Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Thermo Fisher (TMO) Beats Q1 Earnings, Revenue Estimates

Involved in Scientific Research? Then you must have heard about MA-based Thermo Fisher Scientific, Inc. TMO, one of the leading scientific instrument manufacturers across the world. Interestingly for this acquisition-friendly company, following its latest buy out of Affymetrix is the company will enjoy an extended antibody portfolio.

Currently, Thermo Fisher has a Zacks Rank #3 (Hold) but that could change following its impressive first-quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings:The Zacks Consensus Estimate remained steady at $1.74 per share over the last 30 days. Thermo Fisher’s adjusted earnings per share of $1.80 beat this estimate by 3.4%.

Revenues:Thermo Fisher posted revenues of $4.295 billion, beating the Zacks Consensus Estimate for revenues of $4.122 billion.

Key Stats: Among its four business segments, Thermo Fisher delivered revenues of $1.13 billion (up 11%) in Life Sciences Solutions, $759 million (up 4%) in Analytical Instruments, $855 million (up 9%) in Specialty Diagnostics and $1.72 billion (up 14%) in Laboratory Products and Services respectively.

Major Factors: Thermo Fisher commenced 2016 with a solid start.During the quarter, Thermo Fisher deployed $2.4 billion of capital on M&A, stock buybacks and dividend to create value for both customers and shareholders. Management also seemed upbeat about the acquisition of Affymetrix, which the company completed at quarter-end..

Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this Thermo Fisher earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
THERMO FISHER (TMO): Free Stock Analysis Report
 
To read this article on Zacks.com click here.