Thermo Fisher beats second-quarter expectations as customer demand strengthens (NYSE:TMO)

Thermo Fisher Scientific (NYSE:TMO) reported better-than-expected second-quarter earnings on Thursday, driven by improving customer activity across its end markets and continued organic growth.

The stronger results lifted investor sentiment, sending the life sciences company’s shares more than 3% higher in premarket trading.

Earnings and revenue surpass forecasts

Thermo Fisher posted adjusted earnings of $6.03 per share for the quarter ended June 27, 2026, comfortably ahead of analysts’ consensus estimate of $5.72.

Revenue increased 10% year over year to $11.99 billion, exceeding market expectations of $11.71 billion and improving from $10.85 billion in the same period last year.

Organic revenue grew 5% during the quarter, reflecting broad-based demand across the company’s businesses.

Improving end markets support growth

Chairman and Chief Executive Officer Marc N. Casper said, “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.”

He added, “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.”

GAAP diluted earnings per share increased 9% to $4.68, while adjusted operating margin expanded to 22.8% from 21.9% a year earlier.

Laboratory Products remains the largest business

The Laboratory Products and Biopharma Services segment generated $6.69 billion in revenue during the quarter, accounting for 55.8% of the company’s total sales.

The division continued to benefit from demand across laboratory, pharmaceutical and biotechnology customers.

Company expands capabilities and returns capital

During the quarter, Thermo Fisher introduced its next-generation Orbitrap platforms featuring AI-driven analytics and opened a new flagship U.S. Bioprocess Design Center in Plainville, Massachusetts.

The company also repurchased $1.0 billion of its own shares and announced plans to divest its microbiology business as part of its ongoing portfolio optimisation strategy.

Management said updated financial guidance for 2026 will be provided during the company’s earnings conference call.

Thermo Fisher Scientific stock price