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July 29, 2022

Thermo Fisher Scientific reports 18% rise in second quarter 2022 revenue

Thermo Fisher launched the Gibco CTS TrueCut Cas9 Protein and Phadia 2500+ series of instruments in the quarter.

Thermo Fisher Scientific has reported an 18% increase in revenue to $10.97bn in the second quarter of the year, compared to $9.27bn in the same quarter last year.

Its organic revenues in the reported quarter rose 3% and acquisitions revenue increased by 19%, while currency translation lowered revenue by 4%.

Core organic revenue growth stood at 13%, while $0.63bn of Covid-19 testing revenue was reported for the quarter.

During the quarter, the GAAP diluted earnings per share (EPS) attributable to Thermo Fisher was $4.22, compared to $4.61 in the same quarter last year.

The company’s GAAP operating income was $2bn, versus $2.16bn in the year-ago quarter.

In this quarter, new products launched by Thermo Fisher Scientific include the Gibco CTS TrueCut Cas9 Protein and Phadia 2500+ series of instruments.

It also introduced the Thermo Scientific AccelerOme Automated Sample Preparation Platform and Thermo Scientific Direct Mass Technology.

The company has expanded its cell culture media capacity in Grand Island, New York, US, to support its research and drug production applications.

Thermo Fisher Scientific chairman, president and CEO Marc Casper said: “We delivered another quarter of outstanding financial performance.

“Our proven growth strategy and PPI Business System enabled us to deliver exceptional results across our business and we continue to see the benefit of our strategic investments to enhance our unique customer value proposition.

“The integration of our clinical research business is going very well, the business is performing at a high level and the outlook for long-term synergies is very compelling.”

Earlier this month, the company introduced its CE-IVD-marked molecular Applied Biosystems TaqPath Respiratory Viral Select Panel.

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