Thermo Fisher Scientific has reported a net income of $1.63bn, or $4.25 per diluted share, for the third quarter ended 30 September 2024, a 5% decline compared to $1.71bn, or $4.42 per diluted share, for the same quarter in 2023.
The healthcare technology company’s net income for the third quarter of 2024 (Q3 2024) increased by 5%, compared to $1.54bn for the second quarter of 2024 (Q2 2024).
Thermo Fisher reported total revenues of $10.59bn for Q3 2024, a 0.2% increase compared to $10.57bn for the same quarter in 2023 and a 1% rise compared to $10.54bn for Q2 2024.
The company’s total costs and operating expenses were $8.75bn for Q3 2024, a 1% rise compared to $8.71bn for the respective quarter in 2023.
Thermo Fisher reported an income before tax of $1.74bn for Q3 2024, a 1% decline compared to $1.76bn for the same period in the previous year.
Thermo Fisher Scientific chairman, president and CEO Marc Casper said: “We are pleased to deliver strong financial results in the third quarter, reflecting another quarter of sequential improvement in growth.
“We continue to deliver differentiated performance through our proven growth strategy and PPI Business System. Our trusted partner status is resonating strongly with customers, and this is translating into meaningful commercial wins.”
“Looking ahead, we’re in a great position to deliver on our 2024 objectives, as we continue to create value for all of our stakeholders and build an even brighter future for our company.”
Thermo Fisher’s Life Sciences Solutions arm reported revenues of $2.38bn for Q3 2024, a 2% decrease compared to $2.43bn for the same period in 2023.
The company’s Analytical Instruments unit reported revenues of $1.8bn for Q3 2024, a 3% rise compared to $1.75bn for the respective quarter of the previous year.
Its Specialty Diagnostics business reported revenues of $1.12bn for Q3 2024, a 4% increase compared to $1.08bn for the same quarter in 2023.
The company’s Laboratory Products and Biopharma Services reported revenues of $5.74bn for Q3 2024, a 0.3% rise compared to $5.72bn for the same period in the previous year.
Recently, Thermo Fisher secured the US Food and Drug Administration (FDA) approval for its Ion Torrent Oncomine Dx Target Test to identify patients with Grade 2 IDH-mutant glioma.
