Thermo Fisher Scientific Inc. (NYSE: TMO) reported third-quarter revenue of $10.59 billion, narrowly missing analyst expectations. While revenue growth improved sequentially, it remained flat compared to the prior year. Despite the revenue miss, adjusted earnings per share beat estimates. The company reaffirmed its 2024 sales guidance and adjusted its EPS guidance slightly upward. TMO shares traded lower following the earnings report.
Thailand’s Department of National Parks, Wildlife, and Plant Conservation (DNP) experienced a remarkable surge in revenue for the fiscal year 2024, reaching THB2.2 billion (approximately $66.36 million). This significant increase reflects a booming tourism sector and the DNP’s dedication to sustainable conservation efforts. The department plans to further enhance its infrastructure and introduce online ticketing to accommodate the growing number of visitors.
Philip Morris International Inc. (PM) exceeded analysts’ expectations for third-quarter revenue, reporting a strong 8.4% year-over-year increase, driven by robust pricing and volume growth, particularly in its smoke-free product segment. The company also raised its fiscal year 2024 earnings outlook for the third time this year, reflecting strong momentum in its iQOS and ZYN products, as well as a steady performance in its traditional cigarette business. Goldman Sachs reiterated its Buy rating on Philip Morris, citing the positive trajectory and the company’s ability to achieve the revised guidance.
GE Aerospace reported strong third-quarter results, exceeding analyst expectations with a 6% revenue increase and a surge in orders. The company raised its earnings and cash flow guidance for the year, citing strong demand and improving engine deliveries. Shares are trading lower premarket, despite the positive performance.
3M Company (MMM) is set to release its third-quarter earnings before the market opens on Tuesday. Analysts expect a dip in revenue due to the recent spin-off of its Health Care business but anticipate positive impacts from strong end markets and cost-saving measures. Additionally, the company’s new CEO is implementing changes to bring employees back to the office, emphasizing collaboration and potentially boosting innovation.
Shares of Similarweb Ltd (SMWB) have surged nearly 77% year-to-date, driven by accelerating revenue growth and improving profitability. Analyst Scott Berg of Needham initiated coverage with a Buy rating and a $11 price target, citing the company’s strong market position and potential for sustained growth.
Australia-based cannabis grower and producer Little Green Pharma (LPG) saw a significant jump in revenue for the quarter ending September 30, 2023, driven by strong growth in European markets, particularly France, where full legalization is expected in 2025. The company’s oil and flower sales increased significantly, highlighting the growing demand for medical cannabis in Europe.
Cantourage Group SE, a leading cannabis company based in Berlin, has announced record revenue for the third quarter of 2024, highlighting the booming potential of the European medical cannabis market. The company’s CEO, Philip Schetter, emphasizes the profitability and growth potential of medical cannabis, particularly in Germany, and predicts a continued rise in cannabis therapy adoption.
Iridium Communications Inc. (IRDM) stock jumped over 14% after the company reported better-than-expected third-quarter revenue, exceeding analyst estimates. The company also revised its FY24 OEBITDA guidance upwards, signaling strong growth prospects. Iridium’s robust subscriber growth, driven by commercial IoT adoption, and its commitment to shareholder returns through dividends and share buybacks contributed to the positive market sentiment.
First Community Bank (FCCO) exceeded both earnings and revenue expectations for the third quarter of 2024, showcasing strong financial performance. This positive trend, coupled with a favorable Zacks Rank #1 (Strong Buy), suggests the stock is poised for future market outperformance. The company’s earnings outlook and the broader industry trends will be key factors to monitor going forward.
