Thermo Fisher Scientific Inc.

Thermo Fisher Scientific delivered a strong performance in the third quarter of 2025, with consolidated revenues increasing 5% to $11.12 billion, including 3% organic growth. All segments contributed positively to revenue expansion. Life Sciences Solutions saw an 8.4% increase to $2.588 billion, while Analytical Instruments grew 4.7% to $1.893 billion. Specialty Diagnostics reported a 4.0% rise to $1.174 billion, and Laboratory Products and Biopharma Services, the largest segment, increased 4.0% to $5.970 billion. This broad-based growth underscores the company's diversified portfolio and market leadership.

Profitability metrics demonstrated excellent operational efficiency. GAAP diluted EPS was $4.27, in line with the prior-year quarter, while adjusted diluted EPS grew significantly by 10% to $5.79. GAAP operating income reached $1.94 billion, resulting in a 17.4% operating margin, a slight improvement from 17.3% in Q3 2024. Adjusted operating income climbed to $2.59 billion, with the adjusted operating margin expanding to 23.3% from 22.3% year-over-year. This margin expansion highlights the effectiveness of the PPI Business System and active cost management. Net income attributable to Thermo Fisher Scientific Inc. was $1.616 billion, a minor decrease from $1.630 billion in the prior year.

The company actively pursued its proven growth strategy through strategic initiatives. Key product launches included the FDA-approved Oncomine™ Dx Express Test, a companion diagnostic for non-small cell lung cancer, and the Olink® Target 48 Neurodegeneration panel for advanced research. Thermo Fisher also strengthened its commercial engine and expanded capabilities by completing the acquisitions of Solventum's Filtration and Separation business, enhancing bioproduction, and Sanofi's Ridgefield sterile fill-finish site, boosting drug product manufacturing capacity. A notable collaboration with OpenAI was established to further integrate artificial intelligence across operations, aiming to accelerate scientific breakthroughs and enhance productivity. Management expressed high satisfaction with the quarter's operational performance and strategic execution, affirming their commitment to long-term value creation.

Looking ahead, management conveyed confidence in achieving its 2025 objectives, driven by the strength of its growth strategy and operational excellence. While specific updated financial guidance for 2025 was not provided in the press release, it was slated for discussion during the earnings conference call. The company's continued focus on innovation, strategic acquisitions, and efficient capital deployment, including the repurchase of $1.0 billion in stock during the quarter, positions it well for sustained market leadership and stakeholder value.