Thermo Fisher Scientific (TMO) shares rose Wednesday after the lab equipment and life science solutions firm reported first-quarter results above analysts’ expectations.

The Waltham, Mass.-based company posted adjusted earnings per share (EPS) of $5.15 on revenue of $10.36 billion. Analysts polled by Visible Alpha projected $5.10 and $10.23 billion, respectively.

“We delivered very strong performance in the first quarter in a more uncertain macroeconomic environment, and I’m incredibly proud of our team’s execution,” CEO Marc Casper said.

During the firm’s earnings call, Thermo Fisher executives said they now see adjusted EPS for the full year a dollar lower at the midpoint, or $22.30, citing the impact of policy changes, including tariffs between the U.S. and China. Analysts had been looking for full-year adjusted EPS of $23.16.

Thermo Fisher shares, which entered the day down 16% in 2025, rose nearly 5% soon after markets opened Wednesday before paring back early gains. (Read Investopedia’s live coverage of today’s market action here.)