— Jeff Ward, Lehigh Valley News Briefs
Thermo Fisher Scientific, a maker of medical and laboratory equipment, reported third-quarter revenue of $10.6 billion before the opening of markets on Wednesday.
Waltham, Massachusetts-based Thermo Fisher, which has Lehigh Valley operations, also reported third-quarter adjusted earnings per share of $5.28. That exceed the $5.25 per-share estimate of industry analysts surveyed by Zacks Investment Research.
Adjusted earnings exclude items the company considers to be one-time or unusual. The GAAP (Generally Accepted Accounting Principles) earnings per share in the quarter were $4.25. GAAP does not allow for exclusions. GAAP EPS in the year-ago quarter was $4.42 and revenue was $10.57 billion.
Thermo Fisher (NYSE:TMO) also raised its full-year adjusted EPS forecast to $21.35 to $22.07 from the previous $21.29 to $22.07. The revenue forecast remains a range of $42.4 billion to $43.3 billion.
The closing share price of Thermo Fisher on Tuesday was $586.38, giving the company a market capitalization of $224 billion.
The shares have traded as high as $627.88 and as low as $415.60 in the last 52 weeks.
The company will hold a conference call to discuss its results at 8:30 a.m. today.
— Disclosure: I own shares in Thermo Fisher as part of a buy-and-hold strategy. I do not day-trade or invest in derivatives.
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