10:50 AM EDT, 07/23/2025 (MT Newswires) -- Thermo Fisher Scientific ( TMO ) raised its full-year guidance as the medical-device manufacturer's second-quarter results surpassed Wall Street's estimates, while the company named a new chief financial officer.

The company now anticipates reporting adjusted per-share earnings of $22.22 to $22.84, reflecting a $0.23 increase at the midpoint from the prior outlook, Chief Executive Marc Casper said on a conference call, according to a FactSet transcript. Revenue is expected between $43.6 billion to $44.2 billion, lifting the bottom end of the previous estimate from $43.3 billion.

Shares of the company were up 11% intraday.

"The US-China tariff situation has improved significantly versus our prior guidance assumptions," CFO Stephen Williamson told analysts. "We reflected the (second-quarter) benefit of that in our revised guidance.

"Should global tariffs remain as they are today, we'll likely have upside to the new guidance."

Thermo Fisher said that Williamson will retire on March 31 next year. Jim Meyer, current vice president of financial operations of the company, will become CFO, effective March 1.

US Treasury Secretary Scott Bessent reportedly said Tuesday that officials from China and the US will discuss a potential extension to the tariffs deadline when they meet next week in Stockholm. The two sides agreed to a 90-day suspension of most tariffs on each other's goods in May.

The company reported adjusted EPS of $5.36 for the quarter ended June 28, down from $5.37 a year earlier but above the FactSet-polled consensus estimate of $5.23. Revenue grew 3% to $10.86 billion, ahead of the Street's view of $10.68 billion.

By segment, life sciences and solutions revenue increased 6% year on year to $2.5 billion in the second quarter, led by bioproduction, Williamson said on the call. Revenue in the analytical instruments division fell 3% to $1.73 billion, "driven by the impact of tariffs and the policy focus of the US administration, which is leading to a more muted demand for equipment and instrumentation in this segment," he said.

Laboratory products and biopharma services' sales rose 4% to $6 billion, while specialty diagnostics improved to $1.13 billion from $1.12 billion the year before.

Price: 472.41, Change: +45.32, Percent Change: +10.61