Welcome to our dedicated page for Thermo Fisher Scientific news (Ticker: TMO), a resource for investors and traders seeking the latest updates and insights on Thermo Fisher Scientific stock.
Thermo Fisher Scientific, Inc. (TMO) is a global leader in providing science-based solutions, offering a wide range of products and services in the life sciences, analytical instruments, specialty diagnostics, and laboratory products sectors. The company's expansive portfolio includes scientific instruments, laboratory equipment, diagnostic consumables, and life science reagents, serving customers both in the United States and internationally.
Thermo Fisher operates through four distinct segments as of end-2023:
- Analytical Technologies (17% of sales): This segment focuses on providing high-quality instruments and software solutions for various scientific applications.
- Specialty Diagnostic Products (10% of sales): This segment specializes in offering diagnostic reagents and instruments for medical and research laboratories.
- Life Science Solutions (23% of sales): This segment provides reagents, instruments, and consumables used in biological research and drug development.
- Lab Products and Services (54% of sales): This is the largest segment, encompassing laboratory supplies, equipment, and contract research organization (CRO) services.
Thermo Fisher is continually expanding its offerings and capabilities through strategic partnerships, acquisitions, and technological innovation. The company's robust financial performance underscores its leadership in the industry, driven by consistent revenue growth, strong market presence, and a commitment to advancing scientific research and healthcare.
Recent achievements include technological advancements in analytical instruments, enhanced diagnostic solutions, and expanded biopharma services, reflecting Thermo Fisher's dedication to supporting life-saving research and diagnostic processes. Thermo Fisher remains committed to delivering high-quality products and services, fostering scientific breakthroughs, and maintaining its position at the forefront of scientific innovation.
Thermo Fisher Scientific (NYSE: TMO) reported first quarter 2023 results with revenue of $10.71 billion, a 9% decrease from $11.82 billion last year. However, core organic revenue grew by 6%. The company posted GAAP diluted EPS of $3.32, down from $5.61 in the previous year. Adjusted EPS also declined to $5.03 from $7.25. Despite the revenue drop, Thermo Fisher launched innovative products, strengthened customer partnerships, and secured agreements for 100% renewable energy by 2026, aiming for a 50% reduction in greenhouse gas emissions by 2030. The company repurchased $3.0 billion of stock and raised its dividend by 17%. The earnings call for further guidance is scheduled for April 26, 2023.
Thermo Fisher Scientific Inc. (NYSE: TMO) has announced its 2023 Investor Day, scheduled for May 24, 2023, at 9:00 a.m. ET in New York City. The event will feature presentations from the senior management team and will conclude with a question-and-answer session. Interested parties can access the live webcast via the Investors section of the Thermo Fisher website, with a replay available post-event.
Thermo Fisher is recognized as a leader in serving science, boasting over $40 billion in annual revenue. The company focuses on enabling advancements in life sciences, improving diagnostics, and developing innovative therapies through its renowned brands, including Thermo Scientific, Applied Biosystems, and Invitrogen. For more information, visit www.thermofisher.com.
Thermo Fisher Scientific Inc. (NYSE: TMO) will release its financial results for the first quarter of 2023 on April 26, 2023, before market opening. A conference call is scheduled for 8:30 a.m. EST on the same date to discuss financial performance and future expectations. The company reported annual revenue exceeding $40 billion, emphasizing its mission to enhance health and safety globally through advanced scientific services.
Investors can access the earnings release and listen to the call via the company’s website.
Thermo Fisher Scientific (NYSE: TMO) has partnered with the University of California, San Francisco (UCSF) to boost advanced cell therapies from a new cGMP manufacturing facility near UCSF Medical Center. This collaboration aims to expedite groundbreaking treatments for conditions like cancer and rare diseases through enhanced CAR-T and CRISPR technologies. The facility will focus initially on glioblastoma and multiple myeloma therapies, with a record number of cell therapy approvals in recent years indicating a promising market. Thermo Fisher’s global network will provide comprehensive drug development services.
General Atlantic has appointed Mark Stevenson as a Senior Advisor in its Life Sciences sector. With over 30 years of leadership experience, he was previously the Executive Vice President and COO at Thermo Fisher Scientific (NYSE: TMO), a company generating over $40 billion in annual sales. General Atlantic has invested over $2.5 billion in Life Sciences since 2020 and is focused on identifying emerging investment opportunities in this growing field. Stevenson aims to support entrepreneurs scaling biotechnology innovations, highlighting the significant opportunities in life sciences for future growth.
On March 16, 2023, Gemini BioProducts Holding announced the appointment of Cory Stevenson as Executive Chairman of the Board of Directors. Stevenson, who joined the board in 2022, has played a vital role in the company’s strategic plans, particularly its 57,000-square-foot manufacturing expansion aimed at supporting the biopharma and cell/gene therapy sectors. Previously, he was President of the BioProduction Division at Thermo Fisher Scientific (TMO), where he significantly increased revenues from $200 million to over $2.5 billion annually. His collaboration with CEO Brian Parker positions him to effectively guide GeminiBio's growth.
Thermo Fisher Scientific Inc. (NYSE: TMO), a leader in scientific services, announced that Marc N. Casper, chairman and CEO, will present at the Cowen Healthcare Conference on March 6, 2023, at 9:10 a.m. (EST). The presentation will be accessible via a webcast on the company's Investor section of its website. With annual revenue exceeding $40 billion, Thermo Fisher is committed to enhancing global health and safety through innovative technologies and services. For further details, visit www.thermofisher.com.
Thermo Fisher Scientific Inc. (NYSE: TMO) announced a quarterly cash dividend of $0.35 per common share, a 17% increase from the previous $0.30 dividend. This payment will be made on April 14, 2023, to stockholders recorded by March 15, 2023. The company, a leader in scientific services with annual revenues exceeding $40 billion, focuses on contributing to societal health and safety through innovative technologies and comprehensive laboratory services.
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