Thermo Fisher Scientific (TMO) Tops Q2 EPS by 3c; Raises Outlook

Thermo Fisher Scientific (NYSE: TMO) reported Q2 EPS of $2.30, $0.03 better than the analyst estimate of $2.27. Revenue for the quarter came in at $4.99 billion versus the consensus estimate of $4.92 billion.

GUIDANCE:

Thermo Fisher Scientific sees FY2017 EPS of $9.15-$9.28, versus the consensus of $9.23.

Thermo Fisher is raising its 2017 guidance to reflect strong second quarter operational performance and a less adverse foreign exchange environment, partially offset by increased interest expense from the recently completed bond offering. The company is raising its revenue guidance to a new range of $19.71 to $19.89 billion versus its previous guidance of $19.51 to $19.71 billion. This would result in 8 to 9 percent revenue growth over the previous year. The company is raising its adjusted EPS guidanceto a new range of $9.15 to $9.28, versus the $9.12 to $9.28 previously communicated, for 11 to 12 percent growth over 2016.

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