What caused TMO's Q3 2024 EPS to miss forecasts?

Thermo Fisher Scientific's Q3 2024 EPS missed forecasts due to several factors: 1. **Revenue Decline**: There was a 4.9% year-over-year decrease in revenue, amounting to $10.89 billion, which fell short of the expected revenue. This decline was observed across segments, including Laboratory Products and Biopharma Services, despite contributions from Analytical Instruments. 2. **Cost of Sales**: The cost of sales reached $25.2 billion, accounting for 59% of the total revenue, indicating a significant impact on earnings. 3. **General & Administrative Costs**: The largest operating expense was General & Administrative costs, totaling $8.60 billion, which constituted 76% of the total expenses. 4. **Foreign Exchange**: The company noted that foreign exchange movements negatively impacted revenue by 2.5%. This implies that the fluctuating currency markets contributed to the revenue shortfall. In summary, TMO's Q3 2024 EPS missed forecasts due to a combination of revenue decline, cost of sales, general and administrative costs, and foreign exchange impacts.