By Dean Seal

Thermo Fisher has reduced its revenue and adjusted earnings outlook for 2023 after market conditions weakened further in the third quarter.

The Waltham, Mass.-based scientific-equipment company now expects adjusted earnings, which strip out one-time items, of $21.50 a share, down from its prior forecast for $22.28 to $22.72 a share.

Revenue is now projected to come in at $42.7 billion, a drop from previous guidance for $43.4 billion to $44 billion.

Core organic revenue, which strips out Covid-19 testing revenue and the impacts of acquisitions and foreign currency translation, is expected to rise 1%.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

October 25, 2023 06:44 ET (10:44 GMT)

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