Revvity Q3 Revenue Rises 7% as Adjusted Margin Expands

Revvity Inc. (NYSE: RVTY) reported stronger third-quarter 2026 pro forma revenue and adjusted profitability, as higher volumes and operating efficiencies supported substantial margin expansion across its Life Sciences and Diagnostics businesses. The company also set 2026 pro forma guidance for about 5% organic revenue growth and adjusted earnings of $5.40 to $5.45 per share.

Pro forma revenue rose 7% year over year to $710 million, including 7% organic growth and a one-percentage-point contribution from acquisitions, partly offset by a one-point foreign-exchange headwind. The figures exclude the China Immunodiagnostics business that Revvity has agreed to divest.

Pro forma adjusted operating margin increased 340 basis points to 29.4%, while adjusted gross margin expanded 280 basis points to 62.4%. Pro forma adjusted EPS climbed 21% to $1.37. Revvity attributed the profitability gains primarily to volume leverage, favorable product mix and operational efficiencies.

Free cash flow totaled $152 million for the quarter and $451 million for the first nine months of 2026. Year-to-date free cash flow was equivalent to 105% of adjusted net income. The company also retired a €500 million note during the period.

Life Sciences growth led by pharma, software

Life Sciences generated $380 million of pro forma revenue, up 11% in total and 9% organically. Acquisitions contributed two percentage points, while foreign exchange had no effect.

Revenue from pharma and biotech customers grew at a low-double-digit rate, while academic and government revenue increased by a mid-single-digit percentage. Revvity said conditions in the pharma and biotech end market were improving and demand related to artificial intelligence continued to build.

Within the segment, Life Sciences Solutions posted high-single-digit growth, with both reagents and instruments performing ahead of the company’s expectations. Software revenue increased at a double-digit rate, supported by contract renewals and growth in annual recurring revenue.

The segment’s adjusted operating margin reached 31.5%, an increase of 200 basis points from a year earlier. Revvity cited higher volume and a favorable product mix as the main contributors.

Diagnostics margin expands despite China headwind

Diagnostics reported $330 million in pro forma revenue, representing total growth of 4% and organic growth of 5%. Foreign exchange reduced growth by one percentage point.

Immunodiagnostics revenue rose at a high-single-digit rate, led by strength in the Americas. Reproductive Health recorded low-single-digit growth overall and mid-single-digit growth outside China, indicating that China remained a constraint on the business.

Diagnostics adjusted operating margin expanded 480 basis points to 29.9%, reflecting volume leverage and operational efficiency. The margin still included a 160-basis-point headwind from the China Immunodiagnostics operation.

Revvity also highlighted the launch of a three-plex solution for the early detection of type 1 diabetes and its announced acquisition of Human Cell Design. The presentation did not provide financial terms or expected contributions from the acquisition.

2026 outlook

For 2026, Revvity expects pro forma revenue of approximately $2.86 billion, implying total growth of about 6% and organic growth of roughly 5%. The guidance assumes contributions of about 0.5 percentage point from foreign exchange and 0.75 point from mergers and acquisitions.

The company projects a pro forma adjusted operating margin of approximately 28.8% and adjusted EPS of $5.40 to $5.45. Its assumptions also include approximately $88 million of adjusted net interest expense and other items, an adjusted tax rate of about 18%, and an average diluted share count of roughly 112 million.

The outlook excludes the China Immunodiagnostics business and remains subject to risks involving customer and end-market developments, foreign exchange, acquisitions and divestitures, and the assumptions underlying management’s projections.