Thermo Fisher Scientific tops Q4 2021 consensus estimates

Thermo Fisher Scientific (NYSE: TMO) shares are up pre-market after the Q4 2021 results that topped consensus estimates and full-year results.

The company posted GAAP diluted earnings per share of $4.17 while adjusted EPS was $6.54. Analysts had predicted the company would report earnings of $4.94 per share. For the full year, GAAP EPS was up 22% to $19.46, while adjusted EPS was up 28% to $25.13 per share.

Q4 2021 revenue of $10.7 billion

Revenue during the quarter was $10.7 billion, beating consensus estimates of $8.84 billion. However, organic revenue fell by 4% during the quarter, acquisitions grew by 6%, and currency translation lowered revenue by 1%.

For the full year, the company reported a 22% growth in revenue to $39.21 billion. In addition, the organic revenue gain was 17%, acquisitions accounted for 3% of sales, and currency translation accounted for 2% of revenue. The total revenue from COVID-19 was $9.23 billion, while organic growth from base operations was 14% for fiscal 2021. CEO and Chairman Marc Casper said:

Thermo Fisher accelerated capability and capacity expansion

Thermo Fisher accelerated capacity and capability expansions, including a $2.5 billion investment in 2021 to address long- and near-term client demand. The company increased its capacity for sterilized fill-finish services, bioproduction, laboratory items, enzymes, and nucleotides during the year.

Also, in 2021, the company continued to expand its industry-leading scale in emerging and high-growth markets, including expanding its single-use bioproduction operations in the Asia Pacific and building a Customer Innovation Center focusing on the semiconductor sector in South Korea. Casper commented: