Thermo Fisher 3Q Earnings Rise as Sales Slip
25 October 2023 - 9:52PM
Dow Jones News
By Dean Seal
Thermo Fisher logged higher earnings despite a slight drop in
sales for the third quarter.
The Waltham, Mass., scientific-equipment company posted a profit
of $1.72 billion, or $4.42 a share, compared with $1.50 billion, or
$3.79 a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were $5.69 a
share. Analysts polled by FactSet had been expecting $5.61 a
share.
Revenue decreased to $10.57 billion from $10.68 billion in the
year-ago quarter, below analyst forecasts for $10.6 billion,
according to FactSet.
Core organic revenue, which excludes $500,000 in Covid testing
revenue and the impacts of acquisitions and foreign currency
translation, was up 1% for the quarter.
""While market conditions further weakened during the third
quarter, I'm very pleased with our team's execution which enabled
our company to deliver both excellent margin expansion and adjusted
EPS growth," Chief Executive Marc Casper said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 25, 2023 06:37 ET (10:37 GMT)
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