Thermo Fisher Boosts FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, Thermo Fisher Scientific Inc. (TMO) on Wednesday raised its adjusted earnings and revenue guidance for the full year 2019 to reflect stronger operational performance.

For fiscal 2019, the company now expects adjusted earnings in a range of $12.16 to $12.26 per share, up from the prior forecast range of $12.08 to $12.22 per share. It also raised revenue guidance to a new range of $25.30 billion to $25.50 billion from the previous guidance between $25.17 billion and $25.47 billion.

On average, analysts polled by Thomson Reuters expect earnings of $12.21 per share on revenues of $25.44 billion for the year. Analysts' estimates typically exclude special items.

Thermo Fisher also reported second-quarter net income of $1.12 billion or $2.77 per share, higher than $752 million or $1.85 per share in the prior-year quarter. Adjusted earnings per share were $3.04, compared to $2.75 in the year-ago quarter.

Revenue for the quarter grew 4 percent to $6.32 billion from $6.08 billion in same quarter last year. Acquisitions increased revenue by 1 percent, while currency translation reduced revenue by 2 percent. Organic revenue growth was 5 percent.

Analysts expected earnings of $3.00 per share on revenues of $6.30 billion for the quarter.