10-QPeriod: Q2 FY2026

THERMO FISHER SCIENTIFIC INC. Quarterly Report for Q2 Ended Jun 27, 2026

Filed July 31, 2026For Securities:TMO

Summary

Thermo Fisher Scientific Inc. (TMO) reported strong financial results for the quarter and six months ended June 27, 2026, demonstrating robust revenue growth and improved profitability. Total revenues increased by 10% in the quarter and 8% for the year-to-date period, driven by strong performance across its diverse business segments, particularly Life Sciences Solutions and Laboratory Products and Biopharma Services. The company saw significant contributions from recent acquisitions, notably Clario Holdings, Inc., which bolstered its clinical research offerings. Profitability metrics also showed improvement, with GAAP operating income up 14% for the quarter and adjusted operating income margin expanding by 90 basis points. This growth was attributed to strong productivity improvements, successful integration of acquisitions, and favorable market conditions in key end markets like pharmaceutical and biotech. The company's strategic focus on innovation, customer partnerships, and its commercial engine continues to yield positive results, positioning Thermo Fisher for sustained growth.

Key Highlights

  • 1Total revenues increased by 10% to $11.99 billion for the three months ended June 27, 2026, and by 8% to $22.99 billion for the six months ended June 27, 2026, compared to the prior year periods.
  • 2GAAP operating income grew by 14% to $2.09 billion for the three months and 11% to $3.95 billion for the six months, while adjusted operating income margins expanded, indicating strong operational efficiency.
  • 3The Life Sciences Solutions segment reported a 13% revenue increase for the quarter, driven by strong demand in bioproduction, and a 13% increase for the six months.
  • 4The Laboratory Products and Biopharma Services segment saw a 12% revenue increase for the quarter and 9% for the six months, significantly boosted by the acquisition of Clario Holdings, Inc.
  • 5The company repurchased $4.00 billion of its common stock in the first six months of 2026 under its authorized share repurchase program, demonstrating a commitment to returning capital to shareholders.
  • 6Free cash flow generation remained strong, with $2.50 billion generated in the first six months of 2026, up from $1.48 billion in the prior year period, supporting capital allocation strategies.
  • 7The company announced an agreement to sell its microbiology business to Astorg for approximately $1.075 billion, expected to close in the third quarter of 2026, indicating strategic portfolio management.

Frequently Asked Questions

Thermo Fisher Scientific demonstrated strong financial performance, with total revenues increasing by 10% to $11.99 billion for the three months ended June 27, 2026, and by 8% to $22.99 billion for the six months ended June 27, 2026. Profitability also improved, with GAAP operating income up 14% for the quarter and adjusted operating income margin expanding, reflecting strong operational execution and productivity improvements.

Recent acquisitions, particularly Clario Holdings, Inc. in the Laboratory Products and Biopharma Services segment, have had a significant positive impact on revenue growth. The integration of Clario expanded the company's clinical research offerings and contributed substantially to the segment's revenue increase. The acquisition of the filtration and separation business from Solventum Corporation also bolstered the Life Sciences Solutions segment.

The company generated strong free cash flow, with $2.50 billion in the first six months of 2026, supporting its capital allocation priorities. These priorities include strategic acquisitions, share repurchases (with $4.00 billion repurchased in the first six months of 2026), and dividend payments. The company expects its existing cash, future operating cash flow, and available credit facilities to be sufficient to meet its cash requirements for at least the next 24 months.

Yes, Thermo Fisher Scientific has entered into an agreement to sell its microbiology business to Astorg for approximately $1.075 billion, which is expected to close in the third quarter of 2026. This divestiture suggests a strategic focus on core business areas and portfolio optimization.