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 #3 (Hold) but that could change following its promising fourth-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 $2.66 per share. Thermo Fisher’s adjusted earnings per share of $2.79 is up 16% year-over-year in the reported quarter.
Revenues: Thermo Fisher posted fourth quarter revenues of $6.05 billion, which has also surpassed the Zacks Consensus Estimate for revenues of $5.69 billion.
Key Stats: Among its four business segments in the reported quarter, Thermo Fisher delivered revenues of $1.58 billion (up 11%) in Life Sciences Solutions, $1.41 billion (up 16%) in Analytical Instruments, $0.91 billion (up 10%) in Specialty Diagnostics and $2.40 billion (up 43%) in Laboratory Products and Services respectively.
Major Factors: Management is pleased with the performance of 2017. The company launched innovative new products in the key technology platforms, and enabled breakthroughs in proteomics, genetic analysis and structural biology. The company also gained from high-growth emerging markets, particularly China, India and South Korea. It was also a very active year for strategic M&A.
Stock Price: Following the earnings release, share prices gained 1.31% in the pre-market trading session.
Check back later for our full write up on this Thermo Fisher earnings report later!
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