Thermo Fisher Scientific Inc. (TMO), a maker of laboratory and diagnostic equipment, has had a good start to the year. The firm has a good report, and it continues to make acquisitions that expand the market addressable. Thermo Fisher’s sales increased 19 percent year over year to $11.82 billion in the first quarter, thanks to 18 percent revenue growth from acquisitions. The organic revenue increase was 3%. Every segment’s financial performance went up during the quarter, except for the specialist diagnostics section.
Revenues for laboratory items and biopharmaceutical services, on the other hand, increased by 51%. profit per diluted share dropped marginally to $5.61. The corporation paid $2 billion in stock repurchases and boosted its dividend by 15%. Thermo Fisher offers a wide variety of goods, services, and audiences, and the firm is constantly expanding its portfolio via acquisitions. At the same time, the firm has so much M & A expertise that acquisitions can be integrated rapidly and with minimum profit loss. Due to acquisitions and the continued effect of COVID-19, the margin declined somewhat in 2022. However, free cash flow climbed by 15% in the first quarter, topping $1.5 billion.
Thermo Fisher Scientific is a leading provider and producer of research and clinical laboratory equipment. The direction of clinical research solutions, which Thermo Fisher has constantly strengthened, including via acquisitions, is particularly strong at the time. So, in December 2021, Thermo Fisher completed a $17.4 billion acquisition of PPD, a clinical research services firm. TMO stock has grown about 17% in the last year, reaching $546.68 at auction on May 6. $215.49 billion was the market capitalization.