Thermo Fisher Beats Revenue Estimates on Contract Manufacturing Strength

Reuters2023-04-26

April 26 (Reuters) - Medical equipment maker Thermo Fisher Scientific Inc reported better-than-expected first-quarter revenue on Wednesday, as strong sales in its laboratory and biopharma services unit offset the impact of declining COVID test sales.

The company's laboratory products and services segment, through which it helps firms develop drugs, clocked in sales of $5.76 billion for the quarter above estimates of $5.38 billion.

The medical products manufacturer has been expanding its range of services through acquisitions in recent years, as it strives to become a one-stop shop for biopharma services.

Thermo Fisher completed a $2.6 billion buyout of UK-based diagnostics firm Binding Site last quarter and shelled out about $17.4 billion in 2021 to bring clinical research services provider PPD under its wing.

Total revenue for the quarter was $10.71 billion, above analysts estimates of $10.67 billion, according to IBES data from Refinitiv.

Excluding items, Thermo Fisher reported earned $5.03 per share in the quarter, in-line with Wall Street estimates.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

3

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2330365353?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-04-26 18:55","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2330365353","market":"us","top_or_hot":-1,"title":"Thermo Fisher Beats Revenue Estimates on Contract Manufacturing Strength","media":"Reuters","content":"<html><head></head><body><p style=\"text-align: start;\">April 26 (Reuters) - Medical equipment maker Thermo Fisher Scientific Inc reported better-than-expected first-quarter revenue on Wednesday, as strong sales in its laboratory and biopharma services unit offset the impact of declining COVID test sales.</p><p style=\"text-align: start;\">The company&#39;s laboratory products and services segment, through which it helps firms develop drugs, clocked in sales of $5.76 billion for the quarter above estimates of $5.38 billion.</p><p>The medical products manufacturer has been expanding its range of services through acquisitions in recent years, as it strives to become a one-stop shop for biopharma services.</p><p style=\"text-align: start;\">Thermo Fisher completed a $2.6 billion buyout of UK-based diagnostics firm Binding Site last quarter and shelled out about $17.4 billion in 2021 to bring clinical research services provider PPD under its wing.</p><p style=\"text-align: start;\">Total revenue for the quarter was $10.71 billion, above analysts estimates of $10.67 billion, according to IBES data from Refinitiv.</p><p>Excluding items, Thermo Fisher reported earned $5.03 per share in the quarter, in-line with Wall Street estimates.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Thermo Fisher Beats Revenue Estimates on Contract Manufacturing Strength</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThermo Fisher Beats Revenue Estimates on Contract Manufacturing Strength\n</h2>\n\n<h4 class=\"meta\">\n\n2023-04-26 18:55 北京时间&nbsp;&nbsp;&nbsp;<strong>Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>April 26 (Reuters) - Medical equipment maker Thermo Fisher Scientific Inc reported better-than-expected first-quarter revenue on Wednesday, as strong sales in its laboratory and biopharma services ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TMO","symbol_name":"赛默飞世尔","start_time":0,"source_url":"","article_id":"2330365353","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2330365353","pubTimestamp":1682506548,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"April 26 (Reuters) - Medical equipment maker Thermo Fisher Scientific Inc reported better-than-expec","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TMO":"赛默飞世尔"},"translate_title":"赛默飞世尔合同制造实力超出收入预期","themeId":"ec9f6f0df2b6498587e7f5318b2eff2b","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TMO":1},"content_text":"April 26 (Reuters) - Medical equipment maker Thermo Fisher Scientific Inc reported better-than-expected first-quarter revenue on Wednesday, as strong sales in its laboratory and biopharma services unit offset the impact of declining COVID test sales.The company's laboratory products and services segment, through which it helps firms develop drugs, clocked in sales of $5.76 billion for the quarter above estimates of $5.38 billion.The medical products manufacturer has been expanding its range of services through acquisitions in recent years, as it strives to become a one-stop shop for biopharma services.Thermo Fisher completed a $2.6 billion buyout of UK-based diagnostics firm Binding Site last quarter and shelled out about $17.4 billion in 2021 to bring clinical research services provider PPD under its wing.Total revenue for the quarter was $10.71 billion, above analysts estimates of $10.67 billion, according to IBES data from Refinitiv.Excluding items, Thermo Fisher reported earned $5.03 per share in the quarter, in-line with Wall Street estimates.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2330365353"}