“We delivered outstanding performance in the second quarter, reflecting the strength of our proven growth strategy, our team’s excellent execution and the power of our PPI Business System,” said Marc N. Casper, chairman and chief executive officer of Thermo Fisher Scientific. “Our end markets continue to strengthen and we're making great progress enhancing our capabilities, and further advancing our trusted partner status with customers, leading to continued share gain.”

Casper added, “At the halfway point of the year, we are well positioned to deliver a great 2026 and build an even brighter future for our company.”

Revenue Grew 10% Including 5% Organic Revenue Growth

Grew GAAP Diluted EPS 9% and Adjusted EPS 13%

Customer Activity Across Our End Markets Continued to Strengthen

Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today reported its financial results for the second quarter ended June 27, 2026.

Second Quarter Highlights

• Second quarter revenue grew 10% to $11.99 billion
• Second quarter GAAP diluted earnings per share (EPS) grew 9% to $4.68
• Second quarter adjusted EPS grew 13% to $6.03

Growth Strategy and Capital Deployment

• Advanced our proven growth strategy, launching a range of high-impact, innovative new products during the quarter. At the American Society for Mass Spectrometry conference, we introduced next-generation Orbitrap platforms with AI-driven analytics. Highlights include the Thermo Scientific™ Orbitrap™ Tribrid™ Apex Mass Spectrometer, which enables researchers to study complex biology across multiomics, structural biology, biopharma characterization and small-molecule analysis on a single system, and the Thermo Scientific™ Orbitrap™ Excedion™ Mass Spectrometer, which enables scientists to identify hard-to-detect molecules in drug development, reducing risk and accelerating time to market. We also introduced the Applied Biosystems™ PowerFlex™ Thermal Cycler, a next-generation PCR system designed to improve workflow flexibility, speed and reproducibility for molecular biology laboratories.

• Strengthened our industry-leading commercial engine and deepened our trusted partner status with customers. During the quarter, we opened our flagship U.S. Bioprocess Design Center in Plainville, Massachusetts, expanding our global network of collaborative innovation hubs enabling pharma and biotech customers to accelerate drug development and optimize manufacturing. We also announced a strategic collaboration with Precision Health Research, Singapore to support the PRECISE-SG100K population health study, leveraging our integrated proteomics capabilities, including Olink® technology and the Thermo Scientific™ Orbitrap™ Astral™ mass spectrometry system, to advance precision medicine.

• Continued to successfully execute our capital deployment strategy. During the quarter, we announced the divestiture of our microbiology business and repurchased $1.0 billion of stock.

Financial Results

Revenue for the second quarter of 2026 grew 10% to $11.99 billion, versus $10.85 billion in the same quarter of 2025. Organic revenue growth was 5%.

GAAP Earnings Results

GAAP diluted EPS in the second quarter of 2026 was $4.68, 9% growth versus the second quarter of 2025. GAAP operating income for the second quarter of 2026 was $2.09 billion, 14% higher than the year-ago quarter. GAAP operating margin was 17.4%, compared with 16.9% in the second quarter of 2025.

Non-GAAP Earnings Results

Adjusted EPS for the second quarter of 2026 was $6.03, 13% growth versus the second quarter of 2025. Adjusted operating income for the second quarter of 2026 was $2.73 billion, 15% higher than the year-ago quarter. Adjusted operating margin was 22.8%, compared with 21.9% in the second quarter of 2025.

Annual Guidance for 2026

The company will provide updated 2026 financial guidance during its earnings conference call this morning at 8:30 a.m. Eastern Time.

Use of Non-GAAP Financial Measures

Adjusted EPS, adjusted net income, adjusted operating income, adjusted operating margin, free cash flow, and organic revenue growth are non-GAAP measures that exclude certain items detailed after the tables that accompany this press release, under the heading “Supplemental Information Regarding Non-GAAP Financial Measures.” The reconciliations of GAAP to non-GAAP financial measures are provided in the tables that accompany this press release.