Thermo Fisher Scientific (TMO.N) on Wednesday cut its annual profit forecast for the second straight quarter following weak demand for its services used to make therapies and vaccines as well as higher raw material costs for the year.
A sign marks the offices of Thermo Fisher Scientific offices in Waltham, Massachusetts, U.S., August 2, 2023. REUTERS/Brian Snyder/File Photoon Wednesday cut its annual profit forecast for the second straight quarter following weak demand for its services used to make therapies and vaccines as well as higher raw material costs for the year.
The impact of the macroeconomic conditions that the industry has experienced through the year increased in the third quarter, Thermo Fisher said. Thermo Fisher also cut its revenue expectations for the year to $42.7 billion, from its previous outlook of $43.4 billion to $44 billion.
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