Involved in Scientific Research? Then you must have heard about MA-based Thermo Fisher Scientific Inc. (TMO - Free Report) one of the leading scientific instrument manufacturers across the world. Interestingly for this acquisition-friendly company, the latest buy out of Life Technologies is expected to give birth to an unrivaled market leader serving research, Specialty Diagnostics and applied markets.
Currently, Thermo Fisher has a Zacks Rank #2 (Buy) but that could change following its promising second-quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The current Zacks Consensus Estimate is pegged at $2.26 per share. Thermo Fisher’s adjusted earnings per share of $2.30 (up 13% year-over-year) in the reported quarter beat this estimate by 1.77%.
Revenues: Thermo Fisher posted second quarter revenues of $4.99 billion in, which has also surpassed the Zacks Consensus Estimate for revenues of $4.91 billion.
Key Stats: Among its four business segments in the reported quarter, Thermo Fisher delivered revenues of $1.40 billion (up 3%) in Life Sciences Solutions, $1.17 billion (up 47%) in Analytical Instruments, $862 million (up 1%) in Specialty Diagnostics and $1.79 billion (up 4%) in Laboratory Products and Services respectively. However on a full-year basis all the four segments have seen increase year-over-year.
Major Factors: Management seemed upbeat about its impressive secondquarter results. The company delivered robust performance on both the top and bottom line on the back of its successful execution of growth strategy plan. Thermo Fisher is currently working on innovations and launching new products in laboratory market. The company also made major progress in precision medicine initiatives. Thermo Fisher also opened Center of Excellence for electron microscopy in Saudi Arabia. The company gained entry into the contract development and manufacturing organization (CDMO) market by announcing agreement to acquire Patheon for $7.2 billion.
Check back later for our full write up on this Thermo Fisher earnings report later!
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