Thermo Fisher tops Wall Street estimates in the fiscal fourth quarter

Thermo Fisher Scientific Inc. (NYSE: TMO) reported its financial results for the fiscal fourth quarter on Monday that topped analysts’ estimates for earnings and revenue. In related news, Vertex Pharmaceuticals is also scheduled to publish its Q4 earnings report on Monday after market close.

Thermo Fisher shares (read more: how to buy stocks) was reported about 2.2% up in premarket trading on Monday. The stock is now trading at £375 per share after recovering from a low of £186 per share in March 2020 due to the COVID-19 crisis that has so far infected over 26 million people in the U.S. and caused a little under half a million deaths.

Thermo Fisher’s Q4 financial results versus analysts’ estimates

Thermo Fisher said that net income in the fourth quarter printed at £1.82 billion that translates to £4.55 per share. In the same quarter last year, its net income was capped at a much lower £730 million or £1.82 per share.

Adjusted for one-time items, the healthcare diagnostics and therapies company earned £5.17 per share that represents a 100% annualised growth. In terms of revenue, Thermo Fisher saw a 54% year over year increase to £7.69 billion in Q4.

According to FactSet, experts had forecast the company to record £6.98 billion of revenue in the recent quarter. Their estimate for per-share earnings stood at a lower £4.78. In the prior quarter (Q3), the U.S. company had registered a 91% increase in its adjusted per-share earnings, as per the report published in October 2020.  

Other prominent figures in Thermo Fisher’s earnings report

Other prominent figures in the Waltham-based firm’s earnings report on Monday include £3.19 billion of life sciences revenue or 138% higher than last year. Speciality diagnostics revenue, as per Thermo Fisher, climbed by 109% in the fourth quarter to £1.44 billion.

At £2.64 billion, laboratory products revenue saw a 28% increase in the recent quarter while analytical instruments revenue came in at £1.20 billion or 8% higher than last year. FactSet Consensus for revenue from these segments stood at £2.68 billion, £1.08 billion, £2.38 billion, and £1.12 billion, respectively.

Thermo Fisher Scientific Inc. performed largely upbeat in the stock market last year with an annual gain of close to 40%. At the time of writing, the healthcare diagnostics and therapies company is valued at £147.29 billion and has a price to earnings ratio of 41.76.