Thermo Fisher beats expectations in Q2
This article was originally published in Clinica
Thermo Fisher Scientific reported second-quarter revenues of $3.24bn (+4% year-on-year) and adjusted earnings of $1.32 per share (+8%), beating analyst consensus of $3.22bn and $1.30, respectively. The firm lowered its revenue guidance to $12.83-12.95bn (from $12.84-13.00bn) on foreign exchange headwinds; but upped the lower end of its EPS guidance to $5.29-5.39 (from $5.27-5.39). “Management continues to execute well in a challenging environment via share gains and solid cost controls,” noted Goldman Sachs analyst Isaac Ro. Meanwhile, Jefferies analyst Brandon Couillard raised his share price target to $102, from $95. The firm’s stock is currently trading at around $90.