PerkinElmer Q2 revenues flat year over year

By LabPulse.com staff writers

August 2, 2022 -- PerkinElmer on Monday reported second quarter revenues of $1.23 billion, flat year-over-year but surpassing Wall Street analysts’ average estimate of $1.20 billion.

For the three months ended July 3, the Waltham, MA-based firm posted Diagnostics segment revenues of $569 million, down 21% from $716 million in Q2 2021. Q2 Discovery and Analytical Solutions revenues were $661 million, up 29% compared to $513 million in the prior-year period.

The firm reported a Q2 net income of $179.2 million, or $1.42 per share, compared to $245.9 million, or $2.19 per share, in Q2 2021. Adjusted earnings per share from continuing operations for the quarter was $2.32, beating the average analysts' estimate of $2.02 per share.

For the third quarter of 2022, the firm expects revenue of approximately $1.02 to $1.03 billion and adjusted earnings per share of $1.40 to $1.45. For full-year 2022, the company now forecasts revenue of $4.60 billion to $4.64 billion and adjusted earnings per share of $7.80 to $7.90.

PerkinElmer also said Monday that it has signed an agreement to divest its applied, food, and enterprise services businesses to private equity firm New Mountain Capital for a total of $2.45 billion in cash.

Video from AACC: PerkinElmer on diagnostics, acquisitions
Greg Stock, general manager of PerkinElmer’s Euroimmun business, discussed products and technologies on display at AACC 2022, as well as the integration...
PerkinElmer inks deal to divest businesses
Moving closer to its goal of becoming solely a life sciences and diagnostics company, PerkinElmer said Monday that it has signed an agreement to divest...
PerkinElmer, Novartis expand newborn screening for SCD
PerkinElmer on Thursday announced that it is collaborating with Novartis to expand newborn screening for sickle cell disease (SCD) in sub-Saharan Africa.
COVID-19-related sales remain strong for lab tool firms in 2021
Laboratory tool companies have been among the biggest beneficiaries of U.S. government COVID-19-related spending on coronavirus testing and vaccine R&D...

Copyright © 2022 LabPulse.com

Last Updated mp 8/2/2022 12:29:42 PM



Subscribe Today
Do you want to be a Microbiology Insider?

When LabPulse gets hot new information, our Insiders are the first to find out. Stay current in today's competitive market by receiving our exclusive free email updates.

Yes, Keep Me Current