Thermo Fisher Scientific Inc. (NYSE:TMO) Reports Mixed Q3 Earnings
- Thermo Fisher's EPS of $5.28 exceeded estimates but showed a year-over-year decline.
- Revenue reached $10.6 billion, slightly missing the consensus estimate.
- The company raised its annual profit forecast, indicating strong demand for its products and services.
Thermo Fisher Scientific Inc. (NYSE:TMO) is a prominent player in the medical instruments industry, known for its innovative tools and services in drug development. The company competes with other industry giants like Danaher. On October 23, 2024, Thermo Fisher reported its third-quarter earnings, showcasing a mixed financial performance.
Thermo Fisher's earnings per share (EPS) for the quarter were $5.28, exceeding the Zacks Consensus Estimate of $5.24 by 0.6%. However, this represents a 7.2% decline from the previous year. The adjusted EPS, which excludes expenses like asset amortization and restructuring costs, was higher than the GAAP EPS of $4.25, which saw a 3.8% year-over-year decrease.
The company's revenue for the quarter was $10.6 billion, slightly below the estimated $10.63 billion. This revenue figure marked a 0.2% increase from the previous year but fell short of the Zacks Consensus Estimate by 0.4%. Despite this, Thermo Fisher has a history of exceeding consensus revenue estimates in three of the past four quarters.
Following the earnings announcement, Thermo Fisher's stock saw a nearly 2% decline in pre-market trading. Despite this, the company remains optimistic, raising the lower end of its annual profit forecast for the third time this year. The new forecast ranges from $21.35 to $22.07 per share, reflecting strong demand for its products and services.
Thermo Fisher's financial metrics reveal a price-to-earnings (P/E) ratio of 35.45 and a price-to-sales ratio of 5.13. The company's enterprise value to sales ratio is 5.86, and its enterprise value to operating cash flow ratio is 27.28. With a debt-to-equity ratio of 0.72 and a current ratio of 1.63, Thermo Fisher demonstrates a balanced financial position.
| Symbol | Price | %chg |
|---|---|---|
| PRDA.JK | 2850 | 1.4 |
| DHR-PB | 1261.26 | 0 |
| DGNS.JK | 234 | -2.56 |
| TMO.NE | 20.17 | -0.25 |
Thermo Fisher Scientific Reports Better Than Expected Q1 Results
Thermo Fisher Scientific (NYSE:TMO) announced its first-quarter earnings and revenue that topped Wall Street forecasts. The company reported an adjusted earnings per share (EPS) of $5.11, which exceeded analyst expectations of $4.71. Its quarterly revenue also surpassed expectations, amounting to $10.34 billion compared to the projected $10.16 billion.
Although revenue saw a slight decline of 3% from the previous year's $10.71 billion, the adjusted EPS reflected a 2% increase from $5.03 reported in the first quarter of 2023. The company's GAAP diluted EPS also grew by 4% to $3.46 from $3.32.
CEO Marc N. Casper praised the strong financial results, crediting the success to the company's effective growth strategy and the PPI Business System. He emphasized Thermo Fisher's focus on customer success, robust commercial execution, and stringent operational discipline as crucial for its standout performance in 2024.
Thermo Fisher updated its full-year 2024 guidance, now expecting revenues to range between $42.3 billion and $43.3 billion, and adjusted EPS to be between $21.14 and $22.02. The projected midpoint for adjusted EPS, at $21.58, slightly surpasses the analyst consensus of $21.53, while the revenue guidance midpoint of $42.8 billion is marginally below the consensus estimate of $42.83 billion.
