Early Wednesday, Thermo Fisher Scientific (TMO) reported adjusted earnings of $5.69 per share on $10.57 billion in third-quarter product sales. In response, TMO stock slumped.
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Analysts surveyed by FactSet anticipated the medical gear supplier to earn $5.61 per share and report $10.6 billion in product sales.
All year long-earlier interval, Thermo Fisher earned $5.08 per share on $10.68 billion in product sales.
For the second time this yr, Thermo Fisher decrease its 2023 outlook. Now, the company expects to earn an adjusted $21.50 per share on $42.7 billion in product sales. TMO stock analysts forecasted earnings of $22.27 per share and $43.5 billion in product sales.
In premarket shopping for and promoting on the stock market as we converse, TMO stock fell 1.5% near 451.50. Shares have trended lower since early September.
Additional to watch.
Adjust to Allison Gatlin on X, the platform beforehand typically known as Twitter, at @IBD_AGatlin.
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