Stock Monitor: Fluidigm Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 11, 2018 / If you want access to our free earnings report on Thermo Fisher Scientific Inc. (NYSE: TMO), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TMO. Thermo Fisher Scientific reported its first quarter fiscal 2018 operating and financial results on April 25, 2018. The maker of scientific instrument and laboratory supplies outperformed top- and bottom-line expectations. Additionally, the Company raised its revenue and earnings guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
Thermo Fisher's revenue grew 23% to $5.85 billion for the first quarter 2018 versus $4.77 billion in Q1 2017. The Company's organic revenue growth was 7% for the reported quarter, acquisitions increased revenue by 12%, and currency translation increased revenue by 4%. Thermo Fisher's reported numbers topped analysts' estimates of $5.63 billion.
During Q1 2018, Thermo Fisher's GAAP operating income grew to $0.79 billion compared to $0.62 billion in Q1 2017. The Company's GAAP operating margin increased to 13.4% compared to 13.0% in the prior year's same quarter. For Q1 2018, Thermo Fisher's adjusted operating income grew 20% to $1.29 billion on a y-o-y basis. The Company's adjusted operating margin was 22.0% compared to 22.5% in the prior year's same quarter.
Thermo Fisher's GAAP net income was $579 million, or $1.43 per diluted share, in Q1 2018 compared to $551 million, or $1.40 per diluted share, in Q1 2017. The Company's adjusted earnings increased 20% to $2.50 versus $2.08 in the prior year's comparable quarter. Thermo Fisher's earnings beat Wall Street's estimates of $2.42 per share.
Thermo Fisher Scientific's Segment Results
During Q1 2018, the Life Sciences Solutions segment's revenue grew 10% to $1.50 billion compared to revenue of $1.36 billion in Q1 2017. The segment's adjusted operating margin increased to 34.5% versus 31.8% in the prior year's same quarter.
For Q1 2018, the Fisher's Analytical Instruments segment's revenue increased 19% to $1.26 billion compared with revenue of $1.05 billion in Q1 2017. The segment's adjusted operating margin increased to 19.6% versus 18.2% in the year earlier same quarter.
The Specialty Diagnostics segment's revenue grew 9% to $0.95 billion in Q1 2018 compared to revenue of $0.87 billion in Q1 2017. The segment's adjusted operating margin was 25.6% versus 26.9% in the year ago corresponding period.
The Laboratory Products and Services segment's results reflect the acquisition of Patheon in late August 2017. In Q1 2018, the segment's revenue surged 42% to $2.41 billion compared to revenue of $1.70 billion in Q1 2017. The segment adjusted operating margin was 11.6% versus 12.7% in the year ago same period.
Thermo Fisher's cash flow from continuing operations through Q1 2018 was $80 million, and free cash flow was negative $40 million after deducting net capital expenditures of $120 million. The Company ended the reported quarter with $950 million in cash and investments. Thermo Fisher's total debt at the end of Q1 2018 was $20.9 billion, down $75 million sequentially, and the Company's leverage ratio at the end of the quarter was 3.8x total debt to adjusted EBITDA.
For full year 2018, Thermo Fisher raised its revenue guidance to a range of $23.62 billion to $23.86 billion versus its previous guidance of $23.42 billion to $23.72 billion. This would result in 13% to 14% revenue growth on a y-o-y basis. The Company raised its adjusted earnings forecast to a band of $10.80 to $10.96 versus its previous guidance of $10.68 to $10.88, reflecting for 14% to 15% growth on a y-o-y basis.
Stock Performance Snapshot
May 10, 2018 - At Thursday's closing bell, Thermo Fisher Scientific's stock advanced 2.46%, ending the trading session at $213.82.
Volume traded for the day: 1.27 million shares.
Stock performance in the last month – up 0.48%; previous three-month period – up 7.59%; past twelve-month period – up 25.06%; and year-to-date – up 12.61%
After yesterday's close, Thermo Fisher Scientific's market cap was at $86.13 billion.
Price to Earnings (P/E) ratio was at 34.80.
The stock has a dividend yield of 0.32%.
The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry. This sector was up 0.9% at the end of the session.
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