JHVEPhoto/iStock Editorial via Getty Images Thermo Fisher Scientific ( NYSE: TMO ) reported better-than-expected Q2 2024 financials on Wednesday as the healthcare giant’s Analytical Instruments segment expanded, offsetting a relative underperformance in other divisions. However, the Waltham, Massachusetts-based firm, a giant in the life sciences industry, reported a contraction in the topline for the fifth consecutive quarter as its revenue fell ~1% YoY to $10.54B.
Analytical Instruments was the lone bright spot, expanding ~2% to bring ~$1.8B to the top line, while revenue from its Specialty Diagnostics segment held steady at $1.1B.
Thermo’s ( TMO ) leading revenue generators, Lab Products/Biopharma Services and Life Sciences Solutions contracted ~1% YoY and ~4% YoY, adding $5.8B and $2.4B to the topline, respectively.
Meanwhile, the company’s bottom line improved as adj. earnings per share rose ~4% to $5.37, driven by higher operating margins, which stood at 22.
3% compared to 22.2% in the year-ago quarter. “We have made very good progress through the halfway point of the year and are in a great position to deliver differentiated performance in 2024,” said CEO Marc Casper ahead of the earnings call at 8:30 a.
m. EDT. With Q2 results exceeding expectations, Thermo ( TMO ) lifted its full-year guidance for revenue and adj.
EPS to $42.4B–43.3B and $21.
29–22.07, respectively, compared to $43.0B and $21.
27 in the consensus. More on Thermo Fisher Scientific Low Yield, .