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Thermo Fisher Scientific 8-K Report, Financial Results (Jul 23, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 23, 2026
Period End
July 23, 2026
Security
TMO
In the record · 2016–202610-K1110-Q338-K153

TMO filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 153 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’17Jul ’17
  2. Leadership change8-K · Sep ’19Sep ’19
  3. Material agreement8-K · Nov ’21Nov ’21
  4. Material agreement8-K · Oct ’25Oct ’25

01—Abstract

Summary

Summary of the 8-K filed July 23, 2026. Cited figures are marked; the original filing is the authoritative source.

Thermo Fisher Scientific reported second-quarter 2026 results (quarter ended June 27, 2026) with revenue of $11.99 billiona, up 10% from $10.86 billion a year earlier.

Organic revenue growth was 5%, so roughly half of the growth came from acquisitions, with a 1-point currency tailwind. GAAP diluted EPS rose 9% to $4.68b, and adjusted EPS rose 13% to $6.03. GAAP operating margin expanded to 17.4% from 16.9%, and adjusted operating margin reached 22.8% from 21.9%.

Free cash flow was $1.68 billionc versus $1.11 billion, and first-half free cash flow was $2.50 billion, up about 69%. Segment results were strongest in Life Sciences Solutions, where adjusted segment margin reached 37.0%, and in Analytical Instruments, where segment margin rose to 23.0% from 18.8%. The balance sheet shows the scale of recent capital deployment.

Cash fell to $4.06 billiond from $9.85 billion at year-end 2025, reflecting $8.87 billion of acquisition spending and $4.0 billion of share repurchases in the first half. Goodwill rose by about $5.5 billion and acquisition-related intangibles by about $2.8 billion, and long-term obligations increased to $39.2 billion from $35.9 billion. The company also disclosed the divestiture of its microbiology business and $1.0 billion of stock repurchases during the quarter.

Investors will want to focus on the leverage implications and on the integration progress of recent deals. The filing itself does not include updated 2026 guidance. Management said it would provide revised full-year guidance on the earnings call held the same morning, so the market reaction will depend on that outlook.

The filing also does not name the acquired business. The earnings release is furnished under Item 2.02 and is not deemed filed under Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. Q2 2026 revenue rose 10% to $11.99 billion, with organic growth of 5%, indicating roughly half of the top-line growth came from acquisitions.
  2. GAAP diluted EPS grew 9% to $4.68, and adjusted EPS grew 13% to $6.03, with the gap driven mainly by amortization of acquisition intangibles.
  3. Adjusted operating margin expanded 90 basis points to 22.8%, and GAAP operating margin improved to 17.4% from 16.9%.
  4. Free cash flow was $1.68 billion in Q2 (up from $1.11 billion) and $2.50 billion year to date (up from $1.48 billion).
  5. First-half organic revenue growth was 3%, versus 5% in Q2, so organic momentum was stronger in the second quarter.
  6. Cash declined to $4.06 billion from $9.85 billion, reflecting $8.87 billion of acquisition spending and $4.0 billion of buybacks in the first half, while long-term debt rose to $39.2 billion.
  7. Updated 2026 guidance was not in the filing and was to be provided on the earnings call the same morning.

03—Questions

Frequently Asked Questions

  1. How did Thermo Fisher perform in the second quarter of 2026?

    Revenue grew 10% to $11.99 billion, with 5% organic growth. GAAP diluted EPS was $4.68, up 9%, and adjusted EPS was $6.03, up 13%. Adjusted operating margin was 22.8%, up from 21.9%.

  2. How much of the revenue growth came from acquisitions versus the core business?

    In the quarter, acquisitions contributed about 5 percentage points of the 10% growth, currency contributed about 1 point, and organic growth was 5%. For the first half, organic growth was 3%, with acquisitions contributing 4 points and currency 2 points.

  3. What did the company do with its capital during the quarter and first half?

    The company repurchased $1.0 billion of stock in Q2 and $4.0 billion year to date. It spent $8.87 billion on acquisitions, net of cash acquired, in the first half, and it announced the divestiture of its microbiology business. Dividends paid were $337 million in the first half.

  4. Did the balance sheet weaken after the acquisitions?

    Cash fell sharply to $4.06 billion, and long-term obligations increased to $39.2 billion from $35.9 billion. Goodwill and acquisition intangibles also increased significantly, and total equity declined slightly to $52.7 billion. Leverage appears higher, though the filing does not present a leverage ratio.

  5. What should investors watch for next?

    Investors should focus on the updated full-year 2026 guidance discussed on the earnings call, the pace of organic growth in the second half, integration of recent acquisitions, and the effect of the microbiology divestiture on revenue and margins.

04—Continue

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