Revvity, Inc. Q4 FY2023 results: revenue $696 million

Revvity, Inc. (RVTY) reported revenue of $696 million for Q4 FY2023, the quarter ended 31 December 2023. Net income was $79 million, and diluted earnings per share $0.69. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue$696 million

Net income$79 million

Diluted EPS$0.69

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	696	671	n/a	n/a
Cost of revenue	n/a	298	n/a	n/a
Gross profit	n/a	373	n/a	n/a
Gross margin	n/a	55.5%	n/a
Research and development	49.6	53.0	n/a	n/a
Selling, general and administrative	257	250	n/a	n/a
Operating income	77.2	69.2	n/a	n/a
Operating margin	11.1%	10.3%	n/a
Interest expense	24.6	25.5	n/a	n/a
Pre-tax income	31.4	50.6	n/a	n/a
Income tax	-32.2	18.1	n/a	n/a
Effective tax rate	-102.6%	35.8%	n/a
Net income	78.6	9.5	n/a	n/a
Net margin	11.3%	1.4%	n/a
Diluted EPS	$0.69	$0.08	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	197	-33.5	n/a	n/a
Capital expenditure	24.1	22.4	n/a	n/a
Free cash flow	172	-55.8	n/a	n/a
Free cash flow margin	24.8%	-8.3%	n/a
Depreciation and amortisation	106	108	n/a	n/a
Share-based compensation	7.2	10.7	n/a	n/a
Buybacks	4.9	111	n/a	n/a
Dividends paid	8.6	8.7	n/a	n/a
Dividend per share	$0.07	$0.07	n/a	n/a
Diluted shares, weighted	125m	124m	n/a	n/a
Shares outstanding at period end	123m	123m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Total assets	13,565	13,422	n/a	n/a
Cash and equivalents	913	1,137	n/a	n/a
Receivables	633	645	n/a	n/a
Inventory	428	436	n/a	n/a
Goodwill	6,534	6,470	n/a	n/a
Total debt, as filed	3,927	3,909	n/a	n/a
Long-term debt	3,900	3,152	n/a	n/a
Borrowings, as the company tags them	12.3	3,180	n/a	n/a
Operating lease liabilities	133	134	n/a	n/a
Shareholders' equity	7,873	7,694	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	671	696	650	692	684	729	665	720	699	772	711	730
Cost of revenue	298	n/a	295	306	299	n/a	289	328	324	n/a	323	313
Gross profit	373	n/a	355	386	385	n/a	376	393	375	n/a	388	417
Gross margin	56%	n/a	55%	56%	56%	n/a	56%	55%	54%	n/a	55%	57%
R&D	53.0	49.6	50.4	48.1	49.1	49.2	53.6	53.3	50.8	58.2	57.9	49.0
SG&A	250	257	261	252	238	244	250	249	242	252	254	279
Operating income	69.2	77.2	44.1	85.7	98.2	119	72.2	90.8	81.9	112	75.9	89.3
Operating margin	10%	11%	7%	12%	14%	16%	11%	13%	12%	14%	11%	12%
Interest expense	25.5	24.6	24.4	24.7	24.4	22.8	23.0	22.9	22.8	23.5	24.7	23.0
Pre-tax income	50.6	31.4	34.5	86.7	100	94.6	52.4	68.7	55.7	91.6	50.0	63.5
Tax rate	36%	-103%	17%	16%	7%	7%	20%	20%	15%	-5%	18%	16%
Net income	9.5	78.6	26.0	55.4	94.4	94.6	42.2	53.9	46.7	98.4	40.7	51.8
Net margin	1%	11%	4%	8%	14%	13%	6%	7%	7%	13%	6%	7%
Diluted EPS	$0.08	$0.69	$0.21	$0.45	$0.77	$0.77	$0.35	$0.46	$0.40	$0.86	$0.36	$0.47
Operating cash flow	-33.5	197	148	159	148	174	128	134	138	182	115	192
Capital expenditure	22.4	24.1	17.8	22.0	22.3	24.5	16.0	18.9	18.5	20.2	19.8	11.1
Free cash flow	-55.8	172	130	137	126	150	112	115	120	162	95.5	181
Buybacks	111	4.9	10.8	19.6	154	185	154	294	205	168	86.5	16.0
Dividends paid	8.7	8.6	8.6	8.6	8.6	8.5	8.4	8.3	8.1	8.0	7.8	7.8
Shares outstanding	123m	123m	123m	123m	122m	121m	119m	116m	114m	112m	112m	112m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 27 February 2024, accession 0000031791-24-000004: the filing on EDGAR. All of Revvity, Inc.'s filings: EDGAR company page.

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