PerkinElmer (PKI) Tops Q1 EPS by 3c, Revenues Beat; Raises FY19 EPS Guidance

PerkinElmer (NYSE: PKI) reported Q1 EPS of $0.69, $0.03 better than the analyst estimate of $0.66. Revenue for the quarter came in at $648.7 million versus the consensus estimate of $645.08 million.

• Revenue of $648.7 million; 1% Reported growth; Organic growth of 5%
• GAAP EPS from continuing operations of $0.32; Adjusted EPS of $0.69
• Acquisition of Cisbio Bioassays, a leading custom assay service provider, bolsters position in life sciences and diagnostics markets
• FY19 GAAP earnings per share guidance range of $2.85 to $2.90 from continuing operations; Raises Adjusted EPS guidance to $4.02-4.07

“We are pleased with our first quarter results of 5% organic growth and a corresponding 10% increase in adjusted EPS, driven by strong margin expansion. Generally speaking, the markets are performing in-line with our expectations heading into the year,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “I’m also very pleased to welcome the Cisbio Bioassays team into PerkinElmer. Their technical capabilities and product portfolio fit seamlessly and expand our leading drug discovery franchise.”

GUIDANCE:

PerkinElmer sees FY2019 EPS of $4.02-$4.07, versus the consensus of $4.03.

For earnings history and earnings-related data on PerkinElmer (PKI) click here.

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