Thermo Fisher Q3 Earnings Beat Street View, With 14% Organic Sales Growth

  • Thermo Fisher Scientific Inc TMO has posted Q3 revenue of $10.68 billion, up 14% Y/Y, including a 14% core organic revenue growth, beating the consensus of $9.92 billion.
  • Organic revenue growth was down 1%, acquisitions increased revenue by 20%, and currency translation decreased revenue by 5%. 
  • COVID-19 testing revenue was $0.44 billion.
  • Revenue from Life Sciences Solutions Segment declined 20.4% to $2.96 billion. Analytical Instruments Segment sales were up 9.8% to $1.62 billion. Specialty Diagnostics Segment revenues decreased by 21.8% to $1.065 billion, and Laboratory Products and Biopharma Services segment sales were up 60% to $5.58 billion.
  • Adjusted EPS of $5.08 topped the consensus of $4.82.
  • Adjusted operating margin contracted from 29.8% to 22.2%.
  • Price Action: TMO shares are up 4.93% at $539.99 during the premarket session on the last check Wednesday.
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