Thermo Fisher Scientific (TMO) continues to impress with its strategic partnerships and product launches, but macroeconomic challenges and declining COVID-19 testing demand pose hurdles to its growth. The company’s strong track record of earnings beats and its expansion into new markets suggest long-term potential, but investors should remain aware of the current economic climate.
Thermo Fisher Scientific Inc. reported mixed financial results for the first quarter of 2024, with revenue beating estimates but organic growth declining. Revenue came in at $10.34 billion, a 3% decrease year-over-year but above the consensus of $10.17 billion. Adjusted earnings per share (EPS) of $5.11 surpassed expectations of $4.71 and increased from $5.03 in the prior year quarter. Despite revenue declines in certain segments, the company’s strong commercial execution and operational discipline drove overall performance. Thermo Fisher raised its full-year 2024 guidance, projecting revenue between $42.3 billion and $43.3 billion and adjusted EPS between $21.14 and $22.02.
