Thermo Fisher Scientific Inc. (TMO) Earnings
Thermo Fisher Scientific Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $5.75. TMO has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +3.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $5.25 | $5.44 | +3.6% | $11.0B | +1.3% |
| Jan 29, 2026 | $6.45 | $6.57 | +1.9% | $12.2B | +2.2% |
| Oct 22, 2025 | $5.50 | $5.79 | +5.3% | $11.1B | +1.9% |
| Jul 23, 2025 | $5.23 | $5.36 | +2.5% | $10.9B | +1.6% |
| Apr 23, 2025 | $5.10 | $5.15 | +1.0% | $10.4B | +1.3% |
| Jan 30, 2025 | $5.94 | $6.10 | +2.7% | $11.4B | +1.0% |
| Oct 23, 2024 | $5.25 | $5.28 | +0.6% | $10.6B | -0.3% |
| Jul 24, 2024 | $5.12 | $5.37 | +4.9% | $10.5B | +0.3% |
| Jan 31, 2024 | $5.64 | $5.67 | +0.5% | $10.9B | +1.5% |
| Oct 25, 2023 | $5.61 | $5.69 | +1.4% | $10.6B | -0.7% |
| Jul 26, 2023 | $5.43 | $5.15 | -5.2% | $10.7B | -2.7% |
| Feb 1, 2023 | $5.19 | $5.40 | +4.0% | $11.4B | +9.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Mark began by recapping first quarter financials. End markets: Pharma and biotech had mid-single digit growth; Academic and Government had low single digit decline; Industrial and Applied was flat; Diagnostics and Healthcare had mid-single digit decline. Innovation: Launched technologies like thermoscientific Glacios III CryoTEM, TSQ-CIRTIS triple-quad mass spectrometer, etc. Strategic collaborations: With NVIDIA and SHL Medical. Commercial engine: Opened a new Cryo-EM drug discovery center. Completed acquisition of Clario, adding $30 million revenue and one cent to adjusted EPS. PPI business system focused on cost productivity, AI deployment, and tariff mitigation.
Guidance
Full-year revenue guidance revised to $47.3 billion - $48.1 billion from $46.3 billion - $47.2 billion, representing 6% - 8% reported revenue growth over 2025 with 3% - 4% organic revenue growth. Adjusted EPS expected in $24.64 - $25.12 range, 8% - 10% growth over 2025. Q2 expected 3% organic revenue growth, Q2 adjusted EPS to be 25 - 30 cents higher than Q1.
Segment performance
Revenue reached $11.01 billion with a 6% growth. Adjusted operating income was $2.4 billion, up 6%. Adjusted operating margin was 21.8% and adjusted EPS was $5.44 per share, up 6%. By product segment: Life Sciences Solutions saw a 13% increase in Q1 reported revenue vs prior year, 1% organic growth, adjusted operating income up 14% with a 36.2% margin. Analytical Instruments had flat Q1 reported revenue, 2% organic revenue decline y/y, adjusted operating income down 11% with a 20.7% margin. Specialty Diagnostics had 1% y/y revenue decline, 3% organic revenue decline, adjusted operating income up 3% with a 27.4% margin. Laboratory Products and Biopharma Services had 7% revenue increase, 4% organic growth, adjusted operating income up 6% with a 12.9% margin.
Risks & headwinds
Forward-looking statements may differ from actual results due to factors in Form 10-K and 10-Q risk factors. Middle East conflict causing inflationary pressure. Inflation volatility potentially impacting results if not mitigated.
Analyst Q&A
Q: Michael Riskin from Bank of America inquired about assuaging fears regarding the ramp to hit the full year guide.
A: Mark stated customers are focused on pipelines and scientific advances, markets played out as expected, Jim discussed phasing.
Q: Tycho Peterson from Jefferies asked about the biopharma thread, PPD, biotech funding, and Clario.
A: Mark said clinical research had an excellent quarter, biotech environment improving, Clario early feedback positive.
Q: Jack Meehan from Nefron Research asked about AI, customer spending behavior, and analyst day.
A: Mark mentioned analyst day on May 20th, AI accelerating scientific discovery, Jim talked about higher inflation and mitigation strategy.
Q: Dan Arias from Stackful asked about retire risk and pharma services phasing.
A: Mark said the team is focused on offsetting inflation, Jim talked about selling days and phasing.
Q: Matt LaRue from William Blair asked about AI, insurance innovation, and reshoring.
A: Mark talked about AI, reshoring momentum.
Q: Dan Brennan from TD Cowan asked about pharma preclinical and U.S. academic and government.
A: Mark talked about pharma preclinical and U.S. academic and government conditions.
Q: Casey Woodring from JP Morgan asked about specialty diagnostics performance and China.
A: Mark talked about specialty diagnostics phasing and China's position.
Q: Justin Bowers from Deutsche Bank asked about research and safety market channel and clinical business.
A: Mark talked about research and safety market channel and clinical business appetite.