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Thermo Fisher Lifts FY18 Forecast, Q1 Results Top Estimates - Quick Facts

Thermo Fisher Scientific Inc. (TMO) Wednesday raised its adjusted earnings and revenue guidance for the full year 2018 to reflect strong operational performance, a more significant impact from acquisitions and a more favorable foreign exchange environment.

The company now expects adjusted earnings in a range of $10.80 to $10.96 per share, up from the prior forecast range of $10.68 to $10.88 per share. It also raised revenue guidance to a new range of $23.62 billion to $23.86 billion from the previous guidance between $23.42 billion and $23.72 billion.

On average, analysts polled by Thomson Reuters expect earnings of $10.84 per share on revenues of $23.6 billion for the year. Analysts' estimates typically exclude special items.

Thermo Fisher also reported first-quarter net income of $579 million or $1.43 per share, higher than $551 million or $1.40 per share in the prior-year quarter. Adjusted earnings per share were $2.50, compared to $2.08 in the year-ago quarter.

Revenue for the quarter grew 23 percent to $5.85 billion from $4.77 billion in same quarter last year. Acquisitions increased revenue by 12 percent and currency translation reduced revenue by 4 percent. Organic revenue growth was 7 percent.

Analysts expected earnings of $2.40 per share on revenues of $5.63 billion for the quarter.

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