loading

Why is Thermo Fisher Scientific Inc (TMO) Stock down?

25 Oct, 2023:

Shares of Thermo Fisher Scientific (TMO) dropped by 5.47% from $458.96 to $433.18 in the trading on Wednesday, October 25, 2023. The reason why TMO stock down is due to its mixed Q3 results and the adjusted guidance for the fiscal year 2023.

  • Q3 Results: Thermo Fisher reported third-quarter revenue of $10.57 billion in 2023, down 1% from the previous year. Organic revenue declined by 3%, with core organic revenue growth at 1%. COVID-19 testing revenue contributed $0.05 billion. On the earnings front, GAAP diluted EPS for Q3 2023 was $4.42, up from $3.79 in Q3 2022.
  • FY2023 Outlook: Thermo Fisher revised its full-year 2023 guidance, now expecting adjusted earnings per share of $21.50 and revenue of $42.7 billion, with core organic revenue growth projected at 1%. This was a downward revision from previous guidance, which had earnings per share between $22.28 and $22.72 and revenue between $43.4 billion and $44.0 billion.
diagnostics_research DHR
$233.74
price up icon 0.16%
diagnostics_research A
$129.44
price up icon 3.10%
diagnostics_research IQV
$194.91
price up icon 1.86%
$408.36
price down icon 1.66%
diagnostics_research MTD
$1,160.18
price up icon 0.52%
Cap:     |  Volume (24h):