COVID-19 Impact on PerkinElmer Inc.’s Revenue and Operations (Medical Devices)
PerkinElmer Inc. (PerkinElmer), is a leading manufacture of products, services and solutions for In Vitro Diagnostics, headquartered in the United States with global manufacturing and sales reach. PerkinElmer’s product range includes the newly launched COVID-19 RT-PCR Test in its In Vitro Diagnostics segment, which is approved by FDA and now available in 30 countries worldwide. The report, COVID-19 Impact on PerkinElmer Inc.’s Revenue and Operations (Medical Devices) presents a deep dive analysis into how PerkinElmer Inc. is placed to respond to the COVID-19 crisis, by examining its sector performance and competitiveness.
Deep dive analysis into how PerkinElmer Inc. is placed to respond to the COVID-19 crisis, by examining its sector performance and competitiveness.
- The global spread of the disease has put much of PerkinElmer’s business at risk, especially in APAC, where the company has a significant presence.
- PerkinElmer was impacted early on in APAC, due to the COVID-19 crisis. The company continued to be affected in Europe and the US once the virus spread to these regions.
- While PerkinElmer reported overall growth of almost 1% in Q1 2020, organic growth decreased by about 1% compared to Q1 2019. This was due to organic revenue losses from Discovery & Analytical Solutions and Diagnostics by 1% each. Therefore, despite revenue losses due to the COVID-19 crisis, the company performed relatively well compared to other companies.
- The company is predicting Q2 2020 revenue of $610 million to $720 million, representing 0% to 15% organic revenue losses. This includes approximately 8% to 15% of COVID-19-related revenue growth, partially offsetting a drop of 15% to 23%.
The report provides a comprehensive analysis of the impact of COVID-19 on PerkinElmer Inc. -
- It provides insights on PerkinElmer Inc.’s exposure to the regions and businesses impacted by the COVID-19 outbreak.
- It offers an overview of the company’s revenue impact by region and market for 2020 due to the COVID-19 outbreak.
Reasons To Buy
- An overview of how PerkinElmer Inc. will be affected by the COVID-19 pandemic.