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Thermo Fisher 3Q Sales Grow With Boost From Covid-19 Response.

By Matt Grossman

 

Thermo Fisher Scientific Inc. Wednesday posted revenue and adjusted earnings that exceeded analysts' expectations for the third quarter, as sales related to Covid-19 fueled higher revenue.

The Waltham, Mass.-based scientific-equipment company logged earnings of $4.79 a share, a fall from $4.84 a share in the same three-month period a year earlier. Net income was $1.9 billion, compared with $1.93 billion last year.

Stripping out one-time items, the company's adjusted earnings were $5.76 a share. Analysts polled by FactSet had forecast adjusted earnings of $4.68 a share.

Revenue rose to $9.33 billion from $8.52 billion in the year-ago quarter. Analysts were expecting revenue of $8.38 billion.

Thermo Fisher said its base business revenue grew by 10% organically, while revenue from the company's Covid-19 response contributed revenue of $2.05 billion.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

October 27, 2021 06:29 ET (10:29 GMT)

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