PKI - PerkinElmer on track to snap winning streak on lower-than-expected guidance

TheCrimsonRibbon/iStock via Getty Images PerkinElmer ([[PKI]] -1.8%) is set to record its first intra-day loss in more than two weeks after the company’s 2023 guidance came below expectations. On its Virtual Investor and Analyst Day, PerkinElmer projected 2023 adjusted earnings per share to reach at least $6.50 slightly ahead of the consensus estimates at $6.63. However, as it pursues a total addressable market worth $85B, almost triple the size in 2015, the company expects 2023 revenue to exceed $4B compared to $3.9B of consensus. In comparison early this year, with its Q1 2021 financials, PerkinElmer projected $4.4B of GAAP revenue and $9.40 of adjusted EPS for this year. Seeking Alpha contributor Gen Alpha with a buy rating on the stock notes that PerkinElmer “may be a sleep-well-at-night type of investment for long-term investors.”

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PerkinElmer on track to snap winning streak on lower-than-expected guidance