Thermo Fisher Scientific: Earnings and revenues improve in Q1

Investing.com – Thermo Fisher Scientific (NYSE:TMO) on Wednesday reported first-quarter results that beat analysts’ forecasts and revenue that topped expectations.

Thermo Fisher Scientific reported earnings per share of $2.94 on revenue of $6.23 billion. Analysts surveyed by Investing.com had expected earnings per share of $2.81 on revenue of $6.17 billion. That compares to earnings per share of $2.81 on revenue of $6.13 billion in the same period a year earlier. Thermo Fisher Scientific reported earnings per share of $3.55 on revenue of $6.83 billion in the previous quarter. Analysts are expecting earnings per share of $2.91 on revenue of $6.1 billion for the coming quarter.

Thermo Fisher Scientific shares are down 1% year to date, down 6.61% from their 52-week high of $342.26 set on Jan. 22. The company is outperforming the S&P 500, which is down 15.66% year to date.

Thermo Fisher Scientific follows performance of other important healthcare sectors this month

Thermo Fisher Scientific’s report follows a deterioration in J&J’s financial results on April 14, when the company reported earnings per share of $2.3 on revenue of $20.69 billion, compared with forecasts for earnings per share of $2.02 on revenue of $19.73 billion.

On April 16, Abbott Labs beat expectations, reporting first-quarter earnings per share of $0.65 on revenue of $7.73 billion, compared to forecasts for earnings per share of $0.59 on revenue of $7.44 billion.

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