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Thermo Fisher Scientific Raises Q4 and 2020 Revenue, Earnings Guidance

NEW YORK – Thermo Fisher Scientific said in a regulatory filing on Tuesday that it is raising its fourth quarter and full-year revenue and earnings guidance.

According to a document filed with the US Securities and Exchange Commission, the company now expects organic revenues to grow 40 percent year over year in Q4, driven by its base business and sales related to the COVID-19 response. In October, the company had said it expected 29 percent organic revenue growth for the quarter. For full-year 2020, the firm now anticipates year-over-year organic revenue growth of 22 percent compared to a previous 20 percent.

In addition, Thermo Fisher now anticipates full-year 2020 adjusted earnings per share to grow 55 percent year over year to $19.17. Previously, the firm had expected adjusted EPS to grow 48 percent year over year to $18.27.

In afternoon trading on the New York Stock Exchange, Thermo Fisher's stock was up almost 2 percent at $473.89 per share.