Thermo Fisher Scientific (NYSE: TMO) reported Q4 EPS of $3.55, $0.01 better than the analyst estimate of $3.54. Revenue for the quarter came in at $6.83 billion versus the consensus estimate of $6.78 billion.

Fourth Quarter and Full Year 2019 Highlights

• Fourth quarter revenue increased 5% to $6.83 billion.
• Fourth quarter GAAP diluted earnings per share (EPS) increased 12% to $2.49.
• Fourth quarter adjusted EPS increased 9% to $3.55.
• Full year revenue grew 5% to $25.54 billion.
• Full year GAAP diluted EPS increased 27% to $9.17.
• Full year adjusted EPS increased 11% to $12.35.
• Delivered another excellent year of high-impact innovation, launching new products across our businesses, highlighted by the Thermo Scientific Orbitrap Exploris 480 and Eclipse Tribrid mass spectrometers, Thermo Scientific Krios G4 cryo-electron microscope, Applied Biosystems QuantStudio 6 and 7 Pro real-time PCR systems, the addition of numerous allergens to the Thermo Scientific ImmunoCAP menu and, in the fourth quarter, the launch of our new Ion Torrent Genexus next-generation sequencing instrument.
• Built on our industry-leading scale in emerging and high-growth markets, opening new customer solution centers in Seoul and Shanghai for life sciences applications, new centers in Beijing and Delhi for improving food quality and safety, and a new pharma and biotech customer center in Shanghai to accelerate development of new drug therapies.
• Significantly strengthened our pharma services network in 2019 to develop and deliver high-quality medicines to patients around the world by acquiring leading viral vector manufacturer Brammer Bio and the GSK active pharmaceutical ingredient manufacturing site in Ireland, and expanding production capacity at facilities in North America and Europe to support growing demand for biologics and gene therapies.
• Continued to successfully execute our capital deployment strategy during the year, completing $1.8 billion of bolt-on acquisitions, returning $1.8 billion of capital to shareholders through stock buybacks and dividends, and refinancing $5.6 billion of debt to generate $80 million of savings annually.

"We finished the year strong and exceeded the goals we set out to accomplish in 2019," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "From a financial perspective, we again delivered excellent revenue and earnings growth, along with strong cash flow performance.

"We continued to execute our proven growth strategy to create a differentiated experience for our customers and gain share. Across our technology-focused businesses, we extended our leading innovation track record to support our customers' work in life sciences, clinical and applied markets. In high-growth and emerging markets, we opened new solution centers to help our customers address their challenges in a range of applications. We also strengthened our pharma services and bioproduction capabilities through a combination of strategic acquisitions and capacity investments."

Casper added, "We're pleased to deliver another excellent year, and are even more excited about our prospects ahead as we kick off the next decade an even stronger company."

Annual Guidance for 2020

The company will provide 2020 financial guidance during its earnings conference call this morning at 8:30 a.m. Eastern time.

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