Summary
Thermo Fisher Scientific Inc. reported relatively flat revenue for the year ended December 31, 2024, compared to the previous year, with consolidated revenues of $42.88 billion. While GAAP operating income saw a 7% increase to $7.34 billion, adjusted operating income slightly decreased by 1% to $9.71 billion. Diluted earnings per share (EPS) on a GAAP basis increased by 7% to $16.53, while adjusted EPS grew by 1% to $21.86. The company experienced a significant decline in COVID-19 related sales, which impacted the Life Sciences Solutions segment with a 3% revenue decrease. However, growth in Analytical Instruments and Specialty Diagnostics, alongside a slight increase in Laboratory Products and Biopharma Services, helped offset these declines. Strategic investments in innovation and commercial capabilities were noted as drivers for growth in academic, government, industrial, and applied markets, despite a muted macroeconomic environment impacting most end markets and geographies.
Financial Highlights
55 data points| Revenue | $42.88B |
| R&D Expenses | $1.39B |
| SG&A Expenses | $8.60B |
| Operating Expenses | $35.54B |
| Operating Income | $7.34B |
| Net Income | $6.34B |
| EPS (Basic) | $16.58 |
| EPS (Diluted) | $16.53 |
| Shares Outstanding (Basic) | 382.00M |
| Shares Outstanding (Diluted) | 383.00M |
Key Highlights
- 1Consolidated revenues remained stable at $42.88 billion for the year ended December 31, 2024, showing a 0% change from the prior year, primarily due to a decline in COVID-19 related product sales.
- 2GAAP operating income increased by 7% to $7.34 billion, while adjusted operating income slightly decreased by 1% to $9.71 billion, reflecting the impact of strategic investments and business mix.
- 3Diluted Earnings Per Share (EPS) on a GAAP basis rose 7% to $16.53, and adjusted EPS increased 1% to $21.86, indicating solid profitability.
- 4The Life Sciences Solutions segment experienced a 3% organic revenue decline, largely attributable to the moderation of COVID-19 related revenue.
- 5The Analytical Instruments segment saw a 3% organic revenue increase, driven by strong performance in electron microscopy, while Specialty Diagnostics grew 2% organically.
- 6Laboratory Products and Biopharma Services reported flat organic revenue growth, with contributions from the research and safety channel and clinical research business offset by reduced COVID-19 vaccine and therapy activity.
- 7Thermo Fisher Scientific repurchased $4.00 billion of its common stock during 2024 and paid $0.58 billion in cash dividends, demonstrating a commitment to returning capital to shareholders.