Summary
Thermo Fisher Scientific Inc. (TMO) has updated its fourth quarter 2020 revenue growth expectations, signaling a stronger-than-anticipated performance. The company now anticipates reported and organic revenue growth of approximately 50% for the fourth quarter, a significant increase from the previously projected 40% organic revenue growth announced in early December 2020. This upward revision also impacts the full-year 2020 outlook, with the company now expecting reported and organic revenue growth of approximately 25%, compared to the prior projection of 22% organic revenue growth. These improved figures reflect the ongoing impact of the COVID-19 pandemic and strong demand for the company's products and services. Further details on these results will be provided during the fourth quarter and full-year 2020 earnings conference call scheduled for February 1, 2021.
Key Highlights
- 1Thermo Fisher Scientific (TMO) raised its Q4 2020 revenue growth outlook to approximately 50% (reported and organic), up from 40% previously projected.
- 2Full-year 2020 reported and organic revenue growth is now expected to be around 25%, an increase from the prior forecast of 22% organic growth.
- 3The updated guidance was provided by CEO Marc N. Casper at the 39th Annual J.P. Morgan Healthcare Conference.
- 4The company attributes the strong performance and revised outlook to the ongoing impact of the COVID-19 pandemic and associated demand.
- 5Detailed financial results for Q4 and full-year 2020 will be released on the earnings conference call on February 1, 2021.
- 6The filing includes a standard cautionary statement regarding forward-looking statements and potential risks and uncertainties.