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 ...

Earnings Release and Estimates - Thermo Fisher Scientific Inc (TMO) is scheduled to release its Q4 2024 results on Jan 30 before market open [1] - The Zacks Consensus Estimate for Q4 revenues is $11.25 billion, indicating 3.3% YoY growth [3] - The consensus estimate for Q4 earnings is $5.92 per share, suggesting 4.4% YoY growth [3] - Earnings estimates have remained unchanged at $5.92 per share over the past 30 days [4] Segment Performance Expectations Analytical Instruments - Expected to generate strong Q4 sales driven by newly launched cutting-edge technologies [5] - Introduced Thermo Scientific Iliad (Scanning) Transmission Electron Microscope in Q4 [5] - R&D 100 Awards honored Thermo Scientific Orbitrap Astral Mass spectrometer in Q3 [6] - Model projects $2.19 billion in Q4 revenues, representing 7.5% YoY growth [6] Life-Science Solutions - Likely experienced sales decline due to runoff of pandemic-related revenues [7] - Launched Applied Biosystems MagMAX Sequential DNA/RNA kit and Invitrogen Vivofectamine Delivery Solutions in Q3 [8] - Bioproduction business likely grew due to strong adoption in pharma and biotech segment [9] - Model expects $2.65 billion in Q4 revenues, indicating 7.5% YoY improvement [10] Specialty Diagnostics - Expected to gain positive contributions from transplant diagnostics and immunodiagnostics businesses [11] - Received FDA approval for Ion Torrent Oncomine Dx Target Test as companion diagnostic in Q4 [11] - Partnered with National Cancer Institute on myeloMATCH precision medicine trial in Q3 [12] - Model projects $1.13 billion in Q4 revenues, suggesting 2% YoY growth [13] Laboratory Products and Services - Revenues expected to increase due to research and safety market channel [14] - Introduced Thermo Scientific iCAP MX Series ICP-MS in Q4 [14] - Opened first electron microscopy demo center (NanoPort) in Taiwan and expanded global laboratory services with new bioanalytical lab in Sweden during Q3 [15] - Model expects $5.72 billion in Q4 revenues, flat YoY [16] Quantitative Model Predictions - Thermo Fisher has an Earnings ESP of +0.65% [17] - The company currently carries a Zacks Rank 4 [17] Other Medical Stocks to Watch - Argenx (ARGX) has Earnings ESP of +44.82% and Zacks Rank 2, expected to release Q4 2024 results on March 6 [18] - Arcutis Biotherapeutics (ARQT) has Earnings ESP of +7.97% and Zacks Rank 2, expected to release Q4 2024 results on Feb 25 [19] - Axogen (AXGN) has Earnings ESP of +36.36% and Zacks Rank 2, likely to release Q4 2024 results on March 4 [20]

Company Performance - Thermo Fisher Scientific (NYSE: TMO) stock has shown little growth for its shareholders since August 2021 [1] - The company is expected to potentially reverse this trend and begin seeing growth again by 2025 [1] Analyst Perspective - The analyst specializes in financials, consumer, and technology industries with over seven years of experience [1] - The analyst prioritizes deep research into business model trends to understand future company perspectives rather than focusing on short-term market trends or stock prices [1] - This research approach is considered valuable for identifying long-term growth investment opportunities while avoiding risky financial instruments [1] Disclosure - The analyst has no current stock, option, or derivative positions in the mentioned companies but may initiate a long position in TMO within the next 72 hours [2] - The article represents the analyst's personal opinions and is not influenced by compensation or business relationships with the mentioned companies [2]

Key Takeaways Company and Industry Overview 1. **Company**: Thermo Fisher Scientific Inc. (NYSE:TMO) 2. **Event**: 43rd Annual J.P. Morgan Healthcare Conference Call 3. **Date**: January 14, 2025 4. **Time**: 11:15 AM ET 5. **Participants**: Marc Casper - CEO, Sandy Pound - Chief Communications Officer, Raf Tejada - Vice President of Investor Relations, Rachel Vatnsdal - JPMorgan Performance and Future Outlook 6. **2024 Performance**: Strong differentiated performance delivered in 2024 [5] 7. **Upcoming Results**: Results to be reported in a couple of weeks [5] 8. **Industry Position**: Thermo Fisher is an industry leader with leading businesses enabling customer success [5] 9. **Market Share**: Gaining market share in the industry [5] 10. **End Markets**: Serving attractive end markets [5] 11. **Long-term Growth Drivers**: Sound and create a bright future for the industry and the company [5] Additional Notes 12. **Non-GAAP Financials**: Safe harbor statement and non-GAAP financials available on the company's website [4]