Thermo Fisher Scientific Inc
TMO · NYSE
Next quarter
Expected to report Oct 21, 2026 — estimated from last year’s reporting date.
Consensus is $6.40 EPS for Sep 2026 across 8 estimates, ranging $6.37 to $6.47.
TMO Jun 2026
- 5.60%
- -0.71%
- $5.71
- $6.03
- —
- $11.99B
Reported results
- $11.99B
- $2.09B
- 17.40%
- $1.74B
- $4.68
Highlights
- Second-quarter revenue was $11.994 billion, up from $10.855 billion a year earlier, while net income attributable to Thermo Fisher was $1.736 billion versus $1.617 billion.
- Product revenue was $6.823 billion, compared with $6.249 billion in the prior-year quarter; service revenue was $5.171 billion versus $4.605 billion.
- Operating income increased to $2.087 billion from $1.834 billion, and diluted earnings per share rose to $4.68 from $4.28.
- Six-month operating cash flow was $3.317 billion, while purchases of property, plant and equipment were $826 million and acquisitions, net of cash acquired, were $8.872 billion.
- No segment-level results or forward guidance ranges were included in the supplied material.
Analysis
No consensus figures are on file, so the quarter cannot be judged against analyst expectations. Against the prior-year quarter, Thermo Fisher delivered revenue of $11.994 billion versus $10.855 billion and net income attributable to the company of $1.736 billion versus $1.617 billion. Both disclosed revenue streams contributed: product revenue rose to $6.823 billion from $6.249 billion, while service revenue increased to $5.171 billion from $4.605 billion. Operating income advanced to $2.087 billion from $1.834 billion, despite total costs and operating expenses rising to $9.907 billion from $9.021 billion. Service costs increased to $3.650 billion from $3.207 billion, and selling, general and administrative expense increased to $2.333 billion from $2.140 billion. Interest income declined to $207 million from $297 million, partly offset by other income of $31 million versus prior-year other expense of $19 million.
Guidance
No forward guidance was given in the supplied filing material. There are no management ranges for upcoming revenue, earnings per share, operating income, margins, cash flow, or capital expenditures, and no comparison with a prior guide is available. The filing reports six-month capital expenditures of $826 million, but does not provide a full-year capex target. It also reports $8.872 billion of acquisitions, net of cash acquired, during the first six months, without describing a forward acquisition outlook or attaching assumptions to future operating performance.
What drove it
- Product revenue — Product revenue increased to $6.823 billion from $6.249 billion in the prior-year quarter.
- Service revenue — Service revenue rose to $5.171 billion from $4.605 billion.
- Operating income — Operating income reached $2.087 billion, compared with $1.834 billion a year earlier.
- Cash investment — Six-month purchases of property, plant and equipment totaled $826 million, alongside $8.872 billion of acquisitions, net of cash acquired.
Watch items
- Service costs rose to $3.650 billion from $3.207 billion, while selling, general and administrative expense increased to $2.333 billion from $2.140 billion.
- Interest income declined to $207 million from $297 million, and equity in earnings shifted to a $15 million loss from $2 million of income.
- The company used $8.797 billion in investing activities during the first six months, including $8.872 billion of acquisitions, net of cash acquired, while cash, cash equivalents and restricted cash declined to $4.096 billion from $9.879 billion at the beginning of the period.
- Long-term obligations increased to $39.181 billion at June 27, 2026, from $35.852 billion at December 31, 2025.
