Core Insights - Thermo Fisher Scientific has launched the Invitrogen EVOS S1000 Spatial Imaging System, which enhances fluorescent microscopy by allowing researchers to create high-quality multiplexed images of multiple samples in a few hours, facilitating advancements in spatial tissue proteomics [1][5][6] Company Developments - The EVOS S1000 system is now commercially available in the United States and Europe, providing essential tools for researchers to better understand complex biological systems and develop new treatments for various diseases [2] - Following the announcement of the new system, TMO shares experienced a decline of 1.3%, closing at $538, although the company continues to benefit from past innovations and the introduction of impactful new products [3] - Thermo Fisher has a market capitalization of $208.55 billion, with a Zacks Consensus Estimate predicting a 2.4% increase in both earnings and revenues year-over-year [4] Product Significance - The EVOS S1000 utilizes advanced spectral technology to capture images of up to 9 different targets simultaneously, reducing the need for multiple imaging rounds and preserving tissue integrity, which is crucial for developing treatments for solid tumors and neurodegenerative diseases [5][6] - The system provides detailed insights into tissue microenvironments and architecture, enabling researchers to accelerate experiments and enhance their research capabilities [6] Industry Outlook - The Spatial Proteomics market is projected to grow from $92.4 million in 2024 at a compound annual growth rate of 12.7% through 2030, driven by advancements in imaging techniques, mass spectrometry, and artificial intelligence [7]

Investment Rating - The report maintains a "BUY" rating for Thermo Fisher, with a target price raised from US$670 to US$690, indicating an upside potential of 18.5% from the current price of US$582.38 [3][7]. Core Insights - Thermo Fisher delivered a strong performance in 4Q24, with revenue growth of 4.7% YoY and adjusted EPS growth of 7.6%, surpassing consensus estimates [1][7]. - The company anticipates revenue growth of 1.4-2.6% YoY and adjusted EPS growth of 5.7-7.5% YoY for 2025, reflecting a positive outlook [1][7]. - A robust demand outlook is expected to continue, driven by pharmaceutical innovation and a favorable biotech funding environment, with management projecting long-term industry growth of 4-6% and organic growth for Thermo Fisher of 7-9% [7][8]. - The company plans to invest US$1.4-1.7 billion in capital expenditures in 2025, marking an 11% YoY increase, the first such growth since 2021 [7]. Financial Summary - For FY24, Thermo Fisher reported revenue of US$42,879 million, with a slight YoY growth of 0.1%. The forecast for FY25 is US$44,129 million, representing a growth of 2.9% YoY [2][15]. - Adjusted net profit for FY24 was US$8,380 million, with an expected increase to US$8,852 million in FY25, reflecting a growth of 5.6% YoY [2][15]. - The adjusted EPS for FY24 was US$21.94, projected to rise to US$23.38 in FY25, indicating a growth of 6.6% [2][15]. Segment Performance - In 4Q24, all business segments showed sequential improvements, with Life Science growing by 5.5% YoY, Analytical Instruments by 7.3% YoY, and Laboratory Products and Biopharma Services by 3.8% YoY [7][8]. - The clinical CRO business experienced low single-digit growth in 2024, while the demand from China showed signs of recovery, with low single-digit growth in revenue [7][8]. Market Position - Thermo Fisher's market capitalization stands at approximately US$222.47 billion, with significant institutional ownership from Vanguard (8.6%) and BlackRock (7.6%) [3][4]. - The stock has shown a 1-month performance of 8.4% and a 3-month performance of 4.1%, indicating positive market sentiment [5][6].

Core Insights - The article emphasizes that past performance does not guarantee future results, using Thermo Fisher Scientific (NYSE: TMO) as a case study [1][3] - The author has a long position in TMO shares, indicating a belief in the company's potential for future growth [2] Company Analysis - Thermo Fisher Scientific is highlighted as a stock that has shown strong historical performance, but the article cautions that this may not be indicative of future results [1] - The author focuses on long-term investment strategies, suggesting that TMO may be a suitable candidate for investors looking to maximize total returns over time [1] Investment Strategy - The investment approach discussed involves buying stocks when their prices are low relative to their intrinsic value, which could apply to TMO if it presents such an opportunity [1] - The author prefers to hold positions for the long term unless there is a compelling reason to sell, which aligns with a conservative investment philosophy [1]

Core Insights - Thermo Fisher Scientific's shares rose after the company reported fourth-quarter results that exceeded analysts' expectations [1][2] - The company achieved revenue of $11.4 billion, representing a year-over-year increase of approximately 5%, surpassing the Visible Alpha consensus of $11.28 billion [1] - Profit for the quarter was reported at $1.83 billion, or $4.78 per share, which is an increase from $4.20 per share a year ago [1] - Adjusted earnings per share (EPS) of $6.10 also exceeded expectations [1] Revenue Performance - Sales increased across all four divisions of the company, with the largest segment, Laboratory Products and Biopharma Services, seeing a revenue rise of 4% [2] - This performance contrasts with the previous quarter, where sales were flat or declined in two segments [2] Stock Performance - Following the positive earnings report, Thermo Fisher's shares experienced a 6.6% intraday increase, after being roughly flat over the prior 12 months [2]

Core Insights - Thermo Fisher Scientific Inc. reported fourth-quarter 2024 adjusted earnings per share (EPS) of $6.10, exceeding the Zacks Consensus Estimate by 2.9% and reflecting a year-over-year increase of 7.6% [1][2] - The company’s full-year adjusted EPS reached $21.86, a 1.4% increase from 2023, surpassing the Zacks Consensus Estimate by 0.8% [2] - Following the earnings announcement, shares of Thermo Fisher rose 1.2% in pre-market trading [2] Revenue Performance - Revenues for the fourth quarter increased by 4.6% year over year to $11.39 billion, surpassing the Zacks Consensus Estimate by 1.2% [3] - Full-year revenues totaled $42.88 billion, reflecting a slight increase of 0.05% from 2023 and exceeding the Zacks Consensus Estimate by 0.3% [3] Segment Analysis - Life Sciences Solutions segment revenues (22.9% of total) increased by 5.3% year over year to $2.60 billion, missing projections [4] - Analytical Instruments segment revenues (19.2%) rose by 7.3% to $2.19 billion, meeting projections [5] - Specialty Diagnostics segment revenues (10.2%) increased by 5.4% year over year to $1.16 billion, surpassing projections [6] - Laboratory Products and Biopharma Services segment revenues (52.1%) rose by 3.8% to $5.94 billion, exceeding projections [7] Margin Performance - Gross margin for the fourth quarter was 43%, expanding by 173 basis points year over year despite a 1.6% increase in the cost of revenues [8] - Selling, general and administrative expenses rose by 10.4% to $1.85 billion, while research and development expenses increased by 14.4% to $374 million [8] - Adjusted operating margin for the quarter was 23.5%, reflecting an expansion of 61 basis points [8] Financial Position - At the end of the fourth quarter of 2024, the company had cash and cash equivalents and short-term investments of $5.56 billion, down from $8.08 billion a year ago [9] - Cumulative net cash from operating activities at the end of 2024 was $3.29 billion, compared to $3.72 billion in the previous year [9] Growth Strategy - In 2024, the company launched several innovative products and completed the acquisition of Olink, enhancing its growth strategy [12] - These developments contributed to meaningful commercial wins for the company in 2024 [12] Dividend History - Thermo Fisher has a consistent dividend-paying history, with a five-year annualized dividend growth rate of 14.89% [10] Overall Assessment - The company exited the fourth quarter of 2024 with better-than-expected results, with both earnings and revenues exceeding estimates, and all business segments reported growth [11] - Margin expansions during the quarter were also viewed positively [11]

Core Insights - Thermo Fisher Scientific reported $11.4 billion in revenue for Q4 2024, a year-over-year increase of 4.7% [1] - The company's EPS for the same period was $6.10, up from $5.67 a year ago, exceeding the consensus EPS estimate of $5.93 by 2.87% [1] - The reported revenue surpassed the Zacks Consensus Estimate of $11.25 billion, resulting in a surprise of 1.31% [1] Revenue Performance - Organic revenue growth was 4%, outperforming the average estimate of 2.5% based on five analysts [4] - Laboratory Products and Biopharma Services generated $5.94 billion, exceeding the four-analyst average estimate of $5.86 billion, with a year-over-year change of 3.8% [4] - Specialty Diagnostics revenue was $1.16 billion, slightly above the $1.15 billion average estimate, reflecting a 4.7% year-over-year increase [4] - Life Sciences Solutions reported $2.60 billion, compared to the $2.58 billion average estimate, marking a 5.5% year-over-year change [4] - Analytical Instruments revenue was $2.19 billion, surpassing the $2.14 billion estimate, with a year-over-year increase of 7.3% [4] - Eliminations accounted for -$487 million, slightly worse than the average estimate of -$472.26 million, but still showing a year-over-year change of 9.7% [4] Stock Performance - Thermo Fisher's shares returned 9.2% over the past month, significantly outperforming the Zacks S&P 500 composite's 1.2% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Company Performance - Thermo Fisher Scientific reported quarterly earnings of $6.10 per share, exceeding the Zacks Consensus Estimate of $5.93 per share, and up from $5.67 per share a year ago [1] - The company achieved revenues of $11.4 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.31%, compared to $10.89 billion in the same quarter last year [3] - Over the last four quarters, Thermo Fisher has consistently surpassed consensus EPS estimates four times and revenue estimates three times [2][3] Market Performance - Thermo Fisher shares have increased approximately 9.2% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [4] - The current consensus EPS estimate for the upcoming quarter is $5.33 on revenues of $10.7 billion, and for the current fiscal year, it is $23.11 on revenues of $44.38 billion [8] Industry Outlook - The Medical - Instruments industry, to which Thermo Fisher belongs, is currently ranked in the top 31% of over 250 Zacks industries, indicating a favorable outlook [9] - The performance of Thermo Fisher's stock may be influenced by the overall industry outlook, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [9]

Exhibit 99.1 News FOR IMMEDIATE RELEASE Media Contact Information: Sandy Pound Thermo Fisher Scientific Phone: 781-622-1223 Phone: 781-622-1356 E-mail: sandy.pound@thermofisher.com E-mail: rafael.tejada@thermofisher.com Fourth Quarter and Full Year 2024 Highlights • Fourth quarter revenue grew 5% to $11.40 billion. • Fourth quarter GAAP diluted earnings per share (EPS) grew 14% to $4.78. • Fourth quarter adjusted EPS grew 8% to $6.10. • Full year revenue was $42.88 billion, flat versus prior year. • Full ye ...

Core Insights - Thermo Fisher Scientific Inc. is focused on innovation through product launches and strategic acquisitions, despite facing macroeconomic challenges and competitive pressures [1][11][12] Product Innovation - The company has launched several new products, including a pre-transplant risk assessment assay, Scientific KingFisher PlasmidPro Maxi Processor, and Thermo Scientific Stellar Mass Spectrometer, enhancing its portfolio in the third quarter of 2024 [3][4] - A first-of-its-kind bio-based film for single-use technologies and Energy Star-certified ULT freezers were also introduced, indicating a strong commitment to R&D [4] Collaborations and Partnerships - Thermo Fisher has built trusted partnerships with customers, allowing early insights into their needs, which is crucial for product differentiation [5] - The company expanded its pharma services manufacturing footprint and global laboratory services network, including a new bioanalytical lab in Gothenburg, Sweden [5][6] Strategic Acquisitions - Recent strategic acquisitions, such as the $3.1 billion acquisition of Olink Holdings, are expected to enhance capabilities in the proteomics market and deliver $125 million in adjusted operating income synergies by year five [9][10] - Other significant acquisitions include CorEvitas and MarqMetrix, which have advanced the company's clinical research capabilities and added complementary technologies [10] Financial Performance - Thermo Fisher's stock has increased by 6.4% over the past year, underperforming the industry growth of 12.5% and the S&P 500's 26% rise [2] - The company's earnings yield stands at 4.03%, significantly better than the industry's -3.23%, with earnings surpassing estimates in the last four quarters [2] Market Challenges - The company faces macroeconomic challenges, including geopolitical pressures and supply chain disruptions, which may impact profitability [11] - Competitive pressures from a diverse range of manufacturers and changing technology require ongoing R&D efforts [12] Earnings Estimates - The Zacks Consensus Estimate for Thermo Fisher's 2024 earnings per share has increased to $21.69, while revenues are projected at $42.73 billion, indicating a slight decline of 0.3% from the previous year [13]

The market expects Thermo Fisher Scientific (TMO) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected ...