Can Diagnostic Revenues Fuel PerkinElmer's (PKI) Q4 Earnings?
Zacks Investment Research | Jan 22, 2019 09:16PM ET
PerkinElmer, Inc. (NYSE:PKI) is expected to release fourth-quarter 2018 results on Jan 31, after market close. The quarterly result should reflect steady growth in the core Diagnostics business. Meanwhile, a raised earnings view for 2018 is encouraging.
Q3 Results at a Glance
PerkinElmer reported third-quarter 2018 adjusted earnings per share of 90 cents, which fell short of the Zacks Consensus Estimate by 2.2%. However, the bottom line grew 23.3% from the year-ago quarter figure.
Revenues in the quarter came in at $674.3 million, missing the Zacks Consensus Estimate by 0.02% but improved 21.7% on a year-over-year basis. Adjusted revenues totaled $674.5 million, which increased 21.6% year over year.
In the trailing four quarters, PerkinElmer delivered average positive earnings surprise of 2.5%.
Which Way Are Estimates Treading?
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share is pegged at $1.16, mirroring 19.6% improvement year over year. The same for revenues stands at $746.2 million, reflecting growth of 16.3% year over year.
Let’s see how things are shaping up before the earnings results.
PerkinElmer, Inc. Price and EPS Surprise
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