携手OpenAI，营收增长5%：赛默飞2025年三季度财报

Core Insights - Thermo Fisher Scientific reported Q3 2025 revenue of $11.12 billion, a 5% year-over-year increase, driven by growth in the pharmaceutical and biotechnology sectors, and raised its full-year guidance [2][3] - The company is focused on long-term performance through continuous investments in acquisitions, AI, digitalization, and localized manufacturing [2] Financial Performance - The company achieved an adjusted operating profit of $2.59 billion, a 9% increase, with an adjusted operating margin of 23.3%, expanding by 100 basis points year-over-year [3] - Adjusted EPS grew by 10% to $5.79, significantly exceeding analyst expectations [3] Market Segments - The pharmaceutical and biotechnology market remains a growth engine, achieving mid-single-digit growth, primarily driven by bioproduction and analytical instruments [5] - The industrial and applied market also performed well, with mid-single-digit growth led by electron microscopy [6] - Diagnostics and healthcare market revenue saw low single-digit declines, mainly due to conditions in the Chinese market, although transplant diagnostics and immunodiagnostics showed strong growth [6] Regional Performance - North America experienced low single-digit growth, while Europe and Asia-Pacific achieved mid-single-digit growth; however, the Chinese market saw a mid-single-digit decline [7] Innovation and Partnerships - The company launched several impactful innovative products, including the Oncomine™ Dx Express Test and the Olink® Target 48 neurodegenerative panel, enhancing capabilities in precision medicine and neurodegenerative disease research [9] - A strategic partnership with OpenAI was established to enhance AI applications in operations, products, and services, aiming to accelerate scientific breakthroughs and improve drug development efficiency [10] Full-Year Guidance and Future Outlook - Based on strong Q3 performance, the company raised its full-year revenue guidance to a range of $44.1 billion to $44.5 billion and adjusted EPS guidance to $22.60 to $22.86 [12] - The midpoint of the organic growth guidance remains at 2%, reflecting a 1% headwind from pandemic-related revenue declines, indicating stronger potential core business growth [12] - The CEO expressed confidence in a reasonable assumption of 3% to 6% organic growth for the coming years [12] Focus on China Market - The Chinese market saw a mid-single-digit revenue decline in Q3, with expectations for a "mid to high single-digit" decline for the full year [13] - Challenges in the diagnostics business were highlighted, particularly due to pricing and reimbursement environments, while the pharmaceutical and biotechnology sectors showed moderate growth [13]