WASHINGTON (dpa-AFX) - Thermo Fisher Scientific, Inc. (TMO) said that it updated its revenue and adjusted earnings per share guidance for 2016 to reflect strong operating performance in the first half of the year, as well as a more unfavorable foreign exchange environment.
The company raised its 2016 adjusted earnings per share guidance to a new range of $8.07 to $8.20 versus $8.05 to $8.19, for 9 to 11% growth year over year as previously announced.
The company now expects revenue for fiscal year 2016 to be in the range of $17.84 to $18.00 billion versus its guidance of $17.86 to $18.04 billion announced on April 28, 2016. This would continue to result in 5 to 6% revenue growth over the previous year.
Analysts polled by Thomson Reuters expect the company to report earnings of $8.13 per share and revenues of $17.94 billion for fiscal year 2016. Analysts' estimates typically exclude special items.
Copyright RTT News/dpa-AFX