TMO Q2 2019 Earnings Report — Thermo Fisher Scientific Inc. Revenue & Financial Results | Market Cap Arena

Thermo Fisher Scientific Inc.TMO

Q2 2019 Earnings

Reported August 2, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$6.3B	$6.1B	$6.1B	3.1%	3.9%
Op. Income	$1.1B	$946M	$960M	11.6%	10.0%
Gross Margin	44.8%	44.3%	45.1%	0.6pp	-0.3pp
Net Margin	17.7%	13.3%	12.4%	4.4pp	5.3pp
EPS (Diluted)	$2.77	$2.02	$1.85	37.1%	49.7%
Free Cash Flow	$1.1B	$448M	$1.3B	139.7%	-14.8%

Revenue Flow

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$3.5B
GROSS PROFIT	$2.8B
R&D Expenses	$246M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.5B
Other Expenses	$26M
Operating Expenses	$1.8B
Cost & Expenses	$5.3B
OPERATING INCOME	$1.1B
Interest Income	$60M
Interest Expense	$181M
Other Income/Expenses	$337M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$274M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$571M
EBIT	$1.6B
EBITDA	$2.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$3.5B
GROSS PROFIT	$2.8B
R&D Expenses	$246M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.5B
Other Expenses	$26M
Operating Expenses	$1.8B
Cost & Expenses	$5.3B
OPERATING INCOME	$1.1B
Interest Income	$60M
Interest Expense	$181M
Other Income/Expenses	$337M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$274M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$571M
EBIT	$1.6B
EBITDA	$2.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$571M
Stock-Based Compensation	$52M
Deferred Income Tax	-$259M
Other Non-Cash Items	-$475M
Change in Working Capital	$286M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	-$220M
Acquisitions (Net)	-$559M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$769M
Net Debt Issuance	$725M
Common Stock Repurchased	$0
Common Dividends Paid	-$76M
Other Financing Activities	$0
NET CASH FROM FINANCING	$690M
FREE CASH FLOW	$1.1B
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.3B
Short-Term Investments	$0
Net Receivables	$4.8B
Inventory	$3.2B
Other Current Assets	$951M
TOTAL CURRENT ASSETS	$11.2B
PP&E (Net)	$5.0B
Goodwill	$25.8B
Intangible Assets	$14.9B
Long-Term Investments	$2M
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$46.7B
TOTAL ASSETS	$58.0B
Account Payables	$1.4B
Short-Term Debt	$2.5B
Deferred Revenue	$1.1B
Other Current Liabilities	$1.7B
TOTAL CURRENT LIABILITIES	$7.5B
Long-Term Debt	$16.7B
Deferred Revenue NC	$532M
Deferred Tax Liabilities	$1.9B
Other Non-Current Liabilities	$2.1B
TOTAL NON-CURRENT LIABILITIES	$21.7B
TOTAL LIABILITIES	$29.2B
Common Stock	$433M
Additional Paid-In Capital	$14.9B
Retained Earnings	$20.5B
Treasury Stock	-$4.4B
Accum. Other Comp. Income	-$2.6B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$28.7B
Minority Interest	$0
TOTAL EQUITY	$28.7B
TOTAL LIABILITIES & EQUITY	$58.0B
Total Debt	$19.7B
Net Debt	$17.4B