Revvity (NYSE: RVTY) raises full-year outlook and pro forma revenue climbs 7%

What happened

Revvity, Inc. (NYSE: RVTY) widened its adjusted operating margin to 28.7% in the third quarter, up from 26.1% a year earlier. The company also raised full-year guidance in its Nov. 3 earnings release for the quarter ended Oct. 4.

Revenue was $729 million, up from $699 million in the third quarter of 2025. Pro forma figures leave out China IDX, the China Immunodiagnostics business the company has agreed to sell. Pro forma revenue was $710 million against $660 million, a 7% gain. Pro forma organic growth was also 7%.

For 2026 the company forecasts pro forma revenue of about $2.86 billion, pro forma organic growth of about 5% and pro forma adjusted EPS of $5.40 to $5.45. Chief executive Prahlad Singh said "broad-based growth and strong execution drove results meaningfully ahead of our expectations."

Key numbers

Metric	Latest	Change	Source
Third-quarter revenue	$729 million	from $699 million, +4.3%	Calculated from SEC 8-K
Third-quarter pro forma revenue	$710 million	from $660 million, +7.4%	Calculated from SEC 8-K
Adjusted operating margin	28.7%	from 26.1%, +2.6 percentage points	Calculated from SEC 8-K
Adjusted EPS from continuing operations	$1.38	from $1.18, +16.9%	Calculated from SEC 8-K
2026 pro forma adjusted EPS guidance	$5.40-$5.45		SEC 8-K
Cash and cash equivalents	$592.8 million	from $919.9 million (Dec. 28, 2025), -35.6%	Calculated from SEC 8-K

Read more: Revvity (RVTY) company research

Where the growth came from

Life Sciences led on growth. Segment revenue was $380 million versus $343 million. Pro forma organic revenue rose 9% and adjusted operating margin reached 31.5% from 29.5%.

Diagnostics grew more slowly, but its margin gain was larger. Pro forma organic revenue rose 5% and adjusted operating margin was 29.9% versus 25.1%. Reported Diagnostics revenue was $349 million, down from $356 million, while pro forma revenue rose 4%.

Corporate costs moved the other way. They were $14.5 million versus $8.0 million a year earlier. That took segment adjusted operating income of $223.8 million down to the company's $209.3 million.

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Why it matters

OptimistFi has argued that the stock works only if post-reset growth turns into lasting operating leverage and cash. The margin gains speak to the first part. The cash figures below speak to the second.

The growth rate depends on the basis. By OptimistFi's calculation, reported revenue rose 4.3% from a year earlier while pro forma revenue rose 7.4%. The faster figure leaves out China IDX, so holders should weigh the 7% headline against the smaller reported gain.

GAAP results moved the same way but sit far below adjusted ones. GAAP EPS from continuing operations was $0.56 versus $0.41. Adjusted EPS was $1.38 versus $1.18. GAAP operating margin was 13.1% versus 11.7%.

Part of the gap is restructuring. Restructuring and other charges, which adjusted figures exclude, rose to $28.4 million from $9.9 million. Amortization of intangible assets, also excluded, was $84.7 million.

Cash, debt and the China IDX sale

Cash generation improved. Operating cash flow from continuing operations was $484.5 million in the first nine months of 2026. By OptimistFi's calculation that is up 19.1% from $407.0 million a year earlier. The third quarter alone produced $166.7 million versus $138.6 million.

The cash balance moved the other way. Cash and cash equivalents were $592.8 million on Oct. 4 against $919.9 million on Dec. 28, 2025. The cash flow statement shows $571.2 million of senior unsecured notes paid in the third quarter. The balance sheet shows no current portion of debt against $588.8 million at year-end.

Share repurchases were $102.6 million over nine months versus $652.5 million a year earlier, so far less cash went to buybacks. China IDX was about 6% of total revenue in fiscal 2025. Its sale is expected to close by the end of 2027.

What's next

Revvity hosts its 2026 Investor Day on Friday, Nov. 13, at 9 a.m. ET. Management will update investors on key business initiatives, operational achievements and the financial outlook.

Margin and cash targets set there are the next test. Margin gains that hold alongside restructuring charges would support OptimistFi's view. A weaker margin or cash outlook would weaken it.

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