Thermo Fisher Scientific Raises 2017 Guidance

(RTTNews) - Thermo Fisher Scientific Inc. (TMO) raised its 2017 guidance to reflect strong second quarter operational performance and a less adverse foreign exchange environment, partially offset by increased interest expense from the recently completed bond offering.

The company raised its revenue guidance to a new range of $19.71 billion to $19.89 billion versus its previous guidance of $19.51 billion to $19.71 billion. This would result in 8 to 9 percent revenue growth over the previous year.

The company raised its adjusted EPS guidance to a new range of $9.15 to $9.28, versus the $9.12 to $9.28 previously communicated, for 11 to 12 percent growth over 2016.

Analysts polled by Thomson Reuters expect the company to report earnings of $9.23 per share and revenues of $19.67 billion for fiscal year 2017. Analysts' estimates typically exclude special items.