Casper

Ascend

2024

Stellar

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<p class="has-drop-cap">Thermo Fisher Scientific Inc. (NYSE: TMO), the global leader in serving science, has released its <a href="https://ir.thermofisher.com/investors/news-events/news/news-details/2024/Thermo-Fisher-Scientific-Reports-Second-Quarter-2024-Results/default.aspx" target="_blank" aria-label="financial results for the second quarter of 2024 (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">financial results for the second quarter of 2024</a>, ending June 29. The company reported a revenue of $10.54 billion, reflecting a slight decline of 1% compared to the $10.69 billion recorded in the same quarter last year.</p>
<p>Despite the revenue dip, Thermo Fisher saw a significant improvement in its GAAP diluted earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>), which rose by 15% to $4.04. Adjusted EPS also saw an increase, albeit a smaller one, growing by 4% to $5.37. The company attributes its strong performance to the successful execution of its growth strategy, which included launching several innovative products and expanding its global footprint.</p>
<p>In addition to financial achievements, Thermo Fisher made strategic advancements in the quarter. The company introduced a range of new analytical instruments at the American Society for Mass Spectrometry conference. <br><br>These innovations include the Thermo Scientific Stellar mass spectrometer and three new editions of the Thermo Scientific Orbitrap Ascend Tribrid mass spectrometer, tailored for MultiOmics, Structural Biology, and BioPharma applications. <br><br>The company also expanded its clinical trial supply services with a new ultra-cold facility in the Netherlands and a state-of-the-art innovation lab in Pennsylvania. The acquisition of Olink, a provider of next-generation proteomic solutions, further bolstered Thermo Fisher’s capabilities in protein research.</p>
<h3 id="thermo-fisher-beats-eps-and-revenue-expectations-in-q2-2024">Thermo Fisher Beats EPS and Revenue Expectations in Q2 2024</h3>
<p>Analysts had anticipated an EPS of $5.12 and revenue of $10.5 billion. The company exceeded revenue expectations by reporting $10.54 billion, and the adjusted EPS of $5.37 surpassed the forecasted $5.12, demonstrating strong earnings performance. <br><br>However, the GAAP diluted EPS of $4.04, despite its 15% year-over-year increase, fell short of the adjusted EPS expectations due to the impact of one-time charges and adjustments.</p>
<p>The company’s operating income also saw improvements. GAAP operating income for the second quarter grew to $1.82 billion, up from $1.58 billion in the same period last year. The operating margin increased to 17.3% from 14.8%. Adjusted operating income, however, showed a slight decline, coming in at $2.35 billion compared to $2.37 billion last year. Despite this, the adjusted operating margin saw a marginal increase from 22.2% to 22.3%.</p>
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<h3 id="tmo-ups-guidance-expects-eps-in-a-range-of-21-29-to-22-07">TMO Ups Guidance, Expects EPS in a Range of $21.29 to $22.07</h3>
<p>The company now expects its revenue to range between $42.4 billion and $43.3 billion, up from the previous guidance of $42.3 billion to $43.3 billion. <br><br>The adjusted EPS guidance has also been revised upwards to a range of $21.29 to $22.07, compared to the earlier forecast of $21.14 to $22.02. This optimistic outlook reflects confidence in the company’s growth strategy and market position, bolstered by recent acquisitions and product launches.</p>
<p>CEO Marc N. Casper expressed optimism about the company’s future, citing the successful execution of their growth strategy and the positive impact of the PPI Business System. <br><br>He highlighted the acquisition of Olink and the launch of new products as key drivers for future growth. Casper emphasized that Thermo Fisher is well-positioned for continued success, having made substantial progress in the first half of the year.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/thermo-fisher-scientific-inc-nyse-tmo-achieves-15-growth-in-q2-diluted-eps/">Thermo Fisher Scientific Inc. (NYSE: TMO) Achieves 15% Growth in Q2 Diluted EPS</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Thermo Fisher Scientific Inc. (NYSE: TMO) Achieves 15% Growth in Q2 Diluted EPS

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