Question-and-Answer Session
[Operator Instructions]. And the first question comes from the line of Tycho Peterson from JPMorgan. You may proceed.
Tycho W. Peterson - JPMorgan
Hi, good morning. Thanks for taking the call.
Gregory T. Lucier - Chairman and Chief Executive Officer
Good morning.
David F. Hoffmeister - Chief Financial Officer, Senior Vice President
Good morning.
Tycho W. Peterson - JPMorgan
David, just I guess a question on some of your comments around the guidance in the back half of the year. I mean, as I look at what you've put up in the first half of the year, are you expecting kind of any change in the end markets here? I mean that your? essentially it looks like with 20% EPS growth in the first half of the year, you're almost guiding to flat back half of the year EPS growth.
So, is this just an element of being conservative? I understand the higher costs around R&D and some of the other factors you mentioned for margins, but are you expecting any change to the end markets and any other dynamics here?
David F. Hoffmeister - Chief Financial Officer, Senior Vice President
No, we're not seeing any changes in our end markets. As we've said before over the last couple of years, we don't anticipate any in the second half of the year.
Tycho W. Peterson - JPMorgan
Okay. Could you maybe just use that as a platform to comment on? pharma, biotech and the academics in what you're seeing?
Gregory T. Lucier - Chairman and Chief Executive Officer
Tycho, this is Greg. I'll take that one. In terms of the academic end markets, we continue to see them to be stable, consistent and really no change. The pharmaceutical, the larger pharmaceutical end market for us as I said is generally good, but you almost have to talk about which company when you talk about the results.
Biotech, across the board is very strong for us. Our European business has really good growth, both in the first half and we see continuing positive results in the second half. So overall as I really commented in the prepared comments, markets are stable, consistent and we see that continuing in the second half of the year.
Tycho W. Peterson - JPMorgan
Okay. David, you mentioned the fuel costs. Is there any way you can kind of quantify the impact of that on the quarter?
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