Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Thermo Fisher lifts annual forecast on boost from COVID-related sales

10/27/2021 | 10:38am EST
Visit to AstraZeneca/Thermo Fisher, former Novasep, COVID-19 vaccine plant in Belgium

(Reuters) -Thermo Fisher Scientific Inc on Wednesday reported better-than-expected quarterly profit and raised its full-year forecast for revenue as well as earnings, fuelled by strong COVID-19 related sales and recovery in its mainstay business.

Shares of the world's largest maker of scientific instruments rose nearly 3% to touch a record high of $625.99 after it also raised its outlook for next year.

Thermo Fisher makes and sells coronavirus tests and also provides raw materials and fill-and-finish services for COVID-19 vaccine makers. A surge in cases in recent months due to the virulent Delta variant has led to a rebound in demand for tests.

The company reported $2.05 billion of COVID-19 response revenue in the third quarter, which includes sales related to vaccines and therapies as well as diagnostic testing, up from $1.9 billion in the second quarter.

"The extra COVID revenue gives them more free cash flow, but the underlying story remains strong, very robust and investors should be happy with the results," Atlantic Equities analyst James Mainwaring told Reuters. "The COVID benefit is just giving them cash."

Thermo Fisher's mainstay business revenue grew by 10% organically in the quarter and the company raised its 2021 revenue forecast by $1.2 billion to $37.1 billion.

It now expects adjusted profit of $23.37 per share, up from its previous forecast of $22.07 per share.

However, the company said it continues to assume COVID-19 testing related revenue of $450 million in the fourth quarter, and expects testing to bring in $750 million next year.

Thermo Fisher said the underlying demand for its product and service offerings used in the production and development of vaccines is very robust and it expects to carry the momentum into 2022.

"Vaccine mandates, booster shots and children add to the durability of the demand for vaccine and therapies," Chief Executive Officer Marc Casper said on a post-earnings conference call.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber)

By Mrinalika Roy

ę Reuters 2021
11/29Thermo Fisher says its COVID-19 tests accurately detects Omicron variant
11/29ETF PREVIEW : ETFs, Futures Inch Higher as Wall Street Mulls New Omicron COVID-19 Variant,..
11/29Thermo Fisher Scientific Says Its COVID-19 TaqPath Tests Can Accurately Detect Omicron ..
11/29Thermo Fisher Scientific Confirms Detection of SARS-CoV-2 in Samples Containing the Omi..
11/29REFILE-Thermo Fisher says its COVID-19 tests accurately detects Omicron variant
11/22Biocept Launches Combined COVID-19, Influenza Test; COVID-19 Test Developed With Aegea ..
11/18THERMO FISHER SCIENTIFIC INC. : Entry into a Material Definitive Agreement, Regulation FD ..
11/18Thermo Fisher Scientific Announces Redemption of Senior Notes
11/18Thermo Fisher Scientific Inc. Announces Redemption of Senior Notes
11/15Thermo Fisher Scientific Selects Mebane, N.C. as Site for New Manufacturing Facility
More news
Analyst Recommendations on THERMO FISHER SCIENTIFIC
More recommendations
Financials (USD)
Sales 2021 37 181 M - -
Net income 2021 7 605 M - -
Net Debt 2021 25 683 M - -
P/E ratio 2021 34,1x
Yield 2021 0,15%
Capitalization 256 B 256 B -
EV / Sales 2021 7,57x
EV / Sales 2022 6,81x
Nbr of Employees 80 000
Free-Float 89,6%
Duration : Period :
Thermo Fisher Scientific Technical Analysis Chart | TMO | US8835561023 | MarketScreener
Technical analysis trends THERMO FISHER SCIENTIFIC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 22
Last Close Price 648,77 $
Average target price 668,10 $
Spread / Average Target 2,98%
EPS Revisions
Managers and Directors
Marc N. Casper Chairman, President & Chief Executive Officer
Stephen Williamson Chief Financial Officer & Senior Vice President
Ryan Snyder Chief Information Officer & Senior Vice President
Alan B. Sachs Chief Medical Officer
Karen E. Nelson Chief Scientific Officer
Sector and Competitors