Thermo Fisher Scientific (NYSE: TMO) reported Q1 EPS of $2.50, $0.10 better than the analyst estimate of $2.40. Revenue for the quarter came in at $5.85 billion versus the consensus estimate of $5.62 billion.

First Quarter 2018 Highlights

• First quarter revenue grew 23% to $5.85 billion.
• First quarter GAAP diluted earnings per share (EPS) increased 2% to $1.43.
• First quarter adjusted EPS increased 20% to $2.50.
• Launched new products across our portfolio, including Thermo Scientific Vanquish Duo UHPLC systems for pharma QA/QC, the Thermo Scientific Chromeleon XTR Laboratory Management System and the Ion GeneStudio S5 Series of next-generation sequencing instruments.
• Held first China-U.S. Precision Medicine Summit in Beijing, convening more than 400 thought leaders across government, academia and industry to promote global collaboration in the prevention, diagnosis and treatment of disease.

2018 Guidance Update

Thermo Fisher is raising its 2018 revenue and earnings guidance to reflect strong operational performance, a more significant impact from acquisitions and a more favorable foreign exchange environment. The company is raising its revenue guidance to a new range of $23.62 to $23.86 billion versus its previous guidance of $23.42 to $23.72 billion. This would result in 13 to 14% revenue growth over 2017. The company is raising its adjusted EPS guidance to a new range of $10.80 to $10.96, versus its previous guidance of $10.68 to $10.88, for 14 to 15% growth year over year.

GUIDANCE:

Thermo Fisher Scientific sees FY2018 EPS of $10.80-$10.96. Thermo Fisher Scientific sees FY2018 revenue of $23.62-23.86 billion.

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