Thermo Fisher Q3 "not too hot, not too cold"
This article was originally published in Clinica
Thermo Fisher Scientific reported third-quarter sales of $3.19bn and adjusted earnings of $1.30 per share that were slightly ahead of analyst consensus of $3.18bn and $1.28 per share, respectively. The results represented revenue growth of 3% year-on-year and EPS expansion of 9% year-on-year. Jefferies analyst Brandon Couillard described the quarter as “not too hot, not too cold.” Meanwhile, Goldman Sachs’ Isaac Ro wrote: “We view this quarter as evidence that Thermo Fisher continues to execute on emerging market and end-market-specific growth strategies.” But he added: “However, we continue to believe the bull case rests on successful integration of the proposed Life [Technologies] transaction and thus we maintain our neutral rating” – Thermo agreed to buy Life for $13.6bn in April (www.clinica.co.uk, 16 April 2013). Mr Couillard, though, rates the company as “buy.” Thermo’s share price rose 2% to close at $97.48 on 23 October, the day it released the results.