Thermo Fisher Scientific (TMO) Tops Q3 EPS by 7c, Revenues Beat; Boosts FY18 EPS/Revenue Outlook Above Consensus

Thermo Fisher Scientific (NYSE: TMO) reported Q3 EPS of $2.62, $0.07 better than the analyst estimate of $2.55. Revenue for the quarter came in at $5.92 billion versus the consensus estimate of $5.7 billion.

• Grew revenue 16% to $5.92 billion.
• Increased GAAP diluted earnings per share (EPS) 31% to $1.75.
• Increased adjusted EPS 13% to $2.62.

"We were pleased to build on our momentum with another quarter of outstanding revenue and earnings growth," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "Our team is effectively leveraging our unique customer value proposition and executing well to capitalize on the strength of our global end markets.

"Consistent with our growth strategy, we continued to strengthen our innovation leadership by launching high-impact products across life sciences, clinical and applied markets. Our increasing scale in Asia-Pacific and emerging markets remains a key competitive advantage, and we delivered strong performance in the region, led by China. Last, our pending acquisition of Advanced Bioprocessing will enhance our customer value proposition by adding complementary capabilities to meet increasing demand for biologics."

Casper added, "With three strong quarters behind us, we\'re in a great position to deliver an outstanding year."

GUIDANCE:

Thermo Fisher Scientific sees FY2018 EPS of $11.00-$11.06, versus the consensus of $10.99. Thermo Fisher Scientific sees FY2018 revenue of $23.99-24.09 billion, versus the consensus of $23.86 billion.

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

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