Thermo Fisher Scientific Authorizes $3 Billion of Share Repurchases

Rhea-AI Summary

Thermo Fisher Scientific Inc. (TMO) announced a $3 billion share repurchase authorization, effective immediately and with no expiration date. This new authorization replaces the previous one, which had $500 million remaining. The company's annual revenue stands at approximately $35 billion, emphasizing its position as a leader in serving science. The buyback aims to enhance shareholder value by reducing the number of shares outstanding, which can result in an increase in earnings per share (EPS).

Positive

• Authorized share repurchase of $3 billion, enhancing shareholder value.
• Strong revenue base with approximately $35 billion, indicating financial stability.

Negative

• None.

WALTHAM, Mass., Sept. 23, 2021 /PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that its board of directors has authorized the repurchase of $3 billion of shares of its common stock in the open market or in negotiated transactions. The authorization has no expiration date. This replaces the company's existing repurchase authorization, of which $500 million was remaining.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of approximately $35 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics and therapies or increasing productivity in their laboratories, we are here to support them. Our global team of more than 90,000 colleagues delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon. For more information, please visit www.thermofisher.com.

Media Contact Information:
Ron O'Brien
781-622-1242
ron.obrien@thermofisher.com  
www.thermofisher.com  

Investor Contact Information:
Rafael Tejada
781-622-1356
rafael.tejada@thermofisher.com

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SOURCE Thermo Fisher Scientific

FAQ

What is the purpose of Thermo Fisher's $3 billion share repurchase?

The share repurchase aims to enhance shareholder value by reducing the number of shares outstanding, potentially increasing earnings per share (EPS).

How does Thermo Fisher's share buyback affect its stock price?

The share buyback is expected to support the stock price by reducing the number of shares in circulation, which can lead to higher EPS.

What was remaining from Thermo Fisher's previous share repurchase authorization?

The previous authorization had $500 million remaining before the new $3 billion repurchase was announced.

Is there an expiration date for Thermo Fisher's new share repurchase program?

No, the new share repurchase authorization has no expiration date.