NEW YORK - Thermo Fisher Scientific Inc. (NYSE:TMO) reported fourth-quarter earnings and revenue that exceeded analyst expectations, sending shares up 1.50% in early trading.
The scientific instrument maker posted adjusted earnings per share of $6.10, surpassing the consensus estimate of $5.95. Revenue for the quarter came in at $11.40 billion, topping analyst projections of $11.29 billion.
Thermo Fisher's fourth-quarter revenue grew 5% YoY to $11.40 billion. Organic revenue growth was 4%, while core organic revenue growth, which excludes COVID-19 testing impacts, was 5%.
"We finished 2024 with excellent financial performance, delivering strong growth on the top and bottom line in the fourth quarter," said Marc N. Casper, chairman, president and CEO of Thermo Fisher Scientific. "We drove meaningful share gain and enabled the success of our customers, by leveraging our proven growth strategy and PPI Business System, capping off another year of differentiated performance."
The company's adjusted operating income for Q4 rose to $2.72 billion from $2.55 billion a year earlier. Adjusted operating margin expanded to 23.9% from 23.4% in the prior-year quarter.
For the full year 2024, Thermo Fisher reported revenue of $42.88 billion, flat compared to 2023. Adjusted EPS for 2024 grew 1% to $21.86.
The company said it will provide 2025 financial guidance during its earnings conference call.
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