Thermo Fisher Scientific Approves New $5 Billion Share Repurchase Program
Thermo Fisher Scientific (TMO) has authorized a new share repurchase program totaling $5 billion. This significant capital allocation replaces the company's previous buyback authorization, which had approximately $1 billion in remaining capacity. The announcement follows a strong third-quarter performance where the company exceeded market expectations. Thermo Fisher reported Non-GAAP earnings per share of $6.68, beating estimates by $0.28, and revenue of $12.14 billion, surpassing projections by $190 million, driven largely by outperformance in its laboratory products unit.
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