10:02 AM EST, 11/04/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph, and stock buyback plan in the last paragraph.)

Revvity ( RVTY ) shares rose 4.7% in recent Monday trading after it reported higher Q3 adjusted earnings and revenue from a year earlier that also came ahead of analysts' expectations, while also raising its 2024 adjusted earnings guidance.

The company reported Q3 adjusted earnings of $1.28 per share, up from $1.18 a year earlier.

Analysts polled by Capital IQ expected $1.13.

Revenue for the quarter ended Sept. 29 was $684 million, up from $670.7 million a year earlier.

Analysts polled by Capital IQ expected $679.9 million.

For full-year 2024, the company raised its adjusted EPS guidance to between $4.83 and $4.87 from the prior outlook of between $4.70 and $4.80. Analysts polled by Capital IQ expect $4.75.

Meanwhile, revenue outlook for the year was lowered to be in the range of $2.75 billion to $2.77 billion from the prior outlook range of $2.77 billion to $2.79 billion. Analysts surveyed by Capital IQ expect $2.78 billion.

Additionally, Revvity ( RVTY ) said its board authorized a new two-year $1 billion stock buyback plan, which replaces the remainder of the current program announced in May last year.

Price: 126.71, Change: +5.66, Percent Change: +4.68