Thermo Fisher Scientific (TMO) Tops Q3 EPS by 6c; Raises Outlook

Thermo Fisher Scientific (NYSE: TMO) reported Q3 EPS of $2.03, $0.06 better than the analyst estimate of $1.97. Revenue for the quarter came in at $4.49 billion versus the consensus estimate of $4.39 billion.

GUIDANCE:

Thermo Fisher Scientific sees FY2016 EPS of $8.19-$8.30, versus prior guidance of $8.07-$8.20 and the consensus of $8.21. Thermo Fisher Scientific sees FY2016 revenue of $18.25-18.36 billion, versus prior guidance of $17.84-18 billion and the consensus of $18.12 billion.

“We delivered another great quarter, with excellent earnings growth on solid top-line results,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “We drove strong operational performance while successfully executing our growth strategy to position Thermo Fisher for an even brighter future.

“In the quarter, we strengthened our offering for clinical customers by expanding our menu of tests for detecting sepsis, opioids and thyroid disease, and launching new quality control software to ensure the accuracy of results in the clinical laboratory. In Asia-Pacific, we increased our biopharma services capabilities in South Korea and Japan to support the growing number of clinical trials and continue our strong growth momentum in the region.

“We were also pleased to complete our acquisition of FEI earlier than expected. We look forward to the new opportunities we have to create value for our customers, including broadening the use of FEI’s leading imaging technologies in the life science research markets that we serve.”

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

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