Thermo Fisher Scientific Raises FY21 Earnings, Revenue View Above Market

(RTTNews) - While reporting higher second-quarter results on Wednesday, Thermo Fisher Scientific (TMO) raised its fiscal 2021 earnings and revenue guidance.

The company raised its adjusted earnings per share guidance by $0.10 to $22.07, which would represent 13 percent growth year over year.

Further, the company lifted its full-year revenue guidance by $300 million to $35.90 billion, which would result in 11 percent revenue growth over 2020.

On average, analysts polled by Thomson Reuters expect earnings of $22.12 per share on revenues of $35.66 billion. Analysts' estimates typically exclude special items.

In the second quarter, earnings per share increased 59 percent to $4.61 from $2.90 last year. Adjusted earnings per share were $5.60, compared to prior year's $3.89, while analysts expected earnings of $5.49.

Revenue for the quarter grew 34 percent to $9.27 billion from $6.92 billion in 2020, while analysts were looking for $8.77 billion. Organic revenue growth was 28 percent.