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Thermo Fisher Scientific Inc., a maker of scientific and healthcare equipment with operations in the Lehigh Valley, reported revenue and adjusted earnings Thursday that exceeded analysts' estimates.

Thermo Fisher Chairman and Chief Executive Officer Marc Casper boosted the company's 2022 forecasts for revenue and adjusted earnings per share. He also said the company is prepared for a potential economic downturn.

"We will manage through whatever the world throws at us," Casper said during a conference call with industry analysts. COVID-19 shutdowns in China were thrown at the company this year.

"Our team managed lockdowns in China extremely well," Casper said.

He noted the war in Ukraine as a challenge for Thermo Fisher's European operations, and again said he expects the company to manage through any disruption.

Thermo Fisher was expected to generate revenue of $9.84 billion in the second quarter according to the consensus of seven analysts surveyed by Zacks Investment Research. The company topped that easily, posting $10.97 billion, 18% above the year-ago quarter's $9.27 billion.

Adjusted earnings per share, which exclude some items deemed one-time or unusual, were $5.51, again exceeding the consensus estimate of nine analysts of $4.92. Year-ago adjusted EPS was $5.60.

One negative note in the earnings report was a decline in adjusted operating margin, which measures how much profit a company makes per dollar of sales. That was 23.7% in the quarter, down from 29.0% a year ago.

Casper raised the 2022 full-year revenue forecast by $750 million to $43.15 million, which would be a 10% increase over 2021 revenue. He also forecast adjusted earnings per share of $22.93 for the year, 28 cents higher than the last outlook.

Stephen Williamson, Thermo Fisher's chief financial officer, said three factors went into the increased forecast: strong execution of the business and COVID-19 testing revenue, with some offset from unfavorable foreign currency trends. Williamson said adjusted operating margin for the year is forecast at 25.2%.

He also said that reviewing prices for Thermo Fisher's products and services in light of global inflation is a constant process.

Casper reiterated in a statement Thursday the sentiments he expressed after posting first-quarter results in April: He expects a big 2022.

"Our team continues to execute well and we're in a very strong position at the halfway point of the year and on track to deliver another outstanding year for Thermo Fisher," he said.

The Waltham, Massachusetts-based company's second-quarter earnings per share under GAAP (Generally Accepted Accounting Principles), which do not include one-time adjustments, were $4.22, down from $4.61 last year. Total net income under GAAP fell to $1.66 billion from $1.83 billion last year.

The company reports revenue for four divisions: life sciences, analytical instruments, specialty diagnostics, and laboratory products and biopharma services.

Laboratory products and biopharma services generated the most revenue, at $5.54 billion. Life sciences produced $3.29 billion in revenue, down from last year's $3.56 billion, and specialty diagnostics declined to $1.01 billion from $1.24 billion. Analytical instruments revenue increased to $1.61 billion from $1.48 billion. The four totals exceed the $10.97 billion second-quarter revenue because inter-company transactions are excluded from reported revenue.

Thermo Fisher shares trade on the New York Stock Exchange under the ticker symbol TMO. In trading before the opening of regular markets Thursday, TMO was trading higher, but as of just before 10 a.m., it was down $7.88, or about 1.4%, to $574.04.

In the last 52 weeks, Thermo Fisher has traded as high as $672.34 and as low as $497.83. The company's market value, based on the total number of shares outstanding times the current price, is $225 billion.

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