Thermo Fisher Scientific Inc. (NYSE: TMO) reported a first-quarter revenue of $10.34 billion, exceeding the consensus estimate of $10.17 billion. However, organic revenue decreased by 4%, primarily due to a decline in the Life Sciences Solutions Segment, which saw a 12.5% revenue drop to $2.29 billion. Analytical Instruments Segment sales declined by 2.1% to $1.69 billion, while Specialty Diagnostics Segment revenues remained relatively flat at $1.1 billion. Laboratory Products and Biopharma Services segment sales decreased by 0.7% to $5.72 billion. Despite the revenue challenges in certain segments, Thermo Fisher’s adjusted EPS of $5.11 surpassed the consensus of $4.71, driven by strong commercial execution and operational discipline. The company’s adjusted operating margin also improved from 21.8% to 22%. Thermo Fisher raised its 2024 sales guidance to $42.3 billion—$43.3 billion, compared to its previous guidance of $42.1 billion—$43.3 billion. Additionally, the company increased its adjusted EPS guidance to $21.14-$22.02 versus its previous guidance of $20.95-$22.00. The company’s shares declined by 0.96% to $569.09 at the last check on Wednesday.
Thermo Fisher Beats Q1 Revenue Estimates, Raises Guidance
