Thermo Fisher Q3 2023 Earnings Report
Key Takeaways
Thermo Fisher Scientific reported a slight decrease in revenue for Q3 2023, but demonstrated strong earnings per share (EPS) growth. The company is managing macroeconomic challenges through its PPI Business System and continues to invest in future growth, including the acquisition of Olink Holding AB.
Third quarter revenue was $10.57 billion, a 1% decrease compared to the same quarter last year, with a core organic revenue growth of 1%.
GAAP diluted earnings per share (EPS) for the third quarter was $4.42, a 17% increase compared to the previous year, driven by operating margin expansion.
Adjusted EPS for the third quarter was $5.69, a 12% increase compared to the prior year, driven by adjusted operating margin expansion.
Thermo Fisher announced an agreement to acquire Olink Holding AB for approximately $3.1 billion, to enhance proteomic solutions.
Thermo Fisher
Thermo Fisher
Thermo Fisher Revenue by Segment
Forward Guidance
Thermo Fisher is revising its revenue and adjusted EPS guidance for the full year 2023 due to the current macroeconomic environment.
Positive Outlook
- The company expects 2023 revenue to be $42.7 billion.
- Core organic revenue growth is projected to be 1% for 2023.
- Adjusted EPS is expected to be $21.50 for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income