Investing.com -- Thermo Fisher Scientific Inc., a leading scientific instruments maker, reported third-quarter earnings that surpassed analyst expectations, while revenue fell slightly short of estimates. The company also raised the lower end of its full-year earnings guidance.
Thermo Fisher (NYSE:TMO) posted adjusted earnings per share (EPS) of $5.28 for the quarter ended September 28, 2024, beating the analyst consensus of $5.25. Revenue for the period came in at $10.60 billion, marginally below the $10.63 billion analysts had projected and flat compared to the same quarter last year.
The company's chairman, president and CEO, Marc Casper, stated, "We are pleased to deliver strong financial results in the third quarter, reflecting another quarter of sequential improvement in growth. Our trusted partner status is resonating strongly with customers, and this is translating into meaningful commercial wins."
Following the earnings release, Thermo Fisher's stock dipped 0.6% premarket.
For the full year 2024, Thermo Fisher raised the lower end of its adjusted EPS guidance to a new range of $21.35 to $22.07, up from the previous range of $21.29 to $22.07. The company maintained its revenue guidance of $42.4 billion to $43.3 billion.
During the quarter, Thermo Fisher launched several products, including the Thermo Scientific Iliad scanning transmission electron microscope for advanced materials research and the Applied Biosystems MagMAX Sequential DNA/RNA kit for cancer research.
The company's adjusted operating margin decreased to 22.3% from 24.2% YoY.