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Thermo Fisher (TMO)
NYSE:TMO
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
5.27Last Year’s EPS
5.15Same Quarter Last Year
Strong Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a largely positive operational and financial picture: solid top-line growth, strong adjusted EPS growth, robust cash generation, aggressive strategic M&A and product innovation, and constructive 2026 guidance (3%–4% organic growth and 6%–8% EPS growth). Headwinds from tariffs, foreign exchange volatility, China and academic/government softness, margin pressure in Analytical Instruments, and elevated leverage represent notable near-term risks but appear manageable given the company’s PPI-driven productivity, capital deployment discipline, and pipeline of innovations and strategic deals.Company Guidance
Quarterly Revenue and EPS Growth
Q4 reported revenue rose 7% year-over-year to $12.21 billion and adjusted EPS increased 8% to $6.57 per share, driven by 3% organic growth, 2% from acquisitions, and a 2% FX tailwind.
Full-Year Financial Performance
FY2025 revenue grew 4% to $44.56 billion, adjusted operating income grew 4% to $10.11 billion, adjusted operating margin was 22.7%, and adjusted EPS grew 5% to $22.87.
Strong Operational Results and Margins
Q4 adjusted operating income was $2.88 billion (up 6%) with an adjusted operating margin of 23.6%; total-company adjusted gross margin was 41.8% in Q4 (41.7% for the full year).
Organic Growth Momentum
Q4 organic revenue growth was 3%; full-year organic growth was 2%. Management is guiding 2026 organic growth of 3%–4%, implying an acceleration from 2025.
Robust Free Cash Flow and Capital Deployment
Full-year operating cash flow was $7.82 billion and free cash flow was $6.34 billion after $1.48 billion of net capex. In 2025 the company deployed ~$16.5 billion (≈$13 billion M&A and $3.6 billion returned to shareholders).
Strategic M&A and Accretive Deal
Completed acquisitions include filtration & separation business and a Sanofi sterile fill-finish site; announced definitive agreement to acquire Clario (~$9 billion) — management expects the transaction to be accretive (Marc: ~+$0.45 adjusted EPS in first 12 months post-close; CFO: $0.20–$0.25 incremental adjusted EPS in 2026 if closed).
Segment Strength — Life Science & Biology/Biopharma
Life Science Solutions Q4 reported revenue +13% (organic +4%) with Q4 adjusted operating margin 35.5%; Biology Products & Biopharma Services Q4 reported revenue +7% (organic +5%) and Q4 adjusted operating income +12% (margin 14.5%).
Specialty Diagnostics Outperformance
Specialty Diagnostics Q4 reported revenue +5% (organic +3%); Q4 adjusted operating income increased 19% with margin at 26.6% — a 300 bps improvement versus prior-year quarter.
High-Impact Product Innovation
Notable 2025 launches and regulatory wins include Orbitrap Astro Zoom (mass spec), Thermo Scientific five-liter DynaDrive single-use bioreactor, CryoTom (cryo-EM), Helios MX-one FIB-SEM, Ion Torrent OncoMindDx FDA companion diagnostic approval, and Exens 510(k) clearance.
Guidance for 2026 Reflects Continued Growth
Management initiated 2026 guidance: revenue $46.3B–$47.2B (4%–6% reported growth) and adjusted EPS $24.22–$24.80 (6%–8% growth), assuming 3%–4% organic growth and ~50 bps adjusted operating margin expansion.
TMO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TMO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 29, 2026 | $608.02 | $592.16 | -2.61% |
Oct 22, 2025 | $557.57 | $566.77 | +1.65% |
Jul 23, 2025 | $426.92 | $465.94 | +9.14% |
Apr 23, 2025 | $433.56 | $430.48 | -0.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Thermo Fisher (TMO) report earnings?
Thermo Fisher (TMO) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is Thermo Fisher (TMO) earnings time?
Thermo Fisher (TMO) earnings time is at Apr 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TMO EPS forecast?
TMO EPS forecast for the fiscal quarter 2026 (Q1) is 5.27.
