Thermo Fisher Scientific posted quarterly results that exceeded analyst forecasts, powered primarily by expansion in its laboratory products and biopharma services segment even as other areas of the business lagged. The Waltham, Massachusetts-based firm reported total revenue of $11.01 billion for the quarter, topping the LSEG analysts' estimate of $10.85 billion and representing a 6% increase from the prior year.
Within the company, the largest unit - laboratory products and biopharma services - recorded revenue of approximately $6.04 billion, up about 7% from $5.64 billion a year earlier. That gain helped offset weaker outcomes elsewhere: revenue for analytical instruments was essentially unchanged at $1.72 billion, while specialty diagnostics, which includes diagnostic test kits, fell roughly 0.5% to $1.14 billion.
Thermo Fisher reported adjusted earnings per share of $5.44 for the quarter ended March 28, ahead of the $5.24 per-share forecast. Despite the upside on both the top and bottom lines, the stock traded down 3.1% in premarket activity.
Life-sciences tools and services companies, including Thermo Fisher, continue to navigate a mixed demand backdrop. The industry has seen cautious follow-on funding for smaller biotech companies and weaker academic research support even as demand connected to pharmaceutical research and manufacturing has shown signs of stabilizing. The article noted that the Trump administration has been slashing funding and freezing grants for universities and research bodies to which Thermo provides its products and services.
Industry peer Danaher also reported a first-quarter result earlier in the week that beat profit expectations, aided by strong demand for bioprocessing tools used in drug manufacturing.
Separately, an AI-driven stock selection product referenced in connection with Thermo Fisher evaluates the company against many others using over 100 financial metrics. The promotional material states the tool has identified past winners such as Super Micro Computer (+185%) and AppLovin (+157%), and asks whether Thermo Fisher (TMO) appears in current strategies.