TMO

By Dean Seal

Thermo Fisher Scientific Inc. expects revenue to grow by less than 1% this year.

The scientific-equipment company said Wednesday that it is forecasting revenue of $45.3 billion in 2023, up from $44.92 billion last year. The 2022 figure marked a 15% jump from the year prior.

Core organic revenue, which includes the impact of revenue from clinical research services provider PPD and excludes the impact of all other acquisitions as well as Covid-19 testing revenue, is expected to grow by 7%.

Adjusted earnings for the year are projected to be $23.70 a share, the company said.

Shares edged less than 1% higher to $575 in premarket trading.

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

(END) Dow Jones Newswires

February 01, 2023 07:03 ET (12:03 GMT)

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