Thermo Fisher Scientific posted third-quarter results today that beat the consensus forecast on Wall Street.
The company reported profits of $1.5 billion, or $3.79 per share, on sales of $10.7 billion for the three months ended Sept. 30, for a bottom-line loss of 21.3% on sales growth of 14.4% compared with Q3 2021.
Adjusted to exclude one-time items, earnings per share were $5.08, 26¢ ahead of The Street, where analysts were looking for sales of $9.91 billion.
“We delivered another quarter of excellent financial performance driven by our proven growth strategy and powered by our PPI Business System. Our strategic investments and innovative new product launches are further enhancing our unique customer value proposition and leading to continued share gain,” President and CEO Marc Casper said in a news release. “We saw broad-based strength across our businesses, including our new clinical research business, which is performing very well. Customers are excited about our expanded capabilities, the integration continues to progress smoothly, and the long-term synergies remain very compelling.”
Thermo Fisher did not provide a financial outlook for the remainder of the year.
Shares in TMO were down 1.68% to $505.98 apiece at market open.