q1 Call, May 5) | Current Guidance | Guidance Δ | Consensus vs. Guidance Midpoint |
Total Revenue — Q2 2026 | $702M | $702M | 0.0% | $699M–$707M | Unchanged | — | −0.1% (at midpoint) |
Organic Growth — Q2 2026 | 1.77% | 1.82% | +0.3% | 2%–3% | Unchanged | — | −0.7 pp below midpoint |
Diluted EPS (Op.) — Q2 2026 | $1.23 | $1.23 | 0.0% | ~$1.20–$1.22 | Unchanged | — | +1.2% above midpoint |
Total Revenue — FY 2026 | $2.828B | $2.828B | 0.0% | $2.81B–$2.84B | Unchanged | — | At midpoint |
Organic Growth — FY 2026 | 3.06% | 3.22% | +0.5% | 3%–4% | Unchanged | — | −0.3 pp below midpoint |
Diluted EPS (Op.) — FY 2026 | $5.28 | $5.28 | 0.0% | $5.20–$5.30 | Unchanged | — | Near high end of range |
Diluted EPS (Op.) — FY 2027 | $5.83 | $5.84 | +0.2% | No formal FY27 guidance | — | — | N/A |
Estimates have been remarkably stable since the Q1 print, with essentially zero revision in either direction across all key metrics. This stability reflects the Street's wait-and-see posture on the recovery trajectory — the conservative guidance framework has anchored consensus, and the lack of downward revisions despite the software headwind is a mild positive signal. The FY27 EPS estimate of $5.84 implies ~10.6% growth over FY26, consistent with management's long-range plan acceleration thesis.
Source: Visible Alpha Consensus and Actuals Data (as-of date May 12, 2026 for post-print baseline; current as of August 3, 2026). Q1 2026 Earnings Call Transcript (May 5, 2026) for guidance figures.
Key Takeaway: RVTY has outperformed both XLV and the S&P 500 since the May 5 earnings date, gaining ~+25% vs. XLV +12% and SPY +5%. The move has been almost entirely multiple-driven (EV/EBITDA expanded ~26% over the 3-month window) rather than estimate-driven, suggesting the market is pricing in recovery credibility rather than a specific earnings beat.
Since the Q1 2026 earnings date (May 5, 2026), RVTY closed at $92.30 and has risen to $112.52 as of July 31, 2026 (+21.9%), significantly outpacing XLV (+11.9%) and SPY (+3.2%) over the same period. The most notable single-day move was June 25, 2026, when RVTY surged ~7.7% (from $99.90 to $113.53) on no company-specific announcement — likely driven by sector rotation and positive read-through from peer earnings (DHR reported Q2 2026 results on July 21 and TMO on July 23, both confirming the pharma/biotech recovery). The stock has consolidated in the $108–$114 range since late June, suggesting the initial re-rating has been absorbed and the next catalyst is the Q2 print itself. The 3-month EV/EBITDA multiple expanded from 9.65x to 12.21x (+26.5%), confirming the move is sentiment/multiple-driven rather than earnings-driven — which means the stock needs the print to validate the re-rating or risk a pullback.
Indexed Performance Since May 5, 2026 (Base = 100):
Date | RVTY (Indexed) | XLV (Indexed) | SPY (Indexed) |
May 5, 2026 (Base) | 100.0 | 100.0 | 100.0 |
May 29, 2026 | 113.2 | 102.9 | 104.5 |
Jun 25, 2026 (Surge Day) | 123.0 | 107.1 | 101.5 |
Jun 30, 2026 | 120.5 | 109.2 | 103.2 |
Jul 23, 2026 (TMO Earnings) | 122.6 | 111.1 | 102.0 |
Jul 31, 2026 | 121.9 | 111.9 | 103.2 |
Note: Indexed to 100 at May 5, 2026 close (RVTY $92.30, XLV $145.30, SPY $723.77). Sector ETF: XLV (Health Care Select Sector SPDR), appropriate for RVTY's life sciences tools and diagnostics sub-sector. Source: Stock Price Data (Yahoo Finance).
Key Takeaway: The China Immunodiagnostics divestiture announcement on May 5 was the dominant post-earnings development and has already been absorbed by the market. The most actionable near-term development is the confirmation from TMO and DHR Q2 2026 earnings (July 21–23) that the pharma/biotech reagent recovery is real and broadening — a direct positive read-through for RVTY's Q2 print.
Key Takeaway: Only one insider transaction was filed in the post-Q1 period — a small 10b5-1 planned sale by the CAO. No open-market buys or discretionary sales; nothing notable to flag.
Name | Title | Transaction Type | Shares | Date | Note |
Gonzales, Anita | Vice President & CAO | 10b5-1 Planned Sale | 85 shares | Jul 20, 2026 (filed Jul 22) | Pre-planned 10b5-1 sale; 7,201 shares retained post-transaction. Routine; not discretionary. |
Source: SEC Form 4 Filing — Gonzales Anita (RVTY), filed July 22, 2026. Window: May 5, 2026 – August 3, 2026. Open-market buys (code P) and open-market sales (code S) only, plus 10b5-1 plan initiations. No open-market buys or discretionary sales were identified in the period.
Screening Rule: Only commentary publicly issued within the prior 60 days (i.e., on or after June 4, 2026) and explicitly addressing Q2 2026 (April–June 2026) demand conditions, current-quarter trends, or forward outlook for RVTY's current reporting period is included. Prior-quarter-only commentary (e.g., peers discussing their own Q1 2025 or Q1 2026 results without forward read-through) is excluded. Agilent (fiscal Q3 ends July 2026, not yet reported), Waters (Q2 not yet reported as of this writing), and Bio-Rad and Bruker (Q2 not yet reported) are excluded from the current-quarter read-through table as their Q2 2026 actuals are not yet available. Bio-Techne (TECH) is excluded as it agreed to be acquired by Merck KGaA on June 25, 2026, and its most recent earnings (fiscal Q3 2026, ended April 2026) predate the screening window. The two qualifying peers with Q2 2026 actual results and commentary are Thermo Fisher Scientific (TMO, reported July 23, 2026) and Danaher (DHR, reported July 21, 2026).
Relevance to RVTY: TMO is the broadest-based life science tools and diagnostics company and the single most actionable read-through for RVTY. TMO's Specialty Diagnostics segment (immunodiagnostics, transplant diagnostics) and Life Science Solutions segment (bioproduction reagents, cell culture media) directly overlap with RVTY's two reporting segments.
TMO reported mid-single digit growth in its pharma and biotech end market in Q2 2026, led by bioproduction and clinical research. Management noted that “customer activity across all end markets continued to strengthen” with “particularly encouraging progression” in pharma and biotech. Biotech customers showed “very strong authorizations” for accelerated drug development offerings, with a typical six-month lag to revenue. TMO guided the second half of 2026 for pharma and biotech to be “a little better” than the first half.
RVTY Read-Through: Directly validates RVTY's Q1 2026 observation that pharma/biotech reagents and instruments posted their strongest growth since H1 2023. If TMO's pharma/biotech momentum continued into Q2, RVTY's Life Science Solutions (reagents and platforms) should sustain the low-single-digit growth management guided.
TMO's academic and government end market grew in the low single digits in Q2 2026, marking a return to growth, primarily driven by strong adoption of chromatography and mass spectrometry products globally. However, TMO characterized the market as still in a “stabilization period” and did not change its overall outlook, preferring to see “more broad-based activity before calling a new trend.” Academic and government spending in China remained muted.
RVTY Read-Through: RVTY's management described academic/government customers as “nervous and edgy” in Q1 2026 but stabilizing toward a new normal. TMO's low-single-digit growth in this segment is a mild positive signal, but RVTY may lag given its customer mix. Not a meaningful upside driver for Q2.
TMO's Diagnostics and Healthcare segment grew mid-single digits in Q2 2026 (reported +6%, organic +5%), with immunodiagnostics and transplant diagnostics businesses explicitly cited as growth drivers. Management described the quarter as “incredibly strong” and characterized the healthcare market channel as “well positioned.”
RVTY Read-Through: This is the most direct positive read-through for RVTY's Euroimmun/immunodiagnostics ex-China business, which was growing high single digits to low double digits in Q1 2026. TMO's 5% organic growth in immunodiagnostics corroborates RVTY's mid-to-high single-digit Diagnostics guidance for Q2 and suggests the segment is tracking at or above the guided range.
Relevance to RVTY: DHR's three-segment structure (Biotechnology/Bioprocessing, Life Sciences, Diagnostics) maps closely onto RVTY's two segments. DHR's Abcam brand (proteins, antibodies) directly competes with RVTY's reagent catalog, and Beckman Coulter Diagnostics (immunoassays) overlaps with RVTY's Euroimmun business.
DHR reported that Abcam “delivered its best quarter since acquisition” in Q2 2026, with growth accelerating as “commercial initiatives, particularly around biopharma and diagnostic end markets, gained further traction.” Large pharma and biopharma customers “remained healthy” and are “progressing back to normal.” Biotech funding showed more read-through in Q2 than previously, with orders and some revenue beginning to materialize from funding announcements. DHR's Life Sciences segment core revenue grew 5.5% — “the strongest quarter in several years.”
RVTY Read-Through: Abcam's best quarter since acquisition is the strongest confirmation that large pharma R&D spending on reagents and consumables is durable and accelerating. This directly supports RVTY's Life Science Solutions (reagents and platforms) low-single-digit growth guidance for Q2 and suggests upside risk to that assumption.
DHR's Beckman Life Sciences showed “notable growth in automation, where the team is well positioned to benefit as customers invest in the lab infrastructure needed to support autonomous labs and AI-enabled drug discovery.” DHR noted “little green shoots around the AI dynamic” with demand for increased automation for lab-in-a-loop or autonomous science applications. Life sciences instrument businesses grew mid-single digits across end markets.
RVTY Read-Through: Directly relevant to RVTY's Life Sciences instruments business (automation, robotic liquid handling, in vivo imaging), which saw positive growth from both academia and pharma/biotech simultaneously in Q1 2026 for the first time in three years. DHR's automation commentary validates RVTY's positioning in AI-enabled drug discovery workflows (Signals software, LabGistics, Biodesign).
DHR noted that academic demand “improved modestly as the quarter progressed, but remained below normal levels.” Management stated they “need to see a more constructive perspective on academic funding before we’re ready to call an inflection point” and expect “stability in the academic markets” for now. Academia represents less than 5% of DHR revenues.
RVTY Read-Through: Consistent with RVTY's own cautious tone on academic/government customers. Not a meaningful headwind for Q2 given the small revenue contribution, but confirms the recovery in this sub-segment is not yet broad-based.
DHR's Beckman Coulter Diagnostics was “up mid-single digits globally, with another quarter of solid immunoassay revenue and install base growth.” Specialty diagnostics businesses (Leica Biosystems, Radiometer) collectively grew high single digits. Declines in China “began to moderate as pricing stabilized and volumes improved in molecular diagnostics.” DHR guided Q3 diagnostics (ex-respiratory) at approximately 5% core growth, with China policy headwinds “starting to lessen.”
RVTY Read-Through: Beckman Coulter's mid-single-digit immunoassay growth and Leica Biosystems' high-single-digit growth are the most direct corroborations of RVTY's Euroimmun/immunodiagnostics ex-China trajectory. The China diagnostics stabilization commentary is also relevant context as RVTY navigates its China Immunodiagnostics divestiture — suggesting the macro environment for that business is not deteriorating further.
Peer | Report Date | RVTY Segment Overlap | Q2 2026 Signal | Net Read-Through for RVTY Q2 |
TMO | Jul 23, 2026 | Immunodiagnostics, Pharma reagents, Academic | Immunodiagnostics +5% organic; Pharma/biotech mid-SD growth; Academic low-SD (stabilizing) | Broadly positive |
DHR | Jul 21, 2026 | Pharma reagents (Abcam), Immunoassays (Beckman), Instruments (automation) | Abcam best quarter since acquisition; Life Sciences +5.5% core; Beckman Coulter Diagnostics mid-SD; Academic below normal but stabilizing | Broadly positive |
Agilent (A) | Not yet reported (FQ3 ends Jul 2026; reports Aug 26) | Instruments, GMP/CDMO | Excluded — Q2 2026 actuals not yet available | N/A — excluded per screening rule |
Waters (WAT) | Not yet reported | Instruments, Software subscription | Excluded — Q2 2026 actuals not yet available | N/A — excluded per screening rule |
Bio-Techne (TECH) | Acquired by Merck KGaA (Jun 25, 2026) | Pharma reagents, GMP | Excluded — most recent earnings (FQ3 Apr 2026) predate screening window | N/A — excluded per screening rule |
Bruker (BRKR) | Not yet reported | Instruments, Academic | Excluded — Q2 2026 actuals not yet available | N/A — excluded per screening rule |
Sources: TMO Q2 2026 Earnings Call Transcript (July 23, 2026); DHR Q2 2026 Earnings Call Transcript (July 21, 2026). All commentary pertains to Q2 2026 (April–June 2026) actual results and forward outlook, qualifying under the 60-day / current-quarter screening rule.