Revvity Earnings: Solid Start to 2025 Supported by Diagnostics and Software Segments

Narrow-moat Revvity reported first-quarter results that were broadly in line with our expectations. Revenue grew 2% year over year despite ongoing macroeconomic headwinds in key end markets, and shares responded positively, rising about 2% in early trading. For full-year 2025, management raised its revenue outlook to a range of $2.83 billion-$2.87 billion to account for recent foreign currency fluctuations and reaffirmed its adjusted EPS guidance of $4.90-$5.00. We have slightly increased our 2025 top-line growth forecast to reflect these trends. However, this minor adjustment does not materially affect our fair value estimate, which remains at $162 per share. Revvity shares continue to look undervalued to us.