Thermo Fisher beats by $0.06, beats on revs; guides FY17 EPS above consensus, revs above consensus (194.38)
- Reports Q3 (Sep) earnings of $2.31 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $2.25; revenues rose 13.9% year/year to $5.12 bln vs the $5.03 bln Capital IQ Consensus.
- Co issues upside guidance for FY17 to reflect the acquisition of Patheon, strong operational performance and a more
favorable foreign exchange environment- Co sees EPS of $9.29 to $9.38, excluding non-recurring items, vs. $9.34 Capital IQ Consensus Estimate; sees FY17 revs of $20.50 to $20.66 bln vs. $20.45 bln Capital IQ Consensus Estimate.
- "We also continued to set our company up for an even stronger future by successfully executing our growth strategy. Among the highlights in the quarter, we expanded our analytical instrument platforms for both life sciences and applied markets, and contributed to a groundbreaking achievement in gene therapy. In Asia-Pacific, we built on our industry-leading scale and depth of capabilities in China to help our customers advance precision medicine.
"We were also very pleased to close our acquisition of Patheon in late August. Two months into the integration, we're even more excited about the new opportunities we have to help our pharma and biotech customers achieve their goals."