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Why is Thermo Fisher Scientific Inc (TMO) Stock down?
We've noticed a 5.76% decline in Thermo Fisher Scientific Inc (TMO) stock during the 2025-04-10 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
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.
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