Bulletin
Investor Alert

Market Pulse Archives

April 22, 2020, 6:16 a.m. EDT

Thermo Fisher profit and revenue rise above expectations

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Thermo Fisher Scientific Inc. (TMO)
  • X
    Qiagen N.V. (QGEN)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Analytical instruments company Thermo Fisher Scientific Inc. /zigman2/quotes/201150432/composite TMO +2.25% reported Wednesday first-quarter profit and revenue that topped expectations, as revenue beats in its laboratory products, specialty diagnostics and life sciences segments offset a miss in analytical instruments. Net income fell to $788 million, or $1.97 a share, from $815 million, or $2.02 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to $2.94 from $2.81, above the FactSet consensus of $2.80. Revenue grew 2% to $6.23 billion, above the FactSet consensus of $6.17 billion. The company announced last month a deal to buy diagnostics company Qiagen N.V. /zigman2/quotes/204869908/composite QGEN +2.52% for $11.5 billion. "We're clearly living in unprecedented times, and the COVID-19 pandemic has put a spotlight on the importance of the work we do at Thermo Fisher Scientific," said Chief Executive Marc Casper. "Our leading scale and depth of capabilities are key advantages in navigating this environment, and we were pleased to deliver a very good first quarter." The stock, which was still inactive in premarket trading, has lost 6.0% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.34% has shed 17.6%.

/zigman2/quotes/201150432/composite
US : U.S.: NYSE
$ 387.46
+8.53 +2.25%
Volume: 869,176
July 14, 2020 4:00p
P/E Ratio
42.48
Dividend Yield
0.23%
Market Cap
$149.66 billion
Rev. per Employee
$347,971
loading...
/zigman2/quotes/204869908/composite
US : U.S.: NYSE
$ 46.37
+1.14 +2.52%
Volume: 1.72M
July 14, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.32 billion
Rev. per Employee
$303,281
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,197.52
+42.30 +1.34%
Volume: 2.63B
July 14, 2020 5:13p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.