Thermo Fisher Scientific Stock Jumps As Q1 Earnings Surpass Consensus

Thermo Fisher Scientific Inc TMO has posted Q1 revenue of $11.82 billion, beating the consensus of $10.63 billion.
Organic revenue growth was 3%, acquisitions increased revenue by 18%, and currency translation decreased revenue by 2%.
Core organic growth was 16%. COVID-19 testing revenue was $1.68 billion.
Revenue from Life Sciences Solutions Segment remained almost stagnant at $4.2 billion. Analytical Instruments Segment sales were up 9.4% to $1.52 billion. Specialty Diagnostics Segment revenues decreased 8.2% to $1.48 billion, and Laboratory Products and Biopharma Services segment sales were up 51.3% to $5.44 billion.
Adjusted EPS of $7.25 topped the consensus of $6.18.
Adjusted operating margin contracted from 35.4% a year ago to 29.2%.
Thermo Fisher repurchased $2.0 billion of stock and increased its dividend by 15% during the quarter.
Price Action: TMO shares are up 6.06% at $552.00 during the premarket session on the last check Thursday.