Please ensure Javascript is enabled for purposes of website accessibility

Thermo Fisher Issues Mixed Guidance

By Rich Duprey - Apr 24, 2013 at 5:36PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Tightens revenue projections but lowers earnings estimates.

Life-sciences specialist Thermo Fisher Scientific (TMO 0.01%) reported first-quarter earnings this morning that were ahead of the consensus estimates of Capital IQ analysts, but ended up issuing guidance for the full year that was a bit of a mixed bag.

Thermo Fisher reported revenues for the three months ending on March 30 of $3.19 billion, up more than 4% from the same period, when it recorded revenues of $3.06 billion and ahead of analysts' expectations of $3.17 billion. The life sciences leader recorded profits of $336.2 million, or $0.93 per share, up 24% from the $0.75-per-share profit it generated last year and firmly outpacing the $0.86 Wall Street was anticipating.

Yet when it offered up guidance for 2013, that's when Thermo Fisher had to mix things up. It tightened up its revenue range, lifting the lower end of its full-year expectations, but lowered its range of expected per share profits.

Thermo Fisher now expects to record revenues between $12.84 billion and $13.00 billion, compared with previous guidance of $12.80 billion to $13.00 billion, while per-share profits are now forecast to come in at $5.27 to $5.39 compared with its prior suggestion of $5.32 to $5.46 per share.

Noting that the guidance didn't take into account its acquisition of Life Technologies (NASDAQ: LIFE), Thermo Fisher President and CEO Marc N. Casper said:

We're pleased with our solid first quarter results, with good performance on the top line. We also extended our track record of strong adjusted EPS growth, delivering a 17% increase year over year. Although the macro environment played out at the lower end of our expectations, our teams executed well to continue our growth momentum into 2013.

With revenue of $13 billion annually, Thermo Fisher has 39,000 employees and serves the pharmaceutical and biotech industries as well as hospitals and clinical diagnostic labs, universities, research institutions, and government agencies.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Thermo Fisher Scientific Inc. Stock Quote
Thermo Fisher Scientific Inc.
$555.21 (0.01%) $0.06

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/24/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.