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Thermo Fisher (TMO) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2023, Thermo Fisher Scientific (TMO - Free Report) reported revenue of $10.57 billion, down 1% over the same period last year. EPS came in at $5.69, compared to $5.08 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $10.57 billion, representing a surprise of +0.04%. The company delivered an EPS surprise of +1.97%, with the consensus EPS estimate being $5.58.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Thermo Fisher performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue Growth - Organic: 1% compared to the -2.3% average estimate based on six analysts.
Revenues- Laboratory Products and Biopharma Services: $5.73 billion compared to the $5.87 billion average estimate based on seven analysts. The reported number represents a change of +2.6% year over year.
Revenues- Specialty Diagnostics: $1.08 billion versus the seven-analyst average estimate of $1.09 billion. The reported number represents a year-over-year change of +1.7%.
Revenues- Life Sciences Solutions: $2.43 billion compared to the $2.41 billion average estimate based on seven analysts. The reported number represents a change of -17.9% year over year.
Revenues- Eliminations: -$424 million compared to the -$525.46 million average estimate based on seven analysts.
Revenues- Analytical Instruments: $1.75 billion versus $1.74 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
Operating Income- Life Sciences Solutions: $872 million versus the three-analyst average estimate of $791.50 million.
Operating Income- Analytical Instruments: $468 million versus the three-analyst average estimate of $398.71 million.
Operating Income- Specialty Diagnostics: $283 million versus $229.93 million estimated by three analysts on average.
Operating Income- Laboratory Products and Biopharma Services: $937 million versus the two-analyst average estimate of $1.09 billion.
Shares of Thermo Fisher have returned -8.6% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Thermo Fisher (TMO) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Thermo Fisher Scientific (TMO - Free Report) reported revenue of $10.57 billion, down 1% over the same period last year. EPS came in at $5.69, compared to $5.08 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $10.57 billion, representing a surprise of +0.04%. The company delivered an EPS surprise of +1.97%, with the consensus EPS estimate being $5.58.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Thermo Fisher performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue Growth - Organic: 1% compared to the -2.3% average estimate based on six analysts.
- Revenues- Laboratory Products and Biopharma Services: $5.73 billion compared to the $5.87 billion average estimate based on seven analysts. The reported number represents a change of +2.6% year over year.
- Revenues- Specialty Diagnostics: $1.08 billion versus the seven-analyst average estimate of $1.09 billion. The reported number represents a year-over-year change of +1.7%.
- Revenues- Life Sciences Solutions: $2.43 billion compared to the $2.41 billion average estimate based on seven analysts. The reported number represents a change of -17.9% year over year.
- Revenues- Eliminations: -$424 million compared to the -$525.46 million average estimate based on seven analysts.
- Revenues- Analytical Instruments: $1.75 billion versus $1.74 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
- Operating Income- Life Sciences Solutions: $872 million versus the three-analyst average estimate of $791.50 million.
- Operating Income- Analytical Instruments: $468 million versus the three-analyst average estimate of $398.71 million.
- Operating Income- Specialty Diagnostics: $283 million versus $229.93 million estimated by three analysts on average.
- Operating Income- Laboratory Products and Biopharma Services: $937 million versus the two-analyst average estimate of $1.09 billion.
View all Key Company Metrics for Thermo Fisher here>>>Shares of Thermo Fisher have returned -8.6% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.