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<p class="has-drop-cap">Thermo Fisher Scientific Inc. (NYSE: TMO) <a href="https://ir.thermofisher.com/investors/news-events/news/news-details/2024/Thermo-Fisher-Scientific-Reports-Third-Quarter-2024-Results/default.aspx" target="_blank" aria-label="announced (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">announced</a> its financial results for the third quarter of 2024, showcasing a steady performance despite challenging market conditions. The company reported a revenue of $10.60 billion for the quarter, a slight increase from $10.57 billion in the same period last year.</p>
<p>This growth was driven by the launch of innovative products, including the Thermo Scientific Iliad scanning transmission electron microscope and the Applied Biosystems MagMAX Sequential DNA/RNA kit. These products are aimed at advancing research in materials and life sciences, contributing to the company’s robust growth strategy.<br><br>The company’s GAAP diluted <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">earnings per share (EPS)</a> for the quarter stood at $4.25, a decrease from $4.42 in the prior year.</p>
<p>However, the adjusted EPS, which excludes certain non-recurring items, was reported at $5.28, reflecting the company’s ability to maintain profitability through strategic initiatives. Thermo Fisher’s operating income for the quarter was $1.84 billion, with an operating margin of 17.3%, slightly down from 17.6% in the previous year.</p>
<h3 id="thermo-fisher-beats-eps-expectations-in-q3-falls-short-on-revenue">Thermo Fisher Beats EPS Expectations in Q3, Falls Short on Revenue</h3>
<p>Thermo Fisher’s third-quarter results exceeded expectations in some areas while falling short in others. The company had set an expectation for an adjusted EPS of $5.25, and it delivered $5.28, surpassing the forecast.</p>
<p>However, the revenue of $10.60 billion fell slightly short of the anticipated $10.63 billion, indicating a minor gap in achieving the expected sales targets.</p>
<p>Despite the revenue shortfall, the company’s performance was bolstered by its strategic initiatives and product launches, which have been pivotal in driving growth. The adjusted operating income was $2.36 billion, down from $2.56 billion in the same quarter last year, reflecting the challenges faced in maintaining margins.</p>
<p>Nonetheless, the company’s focus on core organic revenue growth and strategic partnerships has helped mitigate some of these pressures, showcasing resilience in a competitive market.</p>
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<h3 id="tmo-raises-full-year-eps-guidance-to-21-35-to-22-07-range">TMO Raises Full Year EPS Guidance to $21.35 to $22.07 Range</h3>
<p>Looking ahead, Thermo Fisher has raised its full-year adjusted EPS guidance to a range of $21.35 to $22.07, up from the previous range of $21.29 to $22.07. This upward revision reflects the company’s confidence in its strategic initiatives and its ability to navigate the current economic landscape. The revenue guidance remains at $42.4 to $43.3 billion, indicating a stable outlook for the remainder of the year.</p>
<p>The company is poised to continue its growth trajectory by focusing on innovation and expanding its service offerings.</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-tmo-beats-eps-expectations-in-q3-slight-miss-on-revenue/">Thermo Fisher Scientific Inc. (TMO) Beats EPS Expectations in Q3, Slight Miss on Revenue</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Thermo Fisher Scientific Inc. (TMO) Beats EPS Expectations in Q3, Slight Miss on Revenue

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