Thermo Fisher Scientific (NYSE:TMO) Announces Earnings Results

25 Jul 2026, 07:42 by Teresa Graham · The Cerbat Gem

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) posted its quarterly earnings results on Thursday. The medical research company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.71 by $0.32, FiscalAI reports. The business had revenue of $11.99 billion for the quarter, compared to the consensus estimate of $11.71 billion. Thermo Fisher Scientific had a return on equity of 17.09% and a net margin of 15.04%.The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.28 EPS. Thermo Fisher Scientific updated its FY 2026 guidance to 24.930-25.330 EPS.

Here are the key takeaways from Thermo Fisher Scientific’s conference call:

Thermo Fisher reported a strong second quarter, with revenue up 10% to $11.99 billion, adjusted EPS up 13% to $6.03, and organic revenue growth of 5% ahead of prior guidance.
Management said customer activity strengthened across end markets, with particular momentum in pharma/biotech, plus positive growth in academic and government, industrial and applied, and diagnostics and healthcare.
The company raised full-year 2026 guidance for both revenue and EPS, now expecting $47.4 billion-$48.1 billion of revenue and adjusted EPS of $24.93-$25.33, reflecting stronger second-half expectations.
Several growth initiatives performed well, including Clario and filtration/separation acquisitions, which management said are integrating smoothly and contributing to higher acquisition revenue and EPS expectations for the year.
Thermo Fisher announced it will divest its microbiology business in the third quarter, and used $1 billion of expected proceeds for share repurchases in Q2; management said the divestiture will modestly reduce 2026 revenue and EPS.

Thermo Fisher Scientific Trading Down 0.9%

NYSE TMO opened at $567.34 on Friday. The stock has a market cap of $210.83 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.51 and a beta of 0.87. The company has a current ratio of 1.55, a quick ratio of 1.15 and a debt-to-equity ratio of 0.74. Thermo Fisher Scientific has a 12-month low of $435.27 and a 12-month high of $643.99. The company has a fifty day simple moving average of $494.01 and a two-hundred day simple moving average of $513.46.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.34%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TMO. HSBC downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and reduced their target price for the stock from $670.00 to $540.00 in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a “buy” rating and set a $630.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday. Wall Street Zen downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Sanford C. Bernstein initiated coverage on Thermo Fisher Scientific in a research report on Friday, June 26th. They set a “market perform” rating and a $520.00 price target on the stock. Finally, Weiss Ratings upgraded Thermo Fisher Scientific from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $613.05.

Read Our Latest Analysis on Thermo Fisher Scientific

Insider Activity

In related news, COO Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $462.66, for a total value of $185,064.00. Following the completion of the transaction, the chief operating officer owned 25,051 shares in the company, valued at $11,590,095.66. This trade represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. J. Stern & Co. LLP boosted its position in Thermo Fisher Scientific by 58,006.4% in the fourth quarter. J. Stern & Co. LLP now owns 31,509,332 shares of the medical research company’s stock valued at $18,258,082,000 after buying an additional 31,455,105 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Thermo Fisher Scientific by 19.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,701,353 shares of the medical research company’s stock worth $4,462,550,000 after acquiring an additional 1,230,872 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Thermo Fisher Scientific by 1,539.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 954,327 shares of the medical research company’s stock valued at $552,985,000 after purchasing an additional 896,125 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Thermo Fisher Scientific by 89.1% during the 2nd quarter. Corient Private Wealth LLC now owns 1,752,607 shares of the medical research company’s stock valued at $720,576,000 after purchasing an additional 825,649 shares in the last quarter. Finally, Viking Global Investors LP purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $459,612,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Key Thermo Fisher Scientific News

Here are the key news stories impacting Thermo Fisher Scientific this week:

Positive Sentiment: Thermo Fisher beat Q2 expectations on both earnings and revenue, reporting $6.03 in adjusted EPS versus $5.71 expected and $11.99 billion in revenue versus $11.71 billion expected, with organic revenue up 5% year over year. Reuters article
Positive Sentiment: The company raised its FY 2026 guidance, signaling management’s confidence that customer demand recovery should continue and that the stronger quarter was not a one-off. Business Wire article
Positive Sentiment: Analysts pointed to broad-based improvement in life sciences and biopharma activity, plus price target upgrades, as additional support for the stock’s rally. Yahoo Finance article
Neutral Sentiment: Thermo Fisher also launched InstaFlux for food microbiology labs, a product announcement that may help long-term workflow adoption but is not likely the main driver of the stock move today. Business Wire article
Neutral Sentiment: One analyst note suggested the strong quarter may not materially change the second-half outlook, indicating some caution after the earnings beat. Yahoo Finance article

About Thermo Fisher Scientific

(Get Free Report)

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.