Revvity (RVTY) Q2 2026 earnings summary

Executive summary

• Q2 2026 results exceeded expectations with pro forma revenue of $711M, 3% pro forma organic growth, and adjusted EPS of $1.41, driven by strong Diagnostics and AI-related demand in Life Sciences.

• Raised full-year 2026 guidance for organic growth, adjusted operating margin, and adjusted EPS.

• Signed definitive agreement to divest China Immunodiagnostics business, expected to close by end of 2027, representing about 6% of 2025 revenue.

• Innovation highlights include the launch of Signals AI, Anthropic connector, Signals for Startups, and FDA clearance of a Testosterone Assay.

Financial highlights

• Q2 total revenue: $711M, 3% organic growth, above guidance; pro forma revenue up 4% year-over-year.

• Adjusted operating margin: 29.3% in Q2, up 280bps year-over-year; adjusted gross margin: 62.3%.

• Adjusted EPS: $1.41, up 23% year-over-year, well above guidance; benefited by $16M in tariff refunds.

• Free cash flow: $184M in Q2, $299M year-to-date, 108% conversion of adjusted net income.

• Retired €500M note in July, strengthening the balance sheet.

Outlook and guidance

• Full-year 2026 pro forma revenue guidance: $2.83B–$2.86B, 4–5% organic growth.

• Adjusted operating margin guidance increased to 28.7%.

• Adjusted EPS guidance raised to $5.30–$5.40; adjusted tax rate ~18%.

• Q3 organic growth expected at 4–6%; revenue $685M–$700M; operating margin ~29%.

• Diagnostics expected to grow high-single digits; Life Sciences low-single digits for full year.