Thermo Fishr Sci Stock Price, News & Analysis

Thermo Fisher Scientific (NYSE: TMO) reported a 9% increase in third-quarter revenue to $9.33 billion, with GAAP diluted EPS at $4.79 and adjusted EPS rising 2% to $5.76. COVID-19 response revenue was $2.05 billion. The company raised its 2021 revenue guidance to $37.1 billion, projecting 15% growth, and adjusted EPS guidance to $23.37, indicating a 20% year-over-year growth. Major innovations included new products in oncology and biopharma, alongside expanding capacities in North Carolina and South Korea to support vaccine production.

Thermo Fisher Scientific (TMO) released its 2020 Corporate Social Responsibility (CSR) report, highlighting significant commitments to environmental, social, and governance (ESG) efforts. Key achievements include producing over 700 million PCR-based COVID-19 tests and investing $1.3 billion in diverse-owned businesses. The report also showcases initiatives for colleague support, with 40% of leadership hires being women, a $30 million investment in STEM education, and a $25 million COVID-19 testing program for historically black colleges. The company is on track to achieve a 30% reduction in greenhouse gas emissions by 2030.

Thermo Fisher Scientific (NYSE: TMO) has priced a $5.85 billion offering of senior notes, which includes $1 billion of 18-month floating rate notes, $1.35 billion of 0.797% senior notes, and $2.5 billion of 1.215% senior notes due in 2024. The offering is set to close on or about October 22, 2021. Proceeds will primarily finance the acquisition of PPD, Inc., with potential uses for general corporate purposes. Interest on floating rate notes will be paid quarterly, while fixed rate notes will pay semi-annually.

Thermo Fisher Scientific (NYSE: TMO) announced its intention to offer USD-denominated senior notes to help fund its proposed acquisition of PPD, Inc. The notes will also support general corporate purposes, such as debt refinancing and working capital. The offering is led by joint book-running managers including Barclays, Morgan Stanley, and BofA Securities. This action follows an effective registration statement filed with the SEC. Investors should note the potential risks associated with capital market conditions and the acquisition timeline.

Thermo Fisher Scientific Inc. (NYSE: TMO) will announce its third-quarter 2021 financial results on October 27, 2021, before the market opens. A conference call will follow at 8:30 a.m. EDT, where the company will discuss its performance and future outlook. Interested parties can listen via phone or through the company’s website. With an annual revenue of approximately $35 billion, Thermo Fisher is committed to supporting scientific advancement and improving global health.

Thermo Fisher Scientific has priced an offering of €5.25 billion in euro-denominated senior notes through its wholly-owned subsidiary. The notes include €1.75 billion of 0.800% notes due 2030, €1.5 billion of 1.125% notes due 2033, €1.25 billion of 1.625% notes due 2041, and €750 million of 2.000% notes due 2051. Proceeds will fund the acquisition of PPD, Inc. The offering is expected to close around October 18, 2021, and is fully guaranteed by Thermo Fisher.

Thermo Fisher Scientific (NYSE:TMO) has taken operational control of a new biologics manufacturing site in Lengnau, Switzerland, as part of its partnership with CSL Limited. This facility spans 1.5 million square feet and will enhance production capabilities with bioreactors up to 12,500L. Approximately 200 employees will join Thermo Fisher. Initially, the site will support CSL's Idelvion® production for hemophilia B, with plans for further expansion to other biopharma clients. This move strengthens Thermo Fisher's global biologics manufacturing network, including locations in the US, Netherlands, Australia, and China.

Thermo Fisher Scientific (NYSE: TMO) announced its continued $7.5 million commitment for the 2021-2022 school year to support The Just Project, providing no-cost COVID-19 testing at over 60 historically black colleges and universities (HBCUs). The initiative aims to ensure campus safety amidst rising COVID-19 cases, having conducted over 50,000 tests last year with infection rates below 1%. Additionally, Thermo Fisher plans to hire more than 500 HBCU alumni over three years to promote diversity in its workforce.

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).