The earnings call highlighted Thermo Fisher's strong operational performance, driven by growth in the pharma and biotech segments, successful product launches, and strategic partnerships. However, challenges in academia, government, and the China market, along with tariff impacts, presented notable headwinds.

Company Guidance

During the Thermo Fisher Scientific 2025 Second Quarter Conference Call, the company provided updated financial guidance reflecting strong operational performance and increased projections for the year. Revenue for Q2 grew by 3% to $10.85 billion, with an adjusted operating income increase of 1% to $2.38 billion, marking an adjusted operating margin of 21.9% and an adjusted EPS of $5.36 per share. For the full year, Thermo Fisher raised its revenue guidance to $43.6 billion to $44.2 billion and adjusted EPS to $22.22 to $22.84. Despite challenges such as tariffs and a subdued macro environment, the company leveraged its PPI Business System and strategic initiatives like Accelerator Drug Development to drive shareholder value. Additionally, the company anticipates 3% to 6% organic revenue growth in 2026 and 2027, emphasizing its commitment to innovation and strategic partnerships to sustain long-term growth.

Revenue and Earnings Growth

Thermo Fisher Scientific's Q2 revenue grew by 3% to $10.85 billion, with adjusted operating income increasing by 1% to $2.38 billion. Adjusted EPS was $5.36 per share, surpassing guidance.

Bioproduction and Pharma Services Strength

The bioproduction and Pharma Services businesses experienced significant growth, contributing to the mid-single-digit growth in the pharma and biotech segment.

Innovation in Analytical Instruments

Launch of next-generation Thermo Scientific Orbitrap mass spectrometers and the Krios 5 cryo-transmission electron microscope, receiving positive customer feedback.

Capital Deployment and Partnership Expansion

Thermo Fisher announced the acquisition of Sanofi's sterile fill-finish site and the strategic partnership expansion to boost U.S. manufacturing capacity.

Raised Annual Guidance

Increased full-year guidance with revenue expected between $43.6 billion and $44.2 billion, and adjusted EPS from $22.22 to $22.84.

Thermo Fisher (TMO) Earnings, Revenues Date & History

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TMO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	5.50 / -	5.28	―	―	―
Jul 23, 2025	2025 (Q2)	5.23 / 5.36	5.37	-0.19% (>-0.01)	―
Apr 23, 2025	2025 (Q1)	5.10 / 5.15	5.11	0.78% (+0.04)	―
Jan 30, 2025	2024 (Q4)	5.94 / 6.10	5.67	7.58% (+0.43)	―
Oct 23, 2024	2024 (Q3)	5.24 / 5.28	5.69	-7.21% (-0.41)	―
Jul 24, 2024	2024 (Q2)	5.12 / 5.37	5.15	4.27% (+0.22)	―
Apr 24, 2024	2024 (Q1)	4.71 / 5.11	5.03	1.59% (+0.08)
Jan 31, 2024	2023 (Q4)	5.64 / 5.67	5.4	5.00% (+0.27)	―
Oct 25, 2023	2023 (Q3)	5.61 / 5.69	5.08	12.01% (+0.61)	―
Jul 26, 2023	2023 (Q2)	5.42 / 5.15	5.51	-6.53% (-0.36)	―

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
Jul 23, 2025	$427.62	$466.71	+9.14%
Apr 23, 2025	$434.28	$431.19	-0.71%
Jan 30, 2025	$567.16	$605.60	+6.78%
Oct 23, 2024	$584.84	$574.98	-1.69%

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.