PERKINELMER INC Stock Price, News & Analysis

Max Krakowiak has been appointed as the new Chief Financial Officer of PerkinElmer (NYSE:PKI), succeeding Jamey Mock, who is leaving for another opportunity. The transition is effective as of September 6, 2022. Krakowiak has been with PerkinElmer for four years, serving as the Vice President of Corporate Finance and has led key financial initiatives. The company reaffirms its financial guidance provided on August 1, 2022. CEO Prahlad Singh expressed confidence in Krakowiak's capabilities and acknowledged Mock's contributions during his tenure.

New Mountain Capital has announced a definitive agreement to acquire PerkinElmer's Applied, Food, and Enterprise Services businesses for up to $2.45 billion. This acquisition includes OneSource laboratory services and various scientific instruments serving multiple markets, including biopharma and food safety. The deal is expected to close in Q1 2023, pending regulatory approvals. Both companies believe this partnership will enhance strategic growth and innovation in their sectors.

PerkinElmer (NYSE: PKI) reported Q2 2022 revenue of $1.23 billion, unchanged from last year, with GAAP EPS from continuing operations at $1.42, down from $2.19 a year ago. The company initiated Q3 guidance of approximately $1.02-1.03 billion in revenue and adjusted EPS of $1.40-1.45, while raising full-year guidance to $4.60-4.64 billion and adjusted EPS of $7.80-7.90. PerkinElmer also announced an agreement to divest its Applied, Food, and Enterprise Services businesses for $2.45 billion, expected to close in Q1 2023.

PerkinElmer has signed an agreement to divest its Applied, Food, and Enterprise Services businesses to New Mountain Capital for $2.45 billion. Of this, $2.30 billion will be received at closing, with $150 million contingent on future valuations. Post-transaction, PerkinElmer will focus solely on Life Sciences and Diagnostics, projected to generate $3.3 billion in 2022 revenue, with over 10% annual organic growth. The divestiture is expected to close in Q1 2023.

The Board of Directors of PerkinElmer, Inc. (NYSE: PKI) has declared a regular quarterly dividend of $0.07 per share. This dividend is set to be paid on November 11, 2022, to shareholders of record as of the close of business on October 21, 2022. In 2021, the company reported revenue of approximately $5 billion and employs over 16,000 people globally. PerkinElmer is committed to innovation for a healthier world and is a component of the S&P 500 Index.

PerkinElmer, Inc. (NYSE:PKI) has appointed Dr. Michelle McMurry-Heath to its board of directors, effective July 22, 2022. Dr. McMurry-Heath brings extensive experience in research and science policy, having served as President and CEO of the Biotechnology Innovation Organization. Her strong advocacy for equitable access to medical innovations and leadership roles at Johnson & Johnson and the FDA position her well to contribute to PerkinElmer's growth strategy post-portfolio transformation. The company reported revenues of approximately $5 billion in 2021 and continues to prioritize innovation in healthcare.

PerkinElmer, Inc. (NYSE: PKI) will release its Q2 2022 financial results on August 4, 2022, at 6:00 a.m. ET. A conference call will follow at 8:00 a.m. ET, hosted by CEO Prahlad Singh and CFO Jamey Mock. The call will be accessible via a registration form on their website. A replay will be available from 10:00 a.m. ET the same day. The company reported $5 billion in revenue for 2021 and serves customers in 190 countries.

PerkinElmer (NYSE: PKI) launched the GC 2400™ Platform, an innovative automated gas chromatography solution aimed at enhancing lab productivity and precision. Designed for pharmaceutical, food, environmental, and industrial applications, it combines systems, software, and consumables to streamline operations. Key features include automated sampling, reduced hands-on time, and a wireless touchscreen interface. Built-in sensors promote sustainability by minimizing gas consumption. The platform will be showcased at Analytica Germany and Analytica Latin America.

PerkinElmer (NYSE: PKI) has launched the BioQule™ NGS System, an innovative benchtop solution for next-generation sequencing (NGS) library preparation. This system allows labs to automate the process for up to eight samples, featuring integrated quality control and liquid handling technology. Unlike existing solutions, the BioQule provides in-built quantification of created libraries and requires only 10 ng of starting material. It is suitable for various lab sizes and does not necessitate prior automation experience. The system will be showcased at the AGBT General Meeting in Orlando from June 6-9, 2022.