Thermo Fisher Scientific (NYSE:TMO) today posted second-quarter results that beat the overall consensus on Wall Street.
The Waltham, Mass.–based company reported profits of $1.8 billion, or $4.61 per share, on sales of $9.3 billion for the three months ended July 1, 2021, for a bottom-line gain of 58.1% on sales growth of 34.1% compared with Q2 2020.
Adjusted to exclude one-time items, earnings per share were $5.60, 11¢ ahead of The Street, where analysts were looking for sales of $8.8 billion.
“Our team delivered an incredibly strong second quarter, building on our excellent start to the year. The strength of our base business reflects our proven growth strategy, and we continue to enable the societal response to the pandemic, which allowed us to deliver exceptional performance in revenue, earnings and free cash flow for the quarter,” president and CEO Marc Casper said in a news release. “We extended our leading innovation track record, and our ongoing investments in talent, capabilities and infrastructure are positioning our company for an even brighter future.”
Thermo Fisher is raising its 2021 revenue and earnings guidance. Its revenue guidance is no $35.9 billion and adjusted EPS is $22.07.
TMO shares are down slightly to $527.75 apiece in morning trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, is up slightly.