Thermo Fisher Scientific Inc.'s (TMO) first-quarter 2024 adjusted earnings per share (EPS) of $5.11 topped the Zacks Consensus Estimate by 8.7%. The figure also rose 1.6% year over year.The adjusted number excludes certain non-recurring expenses, including asset amortization costs and certain restructuring costs.GAAP EPS was $3.46, up 4.2% on a year-over-year basis.Revenues in DetailRevenues in the quarter totaled $10.35 billion, down 3.4% year over year. The top line surpassed the Zacks Consensus Estimate ...

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $10.34 billion, with adjusted operating income of $2.28 billion and an adjusted operating margin of 22%, reflecting a 2% year-over-year increase in adjusted EPS to $5.11 per share [49][81] - Adjusted operating income for Specialty Diagnostics increased by 5%, with an adjusted operating margin of 26.5%, which is 120 basis points higher than Q1 2023 [1] - In the Laboratory Products and Biopharma Services segment, both reported revenue and organic growth decreased by 1% in Q1 compared to the prior year quarter, with adjusted operating income declining by 6% and adjusted operating margin at 13% [2] Business Line Data and Key Metrics Changes - Life Sciences Solutions segment reported a 13% decline in revenue, with organic revenue down 12%, driven by lower pandemic-related revenue and activity levels in bioproduction [36] - The Analytical Instruments segment saw a 2% decline in reported revenue and a 1% decrease in organic growth, with strong performance in electron microscopy but unfavorable volume mix impacting margins [71] - The Specialty Diagnostics business experienced flat revenue but strong underlying growth in transplant diagnostics and immunodiagnostics [1] Market Data and Key Metrics Changes - In Q1, North America experienced a mid-single-digit decline, Europe saw a low single-digit decline, and Asia-Pacific and China also declined in the low single-digits [82] - The company expects core organic revenue growth for 2024 to be in the range of minus 1% to positive 1%, with market declines anticipated in low single-digits [3] Company Strategy and Development Direction - The company is raising its 2024 full-year guidance, expecting revenue between $42.3 billion and $43.3 billion, with adjusted EPS in the range of $21.14 to $22.02 [3][4] - The growth strategy focuses on high-impact innovation, trusted partner status with customers, and an unparalleled commercial engine [55] - The company is leveraging its PPI Business System to enhance execution and manage costs effectively while funding long-term investments [4][72] Management's Comments on Operating Environment and Future Outlook - Management noted a modest pickup in economic activity is expected as the year progresses, supported by improvements in the biotech funding environment and a stimulus program announced by China [12][54] - The management expressed confidence in the long-term growth potential of the industry, driven by durable growth from strong science and unmet medical needs [12] - The company is not assuming significant changes in China for the current year but sees potential for growth in 2025 [29] Other Important Information - The company plans to return approximately $600 million to shareholders through dividends and has completed $3 billion in share buybacks [5][34] - The adjusted income tax rate is expected to be 10.5% in 2024, with net capital expenditures projected between $1.3 billion and $1.5 billion [5] Q&A Session Summary Question: How did the quarter progress and what informs the outlook for the balance of the year? - Management indicated that market conditions were in line with expectations, with strong execution leading to financial performance ahead of expectations, allowing for a raised full-year outlook [12] Question: What are the dynamics in the CRO and CDMO businesses? - Management noted strong execution in the clinical research business, with a positive pipeline of activity, although it takes time to materialize into revenues [15] Question: What gives confidence in the biotech funding environment and stimulus in China? - Management highlighted improvements in biotech funding and early stimulus announcements as positive indicators, although they remain cautious about immediate impacts [18][29] Question: How is the performance of analytical instruments, particularly chromatography and mass spectrometry? - Management reported strong performance in electron microscopy and good uptake on new products, despite tough comparisons from the previous year [20] Question: How is the clinical research business performing amidst COVID-related headwinds? - Management confirmed strong growth in clinical research, with no adjustments for COVID impacts, and expects continued momentum in the mid-term [22] Question: How is the company addressing competitive dynamics in pharma services? - Management expressed confidence in their market leadership and high activity levels, indicating a strong position amidst industry changes [24] Question: What is the outlook for the China market and its impact on demand trends? - Management stated that the performance in China met expectations, with no significant changes noted, and they look forward to returning for firsthand insights [39]

For the quarter ended March 2024, Thermo Fisher Scientific (TMO) reported revenue of $10.35 billion, down 3.4% over the same period last year. EPS came in at $5.11, compared to $5.03 in the year-ago quarter.The reported revenue represents a surprise of +2.02% over the Zacks Consensus Estimate of $10.14 billion. With the consensus EPS estimate being $4.70, the EPS surprise was +8.72%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

Exhibit 99.1 News FOR IMMEDIATE RELEASE Media Contact Information: Sandy Pound Thermo Fisher Scientific Thermo Fisher Scientific Phone: 781-622-1223 Phone: 781-622-1356 E-mail: sandy.pound@thermofisher.com E-mail: rafael.tejada@thermofisher.com Investor Contact Information: Rafael Tejada Thermo Fisher Scientific Reports First Quarter 2024 Results WALTHAM, Mass. (April 24, 2024) – Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today reported its financial results for the firs ...

Thermo Fisher Scientific Inc. (TMO) is slated to release first-quarter 2024 results on Apr 24, 2024, before market open.Thermo Fisher’s earnings of $5.67 per share in the last reported quarter topped the Zacks Consensus Estimate by 0.5%. Its earnings surpassed estimates in three of the trailing four quarters, the average negative surprise being 0.26%.Let's discuss the factors that are likely to be reflected in the upcoming results.Factors at PlayThermo Fisher’s Analytical Instruments segment is expected to ...

Thermo Fisher (NYSE:TMO) layoffs are in the news Tuesday after the biopharma services company announced job cuts at its California plasmid manufacturing location.According to these latest reports, Thermo Fisher is going to cut 74 jobs from the facility starting May 31, 2024. The layoffs are part of the company’s efforts to adjust staffing levels at the manufacturing plant.Thermo Fisher has confirmed the layoffs in a statement to Fierce Pharma. In it a company spokesperson noted that there are “times when we ...

Thermo Fisher Scientific (TMO) recently introduced the TSX Universal Series ultra-low temperature (ULT) freezers with enhanced performance, user experience and energy efficiency. The new line of high-performance freezers seamlessly adapts to scientists’ workflows across a variety of lab settings, marking a new era in performance, reliability and sustainability.The latest development from Thermo Fisher builds on 80 years of expertise in engineering cold storage lab equipment. The company continues to support ...

Thermo Fisher Scientific (TMO) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this maker of scientific instrument and laboratory supplies have returned -2.6% over the past month versus the Zacks S&P 500 composite's +1.6% change. The Zacks Medical - Instruments industry, to which Thermo Fisher belongs, has lost 0.3% over this period. Now the key question is: Where coul ...

Thermo Fisher Scientific (TMO) recently announced the introduction of its new metrology solution — the Thermo Scientific LInspector Edge In-line Mass Profilometer. Designed to address the needs of the rapidly growing battery market, the device delivers full-width electrode mass loading measurement and provides battery manufacturers with the data needed to make better, safer batteries more efficiently.The new LInspector Edge In-line Mass Profilometer represents the first in a new generation of battery proces ...

In the latest trading session, Thermo Fisher Scientific (TMO) closed at $580.05, marking a -0.46% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.89%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 1.25%.Shares of the maker of scientific instrument and laboratory supplies have appreciated by 6.31% over the course of the past month, outperforming the Medical sector's gain of 0.72% and the S&P 500's gain of 3.56%.Investors will be eager ...