Why Is Thermo Fisher (TMO) Stock Shooting Higher Today - Thermo Fisher Scientific (NYSE:TMO)

Thermo Fisher Scientific Inc (NYSE: TMO) has posted Q4 revenue of $11.45 billion, up 7% Y/Y, beating the consensus of $10.43 billion.
Organic revenue was 3% lower, Core organic revenue growth was 14%, and COVID-19 testing revenue was $0.37 billion.
Revenue from Life Sciences Solutions Segment declined by 27% to $3.05 billion. Analytical Instruments Segment sales were up 8.9% to $1.88 billion.
Specialty Diagnostics Segment revenues decreased by 22.9% to $1.12 billion, and Laboratory Products and Biopharma Services segment sales were up 42% to $5.95 billion.
Related: New Acquisition Adds To Thermo Fisher's Specialty Dx Portfolio, Analyst Says.
Adjusted EPS of $5.40 versus $6.54 a year ago topped the consensus of $4.82.
Adjusted operating margin contracted from 29.5% to 22.4%.
"We had another exceptional year, exceeding our goals and delivering for all of our stakeholders in 2022," CEO Marc N. Casper said. "We are incredibly well positioned as we enter 2023," he added.
Price Action: TMO shares are up 3.13% at $588.16 on the last check Wednesday.

Thermo Fisher Says 2022 Another Exceptional Year, Well Positioned While Entering 2023