PerkinElmer Clocks Lower Quarterly Earnings, But Beat Expectations

Loading...
Loading...
  • PerkinElmer Inc's PKI Q3 revenues, including Applied, Food & Enterprise Services (AES), decreased 11.7% Y/Y to $1.03 billion, beating the consensus of $1.01 billion.
  • Revenue excluding AES reached $711.8 million, down 17.4% Y/Y.
  • Discovery & Analytical Solutions posted $313 million in revenues, +51% (14% organic).
  • Discovery & Analytical Solutions proforma sales increased 23% Y/Y to $633 million (+12% organic).
  • Related: PerkinElmer Offloads Applied, Food & Enterprise Services Businesses For ~$2.5B.
  • Diagnostics segment sales fell 39% Y/Y (-33% organically) to $399 million. 
  • Pro forma adjusted earnings per share was $1.51, as compared to $2.31 in the same period a year ago, beating the consensus of $1.45.
  • Guidance: For Q4 FY2022, PerkinElmer forecasts total revenue from continuing operations of $0.73 billion. 
  • Pro forma total revenue is expected to be approximately $1.06-$1.07 billion (consensus of $1.09 billion), and pro forma adjusted EPS of $1.65-$1.67 (vs. consensus of $1.65).
  • For FY22, the company now forecasts total revenue from continuing operations of $3.30 billion. Pro forma total revenue is expected to be approximately $4.59-$4.60 billion (vs. consensus of $4.61 billion), and pro forma adjusted EPS of $7.89-$7.91 (consensus of $7.76).
  • This compares to the earlier forecast of $4.60-4.64 billion and $7.80-7.90, respectively.
  • Price Action: PKI shares traded lower by 1.25% at $127.59 on the last check Tuesday.
Loading...
Loading...
Posted In: EarningsNewsGuidanceHealth CareGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...