Thermo Fisher Scientific reported adjusted earnings of $6.68 per share, up 15%

Thermo Fisher $TMO Scientific reported third-quarter results on Wednesday, with adjusted earnings per share of $6.68, up 15% from a year earlier, on revenue of $12.14 billion, up 9%.

Revenue compared with $11.12 billion in the same quarter of 2025. Organic revenue growth was 6%, and acquisitions and divestitures added 3 percentage points to the total. Currency translation had no effect.

GAAP diluted earnings per share rose 9% to $4.64. GAAP operating income was $2.26 billion, up 17%, and GAAP operating margin was 18.6%, compared with 17.4% a year earlier.

Adjusted operating income rose 15% to $2.97 billion. Adjusted operating margin was 24.5%, compared with 23.3% in the third quarter of 2025.

The company said it will provide updated 2026 financial guidance during its earnings conference call, scheduled for 7 a.m. ET on Wednesday. The earnings release did not include guidance figures.

"We are very pleased to deliver another excellent quarter," Marc Casper, the company's chairman and chief executive officer, said in a statement. Casper credited the company's growth strategy and its PPI Business System for the results.

Free cash flow was $2.12 billion in the quarter, compared with $1.84 billion a year earlier.

Laboratory Products and Biopharma Services was the largest segment, with revenue of $6.86 billion, up from $5.97 billion. Life Sciences Solutions revenue rose to $2.72 billion from $2.59 billion, and Analytical Instruments revenue rose to $2.00 billion from $1.89 billion. Specialty Diagnostics revenue fell to $1.10 billion from $1.17 billion.

Segment income margins widened in Analytical Instruments, to 26.9% from 22.6%, and in Specialty Diagnostics, to 31.0% from 27.4%.

The company said it completed its previously announced divestiture of its microbiology business during the quarter. Its adjusted results exclude a $72 million gain on the sale of a business and a $244 million loss tied to a held-for-sale business.

For the first nine months of 2026, revenue grew 9% to $35.14 billion and adjusted EPS was $18.15, compared with $16.30 a year earlier. Organic revenue growth for the nine-month period was 4%.