Revvity has opened fiscal 2026 with steady gains in revenue and earnings, while unveiling a strategic exit from its China Immunodiagnostics business as it sharpens its portfolio focus.

 

For the first quarter ended April 5, 2026, the company reported GAAP earnings per share from continuing operations of $0.37, up from $0.35 a year earlier. Revenue climbed to $711 million, compared with $665 million in the prior-year period. GAAP operating income rose to $76 million, though margins edged slightly lower at 10.7% versus 10.9% last year.

 

On an adjusted basis, earnings per share from continuing operations increased to $1.06 from $1.01 a year ago. Adjusted operating income came in at $168 million, compared with $170 million, with margins narrowing to 23.6% from 25.6%.

 

The company also announced a major portfolio shift, planning to divest its Immunodiagnostics business in China, a unit that generated approximately 6% of its fiscal 2025 revenue.

 

Revvity has signed a letter of intent with a potential buyer, with a definitive agreement expected in the second quarter of 2026 and completion anticipated in 2027 pending regulatory approvals.

 

Management said the transaction will allow the company to streamline operations and focus on higher-growth areas. The business is being excluded from forward-looking pro forma guidance.

 

On a pro forma basis, which excludes the China business, Revvity reported earnings per share from continuing operations of $0.40, sharply improved from $(0.13) a year earlier. Pro forma operating income surged to $80 million from $20 million, lifting margins to 11.7% from 3.2%.

 

Adjusted pro forma earnings per share rose to $1.04 from $0.95, while revenue increased to $687 million from $629 million. Pro forma adjusted operating income edged up to $165 million from $159 million, with margins slightly softer at 24.0% versus 25.3%.

 

“We performed well in the first quarter, with organic growth and adjusted EPS exceeding our expectations, reflecting strong execution from our teams across the organization,” said Prahlad Singh, president and chief executive officer of Revvity. 

 

“Our disciplined approach to portfolio optimization positions us well to capitalize on improving market conditions and deliver differentiated results for shareholders.”

 

 

Life Sciences revenue rose to $362 million from $340 million, marking 6% growth, with organic revenue up 3%. Adjusted operating income dipped slightly to $104 million from $106 million, and margins fell to 28.7% from 31.1%.

 

Diagnostics posted stronger momentum, with revenue increasing to $349 million from $324 million, up 8%. Organic revenue rose 4%, while pro forma organic growth reached 9%. Adjusted operating income increased to $76 million from $74 million, though margins declined to 21.8% from 22.8%.

 

Looking ahead, Revvity forecast full-year 2026 pro forma revenue of $2.81 billion to $2.84 billion, with organic growth of 3% to 4%. The company expects pro forma adjusted earnings per share of $5.20 to $5.30.

 

The company noted that guidance is presented on a non-GAAP pro forma basis, excluding the divested China business, and cannot be fully reconciled to GAAP results due to timing and variability of certain items.