Revenue Performance - Second quarter revenue declined 1% to $10.54 billion in 2024, compared to $10.69 billion in 2023[5] - Revenues for the three months ended June 29, 2024, were $10,541 million, a slight decrease from $10,687 million in the same period last year[21] - Revenues for the six months ended July 1, 2023, were $21.397 billion, representing a decrease from $20.886 billion in the same period in 2024[23] - Life Sciences Solutions segment revenue decreased to $2,355 million (22.3% of total revenue) in Q2 2024 from $2,463 million (23.0% of total revenue) in Q2 2023[38] - Laboratory Products and Biopharma Services segment revenue was $5,758 million (54.6% of total revenue) in Q2 2024, down from $5,831 million (54.6% of total revenue) in Q2 2023[38] Earnings and Profitability - GAAP diluted EPS increased 15% to $4.04 in Q2 2024, compared to $3.51 in Q2 2023[16] - Adjusted EPS increased 4% to $5.37 in Q2 2024[13] - GAAP operating income grew to $1.82 billion in Q2 2024, compared to $1.58 billion in Q2 2023[16] - GAAP operating margin increased to 17.3% in Q2 2024, compared to 14.8% in Q2 2023[16] - Net income attributable to Thermo Fisher Scientific Inc. rose to $1,548 million (14.7% of revenues) from $1,361 million (12.7% of revenues)[21] - Adjusted operating income (non-GAAP) was $2,347 million (22.3% of revenues), compared to $2,370 million (22.2% of revenues) in the prior year[21] - Adjusted EPS (non-GAAP) increased to $5.37 from $5.15 year-over-year[21] - Adjusted EPS in Q2 2024 increased 4% to $5.37 compared to $5.15 in Q2 2023[33] - Adjusted operating income for Q2 2024 was $2.35 billion, slightly down from $2.37 billion in Q2 2023[33] - Adjusted operating margin improved to 22.3% in Q2 2024 from 22.2% in Q2 2023[33] - Net income attributable to Thermo Fisher Scientific Inc. for the six months ended July 1, 2023, was $2.650 billion, compared to $2.875 billion in 2024[23] - Adjusted operating income (non-GAAP measure) for the six months ended July 1, 2023, was $4.700 billion, slightly higher than $4.625 billion in 2024[23] - Adjusted EPS (non-GAAP measure) for the six months ended July 1, 2023, was $10.18, compared to $10.47 in 2024[23] Guidance and Forecast - Thermo Fisher raised its full-year revenue guidance to a new range of $42.4 to $43.3 billion[6] - Adjusted EPS guidance for the full year was raised to a new range of $21.29 to $22.07[6] Acquisitions and Product Launches - The company completed the acquisition of Olink, a provider of next-generation proteomic solutions[4] - Thermo Fisher launched several new products, including the Thermo Scientific™ Stellar™ mass spectrometer and ENERGY STAR-certified ULT Freezers[3] Geographic Expansion - The company expanded its presence in Indonesia to support healthcare, scientific research, and renewable energy investments[14] Cash Flow and Financial Position - Free cash flow (non-GAAP) improved to $1,674 million from $1,260 million in the same period last year[21] - Free cash flow (non-GAAP measure) for the six months ended July 1, 2023, was $1.537 billion, lower than $2.583 billion in 2024[23] - Free cash flow (non-GAAP measure) increased to $2,583 million from $1,537 million[27] - Net cash provided by operating activities for the six months ended June 29, 2024, was $3,211 million, up from $2,269 million in the same period of 2023[43] - Cash, cash equivalents, and restricted cash decreased to $7,097 million at the end of June 2024 from $8,097 million at the beginning of the period[43] Costs and Expenses - Cost of revenues decreased to 57.9% of revenues from 59.2% in the prior year[21] - Research and development expenses remained stable at 3.2% of revenues[21] - Consolidated depreciation expense for 2024 was $562 million, compared to $523 million in 2023[25] - Adjusted results in 2024 and 2023 exclude charges for inventory write-downs and accelerated depreciation on manufacturing assets[24] - Adjusted results in 2024 and 2023 exclude restructuring and other costs, including severance and impairments of long-lived assets[24] Non-GAAP Measures - The company excludes acquisition-related costs and restructuring expenses from non-GAAP measures as they are not indicative of normal operating costs[44][45] - Free cash flow is reported as operating cash flow excluding net capital expenditures, indicating the company's ability to generate cash for acquisitions and other activities[46] - Non-GAAP financial measures are not considered superior to GAAP measures, with reconciliations provided in the press release[47] COVID-19 Impact - COVID-19 testing revenue declined by 1% year-over-year[22] Organic Growth - Organic revenue growth (non-GAAP) was -1%, with core organic revenue growth (non-GAAP) at 0% for the three months ended June 29, 2024[22] Balance Sheet - Total current assets as of June 29, 2024, were $25.476 billion, up from $24.589 billion as of December 31, 2023[26] - Total liabilities, redeemable noncontrolling interest, and equity as of June 29, 2024, were $98.496 billion, slightly down from $98.726 billion as of December 31, 2023[26] Company Outlook - The company has made significant progress and is well-positioned for differentiated performance in 2024[49]

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The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 24. On the other hand, if they miss, the stock may move lower. Revenues are expected to be $10.51 billion, down 1.7% from the year-ago quarter. Wall Street expects a year-over-year decline in earnings on lower revenues when Thermo Fisher Scientific (TMO) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging th ...

Thermo Fisher Scientific Inc. (TMO) is slated to release second-quarter 2024 results on Jul 24, before market open. Thermo Fisher's first-quarter earnings of $5.11 per share beat the Zacks Consensus Estimate by 8.7%. Its earnings missed estimates in one of the trailing four quarters and beat in the other three, the average surprise being 1.52%. Q2 Estimates The Zacks Consensus Estimate for second-quarter revenues is pegged at $10.51 billion, suggesting a 1.6% decline from the prior-year quarter's reported f ...

Loading... Loading... Stocks tend to sell off after they reach resistance. They also tend to rally off of support. These dynamics can be seen on the chart of Thermo Fisher Scientific Inc. TMO. This is why our trading team has selected it as our Stock of the Day. Thermo Fisher Scientific · 1D · NYSE · 0 0 · 0546.59 H549.61 L543.85 C548.73 +0.63 (+0.12%) 610.00 600.00 590.00 560.00 2024 Feb Mar May Jun Jul Aug Resistance is a large group or concentration of sellers who are looking to sell at, or close to, the ...

Thermo Fisher Scientific Inc. (TMO) recently announced a partnership with the National Cancer Institute ("NCI") for the myeloMATCH (Molecular Analysis for Therapy Choice) precision medicine umbrella trial. Under the trial, patients' bone marrow and blood will be tested for certain genetic biomarkers using Thermo Fisher's next-generation sequencing ("NGS") technology. With this, clinical sites can quickly match patients with an appropriate clinical trial that tests a treatment designed to target specific mut ...

Investors with an interest in Medical - Instruments stocks have likely encountered both Thermo Fisher Scientific (TMO) and Idexx Laboratories (IDXX) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out. Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels. TMO currently has a forward P/E ratio of 24.80, while IDXX has a forward P/E of ...

A few of its recent strategic acquisitions that are likely to drive future growth include its plan to acquire Olink Holdings for $26.00 per common share in cash, which was announced in October. The acquisition is expected to enhance Thermo Fisher's capabilities in the high-growth proteomics market with the addition of highly differentiated solutions. Through the acquisition, the company expects to deliver $125 million in adjusted operating income synergies in the fifth year, driven by revenue synergies and ...

The new 65,000-square-foot space in Covington, KY, will expand the company's sample management and biorepository operations. The latest development will be in addition to its existing site in nearby Highland Heights. More on the News Thermo Fisher Scientific Inc. (TMO) recently announced the expansion of its central laboratory operations in Kentucky under its PPD clinical research business. The latest addition will help TMO to accelerate pharmaceutical and biotech customers' delivery of safe, effective medi ...

Thermo Fisher Scientific (TMO) recently unveiled the PlasmidPro Maxi Processor (PlasmidPro), its latest addition to the Thermo Scientific KingFisher instrument portfolio. The solution has a comprehensive range of key features that sets it apart as the only fully automated maxi-scale plasmid DNA (pDNA) purification system. Image Source: Zacks Investment Research Thermo Fisher is addressing the rapidly growing demand for plasmid DNA purification for emerging therapies with a new 'press and go' solution to spe ...