Core Insights - Thermo Fisher Scientific reported Q2 2025 results that exceeded revenue and non-GAAP EPS expectations, with revenue of $10.85 billion and non-GAAP EPS of $5.36, compared to estimates of $10.68 billion and $5.23 respectively [1][2] - Revenue increased by 3.0% year-over-year, but operating margins tightened and free cash flow fell sharply, indicating challenges in profitability [1][6] Financial Performance - Non-GAAP EPS was $5.36, slightly down by 0.2% from $5.37 a year ago [2] - GAAP revenue reached $10.85 billion, up from $10.54 billion in Q2 2024, marking a 3.0% increase [2] - GAAP operating margin decreased to 16.9%, while adjusted operating margin fell to 21.9%, both down by 0.4 percentage points from the previous year [2][6] - Free cash flow dropped by 33.8% year-over-year to $1.11 billion from $1.67 billion [2][7] Business Overview - Thermo Fisher operates in four main segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Biopharma Services [3] - The company focuses on research, diagnostics, and manufacturing for pharmaceutical, biotechnology, healthcare, and academic markets [3] Strategic Focus - The company emphasizes innovation, strategic acquisitions, regulatory compliance, and market diversification [4] - Significant investments in R&D, totaling $352 million or 3.2% of quarterly sales, support the development of new instruments and diagnostic kits [12] Segment Performance - Life Sciences Solutions revenue grew by 6.1%, while Laboratory Products & Biopharma Services expanded by 4.1% [5] - Analytical Instruments segment revenue declined by 3.0%, raising concerns due to competitive pressures and tariff impacts [5][11] Challenges and Developments - The decline in operating margins was most pronounced in the Analytical Instruments segment, where income margin fell from 24.6% to 18.8% [6] - Management noted that new tariffs and changes in US government funding priorities could reduce revenue by an estimated $500 million for the year [11] - The company continued to launch new products, including advanced mass spectrometers and electron microscopes, to support biomedical research [8][9] Future Outlook - Thermo Fisher maintained its full-year revenue guidance of $43.3 billion to $44.2 billion, with organic growth projected at 1-3% and adjusted EPS between $21.76 and $22.84 [14] - Ongoing margin pressures and declines in Analytical Instruments will be key areas to monitor in the coming quarters [15]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced and qualified news journalists who produce independent content [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Core Insights - Thermo Fisher Scientific Inc. reported second-quarter 2025 adjusted earnings per share (EPS) of $5.36, exceeding the Zacks Consensus Estimate by 2.7%, but down 0.2% year over year [1] - The company's revenues for the quarter increased by 2.9% year over year to $10.85 billion, surpassing the Zacks Consensus Estimate by 1.9% [2] - The GAAP EPS was $4.28, reflecting a 6% increase year over year [1] Revenue Breakdown - Life Sciences Solutions segment revenues increased by 6.1% year over year to $2.50 billion, exceeding the model's estimate of $2.37 billion [3] - Analytical Instruments segment revenues declined by 3% year over year to $1.73 billion, missing the model's estimate of $1.84 billion [4] - Specialty Diagnostics segment revenues rose by 1.5% year over year to $1.13 billion, falling short of the model's prediction of $1.15 billion [5] - Laboratory Products and Biopharma Services segment revenues increased by 4.1% year over year to $5.99 billion, surpassing the model's estimate of $5.71 billion [6] Margin Performance - Gross margin for the second quarter was 41.2%, a contraction of 83 basis points year over year due to a 4.4% increase in the cost of revenues [6] - Selling, general and administrative expenses rose by 5.4% to $1.78 billion, while research and development expenses increased by 3.8% to $352 million [7] - The adjusted operating margin was 21.6%, reflecting a contraction of 124 basis points [7] Financial Position - At the end of the second quarter, the company had cash and cash equivalents and short-term investments of $6.39 billion, up from $5.95 billion at the end of the first quarter [9] - Cumulative net cash from operating activities was $2.12 billion, down from $3.21 billion a year ago [9] Strategic Developments - The company launched several next-generation instruments, including the Thermo Scientific Orbitrap Astral Zoom mass spectrometer and the DynaDrive single-use bioreactor portfolio, which contributed to commercial performance [12] - These innovations are aimed at enhancing research capabilities in complex diseases and advancing precision medicine [12] Overall Assessment - Thermo Fisher's second-quarter results exceeded expectations, with growth in most segments except Analytical Instruments [11] - The contraction in margins is a point of concern, but the company is expected to provide guidance for 2025 in the upcoming earnings call [11]

Core Insights - Thermo Fisher Scientific reported revenue of $10.86 billion for the quarter ended June 2025, marking a year-over-year increase of 3% and a surprise of +1.94% over the Zacks Consensus Estimate of $10.65 billion [1] - The company's EPS for the same period was $5.36, slightly down from $5.37 a year ago, with an EPS surprise of +2.68% compared to the consensus estimate of $5.22 [1] Revenue Performance - Organic revenue growth was 2%, exceeding the five-analyst average estimate of 1.5% [4] - Laboratory Products and Biopharma Services generated $6 billion, surpassing the average estimate of $5.74 billion by four analysts, representing a +4.1% change year-over-year [4] - Specialty Diagnostics revenue was $1.13 billion, slightly below the average estimate of $1.15 billion, reflecting a +1.5% year-over-year change [4] - Life Sciences Solutions revenue reached $2.5 billion, exceeding the average estimate of $2.4 billion, with a +6.1% change compared to the previous year [4] - Eliminations reported $-501 million, worse than the average estimate of $-475.96 million, but showing a +6.6% change year-over-year [4] - Analytical Instruments revenue was $1.73 billion, below the average estimate of $1.79 billion, indicating a year-over-year decline of -3% [4] Stock Performance - Thermo Fisher's shares returned +5.8% over the past month, closely aligning with the Zacks S&P 500 composite's +5.9% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

智通财经7月23日电，医药巨头赛默飞世尔大涨超10%，公司Q2营收108.5亿美元，超市场预期。 ...

Financial Data and Key Metrics Changes - Revenue for Q2 grew 3% to $10.85 billion, with adjusted operating income increasing 1% to $2.38 billion [6][28] - Adjusted operating margin was 21.9%, and adjusted EPS was $5.36 per share, exceeding guidance [7][26] - Free cash flow was $1.5 billion after $645 million in net capital expenditures, with cash and short-term investments totaling $6.4 billion [30][31] Performance by Business Segment - Life Science Solutions reported a 6% increase in revenue, with organic growth of 4%, driven by bioproduction [32] - Analytical Instruments saw a 3% decline in reported revenue, with organic growth down 4%, primarily due to tariffs and muted demand [34] - Specialty Diagnostics revenue grew 2% year-over-year, with adjusted operating margin at 27% [35] - Laboratory Products and Biopharma Services segment reported a 4% increase in revenue, with organic growth of 3% [36] Market Data and Key Metrics Changes - North America and Europe experienced low single-digit growth, while Asia Pacific declined low single digits, with China seeing a high single-digit decline [27] - The academic and government market faced mid-single-digit revenue decline due to customer hesitancy [9] Company Strategy and Industry Competition - The company focuses on high-impact innovation, trusted partner status, and a strong commercial engine to drive growth [10][12] - Recent product launches include advanced mass spectrometers and a cryo transmission electron microscope, enhancing competitive positioning [11] - The company is actively managing costs and navigating tariff impacts through its PPI business system [18][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth drivers, expecting organic revenue growth of 3% to 6% in 2026 and 2027 [21][23] - The company anticipates a gradual improvement in end markets, particularly in pharma and biotech, with a focus on customer collaboration [20][22] - Management highlighted the importance of maintaining strong relationships with customers to navigate current challenges [12][71] Other Important Information - The CFO announced plans to retire in March 2026, with a transition to the current VP of Financial Operations [46][48] - The company is on track to close the acquisition of Silventum's purification and filtration business by year-end [16][19] Q&A Session Summary Question: What is the long-term growth outlook? - Management expects a long-term organic revenue growth of 7% plus, driven by strong industry fundamentals and share gains [54][59] Question: How will margin expansion be achieved? - Margin expansion of 50 to 70 basis points is expected, leveraging existing tools and PPI capabilities [60][63] Question: How is the biopharma sector responding to macro factors? - The biopharma sector shows broad strength, with strong growth in bioproduction and pharma services despite macro challenges [67][70] Question: What is the outlook for the Analytical Instruments business? - The Analytical Instruments segment is impacted by muted conditions in academic and government sectors, but new product launches are expected to drive share gains [73][81] Question: How is the company managing customer purchasing decisions amid reshoring? - There is heightened interest in expanding US manufacturing capacity, and customers are not pausing purchases in bioproduction [78][80] Question: What is the funding outlook for academic and government sectors? - There is bipartisan support for funding in life sciences, and budgets are expected to stabilize, moving from a headwind to growth [89][94]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 grew 3% to $10.85 billion, with adjusted operating income increasing 1% to $2.38 billion [7][28] - Adjusted operating margin was 21.9%, and adjusted EPS was $5.36 per share, exceeding guidance [7][19] - Year-to-date cash flow from operations was $2.1 billion, with free cash flow at $1.5 billion after net capital expenditures of $645 million [31] Performance by Business Segment - **Life Science Solutions**: Revenue increased 6% year-over-year, with organic growth at 4%. Adjusted operating income rose 6%, and adjusted operating margin was 36.8% [33] - **Analytical Instruments**: Revenue declined 3%, with organic growth down 4%. Adjusted operating income decreased 26%, and adjusted operating margin was 18.8% [34][35] - **Specialty Diagnostics**: Revenue grew 2% year-over-year, with organic revenue flat. Adjusted operating income increased 3%, and adjusted operating margin was 27% [36] - **Laboratory Products and Biopharma Services**: Revenue increased 4%, with organic growth at 3%. Adjusted operating income rose 11%, and adjusted operating margin was 13.8% [37] Market Data and Key Metrics Changes - In the pharma and biotech sector, mid-single-digit growth was achieved, driven by bioproduction and pharma services [8] - Academic and government revenue declined mid-single digits due to customer hesitancy [9] - Diagnostics and Healthcare revenue declined in the low single digits, impacted by challenges in China [10][28] Company Strategy and Industry Competition - The company focuses on three strategic pillars: high-impact innovation, trusted partner status, and a strong commercial engine [11] - Recent product launches include advanced mass spectrometers and a cryo transmission electron microscope, enhancing the company's competitive position [12][13] - The company is actively managing costs and leveraging its PPI business system to navigate tariff impacts and improve operational efficiency [18][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth drivers of the industry, expecting a gradual improvement in end markets [20][23] - The company anticipates organic revenue growth of 3% to 6% in 2026 and 2027, with a long-term outlook of over 7% [21][24] - Management highlighted strong customer relationships and ongoing investments in innovation as key factors for future success [14][23] Other Important Information - The company announced the retirement of CFO Stephen Williamson, with Jim Meyer set to take over in March 2026 [48][50] - The acquisition of Silventum's purification and filtration business is on track to close by year-end [16] Q&A Session Summary Question: Long-term growth outlook and market share - Management provided clarity on the 7% long-term growth outlook, emphasizing strong conviction in industry drivers and share gains [55][60] Question: Margin expansion drivers - Margin expansion is expected to be driven by PPI business system tools and operational efficiencies, despite tariff impacts [62][66] Question: Biopharma investment trends - Management noted broad strength in biopharma, with strong growth in bioproduction and pharma services, indicating a positive outlook [70][72] Question: Analytical Instruments growth outlook - The segment is expected to face challenges due to muted conditions in academic and government sectors, but new product innovations are anticipated to drive share gains [76][86] Question: Reshoring impact - There is increased interest in expanding US manufacturing capacity, with no signs of customers pausing purchases in bioproduction [81][84] Question: Academic and government funding outlook - Bipartisan support for life sciences funding remains strong, with expectations for stabilization in academic and government budgets [98]

Company Performance - Thermo Fisher Scientific reported quarterly earnings of $5.36 per share, exceeding the Zacks Consensus Estimate of $5.22 per share, but slightly down from $5.37 per share a year ago [1] - The earnings surprise for the quarter was +2.68%, and the company has surpassed consensus EPS estimates in all four of the last quarters [2] - The company posted revenues of $10.86 billion for the quarter, surpassing the Zacks Consensus Estimate by 1.94% and up from $10.54 billion year-over-year [3] Stock Performance - Thermo Fisher shares have declined approximately 17.8% since the beginning of the year, contrasting with the S&P 500's gain of 7.3% [4] - The current Zacks Rank for Thermo Fisher is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $5.53 on revenues of $10.87 billion, and for the current fiscal year, it is $22.34 on revenues of $43.7 billion [8] - The outlook for the Medical - Instruments industry, to which Thermo Fisher belongs, is currently in the bottom 33% of over 250 Zacks industries, which may impact the stock's performance [9]

Exhibit 99.1 News Media Contact Information: Sandy Pound Thermo Fisher Scientific Phone: 781-622-1223 Phone: 781-622-1356 Investor Contact Information: Rafael Tejada Thermo Fisher Scientific E-mail: sandy.pound@thermofisher.com E-mail: rafael.tejada@thermofisher.com Thermo Fisher Scientific Reports Second Quarter 2025 Results WALTHAM, Mass. (July 23, 2025) – Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today reported its financial results for the second quarter ended June ...

Group 1 - Solventum Corporation (SOLV) successfully sold its purification and filtration business to Thermo Fisher Scientific Inc. (TMO) for $4.1 billion [1] - The transaction is viewed as a significant achievement for Solventum Corporation, indicating strong corporate performance and strategic capital allocation [1] - The investing group "Value In Corporate Events" focuses on identifying opportunities in major corporate events such as IPOs, mergers & acquisitions, and earnings reports [1]