OpenNashEarnings

Life Sciences · NYSE: TMO

Thermo Fisher Scientific earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 28 Jan 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

Thermo Fisher Scientific reported third quarter 2026 revenue that grew 9% to $12.14 billion, GAAP diluted EPS that grew 9% to $4.64 and adjusted EPS that grew 15% to $6.68.

Thermo Fisher grew third quarter revenue 9% to $12.14 billion, with organic growth of 6%. Adjusted operating margin rose to 24.5% from 23.3% a year earlier, and adjusted EPS grew 15% to $6.68. Management credited strong pharma services, electron microscopy and China, plus a one-time tariff refund that was partly reinvested in the business.

Read the Q3 2026 summary →

Quarters

KPI history

Revenue$12.1B+9.1% y/yQ3 2026
Q4 2024: $11.4B (worked out from the annual figure)Q4 ’24$11.4BQ1 2025: $10.4BQ1 ’25$10.4BQ2 2025: $10.9BQ2 ’25$10.9BQ3 2025: $11.1BQ3 ’25$11.1BQ4 2025: $12.2B (worked out from the annual figure)Q4 ’25$12.2BQ1 2026: $11.0BQ1 ’26$11.0BQ2 2026: $12.0BQ2 ’26$12.0BQ3 2026: $12.1BQ3 ’26$12.1B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$11.4B *
Q1 2025$10.4B
Q2 2025$10.9B
Q3 2025$11.1B
Q4 2025$12.2B *
Q1 2026$11.0B
Q2 2026$12.0B
Q3 2026$12.1B
Diluted EPS (GAAP)$4.64+8.7% y/yQ3 2026
Q1 2025: $3.98Q1 ’25$3.98Q2 2025: $4.28Q2 ’25$4.28Q3 2025: $4.27Q3 ’25$4.27Q1 2026: $4.43Q1 ’26$4.43Q2 2026: $4.68Q2 ’26$4.68Q3 2026: $4.64Q3 ’26$4.64
Data
Q1 2025$3.98
Q2 2025$4.28
Q3 2025$4.27
Q1 2026$4.43
Q2 2026$4.68
Q3 2026$4.64

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin18.6%+1.1 pts y/yQ3 2026
Q4 2024: 17.7%Q4 ’2417.7%Q1 2025: 16.6%Q1 ’2516.6%Q2 2025: 16.9%Q2 ’2516.9%Q3 2025: 17.5%Q3 ’2517.5%Q4 2025: 18.5%Q4 ’2518.5%Q1 2026: 16.9%Q1 ’2616.9%Q2 2026: 17.4%Q2 ’2617.4%Q3 2026: 18.6%Q3 ’2618.6%
Data
Q4 202417.7%
Q1 202516.6%
Q2 202516.9%
Q3 202517.5%
Q4 202518.5%
Q1 202616.9%
Q2 202617.4%
Q3 202618.6%
Free cash flow$2.1B+15.1% y/yQ3 2026
Q4 2024: $2.8BQ4 ’24$2.8BQ1 2025: $361.0MQ1 ’25$361.0MQ2 2025: $1.1BQ2 ’25$1.1BQ3 2025: $1.8BQ3 ’25$1.8BQ4 2025: $3.0BQ4 ’25$3.0BQ1 2026: $816.0MQ1 ’26$816.0MQ2 2026: $1.7BQ2 ’26$1.7BQ3 2026: $2.1BQ3 ’26$2.1B
Data
Q4 2024$2.8B
Q1 2025$361.0M
Q2 2025$1.1B
Q3 2025$1.8B
Q4 2025$3.0B
Q1 2026$816.0M
Q2 2026$1.7B
Q3 2026$2.1B

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$11.4Bd$10.4B$10.9B$11.1B$12.2Bd$11.0B$12.0B$12.1B
Operating income$2.0Bd$1.7B$1.8B$1.9B$2.3Bd$1.9B$2.1B$2.3B
Operating margin17.7%16.6%16.9%17.5%18.5%16.9%17.4%18.6%
Net income$1.8Bd$1.5B$1.6B$1.6B$2.0Bd$1.7B$1.7B$1.7B
Diluted EPS—$3.98$4.28$4.27—$4.43$4.68$4.64
Operating cash flow$3.3Bd$723.0M$1.4Bd$2.2Bd$3.5Bd$1.2B$2.1Bd$2.5Bd
Capital expenditure$480.0Md$362.0M$294.0Md$404.0Md$465.0Md$376.0M$450.0Md$437.0Md
Free cash flow$2.8B$361.0M$1.1B$1.8B$3.0B$816.0M$1.7B$2.1B
R&D expense$374.0Md$342.0M$352.0M$346.0M$356.0Md$336.0M$364.0M$348.0M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings