Wednesday 2nd of February 2022 10:11:29 AM

Thermo Fisher cites COVID related revenue in raising 2022 outlook

Thermo Fisher Scientific Canada office in Mississauga, ON, Canada. JHVEPhoto/iStock Editorial via Getty Images
  • Thermo Fisher Scientific (TMO +1.2%) has extended pre-market gains after the life sciences company raised its 2022 guidance ahead of consensus estimates.
  • At the conference call on Q4 2021 earnings, CEO Marc Casper announced an increase to the company’s revenue outlook for the year by $1.5B to $42B to indicate ~7% YoY growth and raised the adjusted EPS forecast by $1.07 to $22.43 per share. The projections stand ahead of the current consensus for revenue and EPS at $41.1B and $21.79, respectively.
  • Giving further details on the guidance, Thermo Fisher (NYSE:TMO) CFO Stephen Williamson attributed the increase to four components, including a $1B rise in the assumption on COVID-testing revenue and a $900M increase in revenue from base business.
  • In 2021, Thermo Fisher (TMO) reported ~$9.2B of COVID-19 response revenue while its base business grew ~14% YoY.


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