Thermo Fisher Scientific, Inc. - TMO STOCK NEWS

Thermo Fisher Scientific has partnered with Society for Science to present the Junior Innovators Challenge, a leading middle school STEM competition. As the title sponsor, Thermo Fisher aims to enhance student engagement in STEM fields. Nearly 300 affiliated science fairs will nominate top-performing students for the competition, offering over $100,000 in awards, including a $25,000 top prize. This initiative aligns with Thermo Fisher's commitment to equitable access to STEM education.

Thermo Fisher Scientific has announced a significant $1.0 billion share repurchase program for Q4 2022, increasing total buybacks to $3.0 billion for the year. Additionally, the company has entered into an agreement to acquire The Binding Site Group for £2.25 billion (or $2.6 billion), a leader in specialty diagnostics. These moves are part of Thermo Fisher's strategic focus on capital deployment, which will total $6.1 billion in 2022.

Thermo Fisher Scientific (NYSE: TMO) has announced a definitive agreement to acquire The Binding Site Group for £2.25 billion (approximately $2.6 billion). This acquisition enhances Thermo Fisher's specialty diagnostics segment, especially in oncology testing for multiple myeloma, a rapidly growing diagnostics area. The Binding Site is recognized for its Freelite® diagnostic assays, projected to generate over $220 million in revenue for 2022, with an annual growth rate of around 10%. The transaction is expected to complete in the first half of 2023 and will be accretive to adjusted earnings per share by $0.07 in the first full year.

Thermo Fisher Scientific Inc. (NYSE: TMO) reported strong financial results for Q3 2022, with revenue reaching $10.68 billion, a 14% increase. GAAP diluted EPS was $3.79, down from $4.79 in the same quarter last year, while adjusted EPS was $5.08. The company generated $0.44 billion from COVID-19 testing. New product launches, including the Orbitrap Ascend Tribrid mass spectrometer, enhanced their market position. The firm has expanded its manufacturing capabilities and committed to sustainability by sourcing renewable energy.

Thermo Fisher Scientific (NYSE: TMO) has announced the pricing of a ¥109.5 billion offering of yen-denominated senior notes, including 0.853% notes due 2025 and 2.382% notes due 2052. The offering is set to close on or about October 20, 2022. Proceeds will be used for general corporate purposes like debt repayment, acquisitions, or capital expenditures. The notes will pay interest semi-annually and are being managed by Citigroup, Mizuho, MUFG, and SMBC. For further details, investors are encouraged to review related SEC filings.

Thermo Fisher Scientific (NYSE: TMO) will release its Q3 2022 financial results on October 26, 2022, before market opening. A conference call to discuss these results and future expectations will take place at 8:30 a.m. EDT on the same day. The company's revenue is approximately $40 billion, demonstrating its leadership in serving science across various domains including diagnostics and life sciences research. Investors can listen to the call via phone or through the company’s website.

Thermo Fisher Scientific Inc. (NYSE: TMO) has signed an eight-year virtual power purchasing agreement with Enel North America to obtain renewable energy from the Seven Cowboy wind project in western Oklahoma. This agreement will provide around 400,000 megawatt hours of renewable electricity, covering half of the company's U.S. electricity consumption. The project supports Thermo Fisher's commitment to sustainability and a net-zero value chain by 2050, following a $20 million investment in green infrastructure earlier this year.

Thermo Fisher Scientific Inc. (NYSE: TMO) will participate in the Morgan Stanley 2022 Global Healthcare Conference on September 12, 2022, at 9:55 a.m. EDT. Marc N. Casper, chairman and CEO, will present at the event. Investors can access the presentation via the company's website. The company, a leader in serving science, generates approximately $40 billion in annual revenue, empowering customers in various sectors such as life sciences and diagnostics.

Thermo Fisher Scientific and Structura Biotechnology announced a collaboration to launch the Embedded CryoSPARC Live, a software solution that integrates with Thermo Fisher's technologies.

This new software enhances cryo-electron microscopy (cryo-EM), significantly reducing data processing time from days to hours.

It offers real-time data analysis for improved 3D protein structure determination, aiming to streamline workflows for researchers and commercial users. This solution underscores Thermo Fisher's commitment to advancing cryo-EM capabilities.