Thermo Fisher Scientific(US:TMO)2025-10-22 10:05Financial Performance - Third quarter revenue grew 5% to $11.12 billion, compared to $10.60 billion in the same quarter of 2024[6] - GAAP diluted earnings per share (EPS) was $4.27, consistent with the prior-year quarter, while adjusted EPS increased 10% to $5.79[4][8] - Organic revenue growth for the quarter was 3%[6] - GAAP operating income was $1.94 billion with an operating margin of 17.4%, compared to $1.84 billion and 17.3% in the prior year[7] - Adjusted operating income reached $2.59 billion, with an adjusted operating margin of 23.3%, up from 22.3% in the previous year[8] - Consolidated revenues for the three months ended September 27, 2025, reached $11,122 million, a 4.9% increase from $10,598 million in the same period of 2024[16] - Life Sciences Solutions segment revenues increased to $2,588 million, representing 23.3% of total revenues, compared to $2,387 million or 22.5% in the prior year[16] - Adjusted operating income for the nine months ended September 27, 2025, was $7,231 million, reflecting a margin of 22.4%, up from $6,987 million or 22.2% in 2024[23] - Net income attributable to Thermo Fisher Scientific Inc. for the nine months ended September 27, 2025, was $4,740 million, a 5.2% increase from $4,505 million in the same period of 2024[23] - Net income for the nine months ended September 27, 2025, was $4,751 million, compared to $4,514 million for the same period in 2024, reflecting an increase of 5.3%[31] Cash Flow and Assets - Free cash flow for the quarter was $1.84 billion, compared to $1.92 billion in the same quarter of 2024[15] - Free cash flow for the nine months ended September 27, 2025, was $3,319 million, down from $4,498 million in the prior year, indicating a decrease of 26.2%[31] - Total assets increased to $103,020 million as of September 27, 2025, up from $97,321 million on December 31, 2024, representing a growth of approximately 5.8%[30] - Cash and cash equivalents decreased to $1,982 million as of September 27, 2025, from $4,009 million on December 31, 2024, a decline of 50.5%[30] - The company reported a net cash used in investing activities of $4,938 million for the nine months ended September 27, 2025, compared to $5,861 million in the same period of 2024, a decrease of 15.7%[31] Liabilities - Total current liabilities rose to $14,888 million as of September 27, 2025, compared to $13,332 million at the end of 2024, marking an increase of 11.7%[30] - Long-term obligations increased to $31,857 million as of September 27, 2025, from $29,061 million at the end of 2024, representing a rise of 9.6%[30] Strategic Initiatives - The company completed acquisitions of Solventum's Filtration and Separation business and Sanofi's sterile fill-finish site, enhancing bioproduction capabilities and U.S. drug manufacturing capacity[5] - A strategic collaboration with OpenAI was established to enhance the use of artificial intelligence across operations and products[4] - The launch of innovative products included the Oncomine Dx Express Test and the Thermo Scientific Talos 12 transmission electron microscope, aimed at advancing precision medicine and structural biology research[4] Research and Development - Research and development expenses for the nine months ended September 27, 2025, were $1,041 million, consistent with 3.2% of total revenues[23] Financial Guidance and Measures - The company plans to provide updated financial guidance for 2025 during the earnings conference call[9] - The company emphasizes the importance of non-GAAP financial measures, such as organic revenue growth, to assess operational performance and financial trends[32] - The company does not provide GAAP financial measures on a forward-looking basis due to uncertainties in predicting future restructuring actions and transaction-related charges[35] - The company’s adjusted operating income and adjusted EPS metrics were not disclosed in the provided content, but these measures are used to evaluate core operating performance[33]