Thermo Fisher Scientific (TMO) Tops Q1 EPS by 6c

Thermo Fisher Scientific (NYSE: TMO) reported Q1 EPS of $1.80, $0.06 better than the analyst estimate of $1.74. Revenue for the quarter came in at $4.29 billion versus the consensus estimate of $4.11 billion.

“We’re pleased with our strong start to the year,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “We delivered excellent EPS growth on great top-line performance, demonstrating that our growth strategy is clearly working.

“We made good progress in implementing our plans to meet the needs of our customers, and effectively deployed our capital to create shareholder value. We kicked off the year with a number of new product launches at Pittcon, including our Integrion HPIC system, which sets a new standard of performance for customers in applied markets. We also had a strong start across all of our major geographies, led by very strong performance in China.

“During the quarter, we deployed $2.4 billion of capital on M&A, stock buybacks and our dividend to create value for both customers and shareholders. I’m excited about our acquisition of Affymetrix, which we completed at quarter-end. This is another great example of how we continue to enhance our customer value proposition.

“In summary, with an excellent first quarter behind us, we’re positioned to deliver a strong 2016.”

For earnings history and earnings-related data on Thermo Fisher Scientific (TMO) click here.

You May Also Be Interested In

• Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
• COPT Defense Properties (CDP) Reports In-Line Q1 EPS; offers guidance
• Alphabet (GOOG) Tops Q1 EPS by 38c