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

Thermo Fisher Scientific (NYSE: TMO) reported Q1 EPS of $2.08, $0.06 better than the analyst estimate of $2.02. Revenue for the quarter came in at $4.77 billion versus the consensus estimate of $4.68 billion.

First Quarter 2017 Highlights

• Reported revenue of $4.77 billion.
• Reported GAAP diluted earnings per share (EPS) of $1.40.Reported adjusted EPS of $2.08.
• Launched innovative new products across our technology portfolio, including the iCAP triple-quadrupole mass spectrometry system, the first cloud-connected electronic pipette and the microarray-based CarrierScan Assay for the detection of inherited diseases.
• Achieved strong growth in Asia-Pacific markets, particularly China, India and South Korea. Opened new customer demonstration center for electron microscopy in partnership with Tsinghua University in Beijing to advance structural biology applications.
• Completed two strategic bolt-on acquisitions – Finesse Solutions, which adds measurement and control capabilities to strengthen our bioproduction offering, and Core Informatics, provider of a leading cloud-based platform that enhances our digital science strategy.
• Repurchased $500 million of stock during the quarter.

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

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