Thermo Fisher Scientific Reports Strong Third Quarter 2025 Results, Advances Innovation and Strategic Growth
WALTHAM, Mass., October 22, 2025 — Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced its financial results for the third quarter ended September 27, 2025. The company delivered strong revenue and earnings growth, reflecting robust execution across its global operations, continued innovation, and disciplined strategic investment.
Third Quarter Financial Highlights
- Revenue increased 5% year-over-year to $11.12 billion.
- GAAP diluted earnings per share (EPS) were $4.27, consistent with the prior-year quarter.
- Adjusted EPS grew 10% to $5.79, reflecting continued margin expansion and strong cost management.
- GAAP operating income rose to $1.94 billion, up from $1.84 billion a year ago.
- Adjusted operating income increased to $2.59 billion, versus $2.36 billion in the third quarter of 2024.
- GAAP operating margin expanded slightly to 17.4%, while adjusted operating margin improved to 23.3% from 22.3%.
- Organic revenue growth was 3%, driven by healthy performance across core business segments.
Thermo Fisher’s third quarter results underscore the strength of its diversified business model, operational excellence through the PPI (Practical Process Improvement) Business System, and consistent execution of its long-term growth strategy.
Driving Innovation in Life Sciences and Precision Medicine
During the quarter, Thermo Fisher advanced its leadership in precision medicine and life science research through the launch of several high-impact innovations.
To support the advancement of personalized oncology care, the company received U.S. Food and Drug Administration (FDA) approval for the Oncomine™ Dx Express Test on the Ion Torrent™ Genexus Dx Integrated Sequencer. This breakthrough diagnostic tool serves as a companion diagnostic for Dizal’s ZEGFROVY®, a treatment for non-small cell lung cancer (NSCLC), and also enables comprehensive tumor profiling. The integrated solution helps clinicians make faster, more informed therapy decisions, furthering the promise of precision medicine.
In addition, Thermo Fisher introduced the Olink® Target 48 Neurodegeneration panel, designed to help researchers uncover new insights into neurodegenerative diseases such as Alzheimer’s and Parkinson’s. This targeted protein biomarker panel leverages advanced proteomics technology to enable a deeper understanding of disease mechanisms and accelerate discovery in neuroscience.
For structural biology and drug development researchers, the company launched the Thermo Scientific™ Talos™ 12 Transmission Electron Microscope (TEM). This next-generation instrument delivers enhanced imaging resolution, improved ease of use, and increased automation. By enabling clearer visualization of complex biological structures, the Talos 12 supports advancements in pathology, molecular biology, and pharmaceutical innovation.
“Our team continues to push the boundaries of scientific discovery,” said Marc N. Casper, Chairman, President, and Chief Executive Officer of Thermo Fisher Scientific. “From FDA-approved diagnostic solutions to next-generation imaging technologies, we’re bringing innovation to every area of the life sciences to accelerate our customers’ success and improve patient outcomes.”
Strategic Collaborations and AI Integration
Building on its commitment to innovation and operational excellence, Thermo Fisher strengthened its commercial and technological capabilities through new strategic initiatives. Notably, the company established a strategic collaboration with OpenAI to expand the use of artificial intelligence (AI) across its operations, products, and services. This partnership aims to enhance productivity, accelerate scientific breakthroughs, and improve the efficiency of drug discovery and development processes.
The integration of AI into Thermo Fisher’s workflows is expected to drive greater automation, optimize data analysis, and unlock deeper scientific insights—further enhancing the company’s position as a leader in data-driven life science research.
“Our collaboration with OpenAI represents an exciting step forward in leveraging advanced AI technologies to power the future of science,” said Casper. “By integrating AI across our platforms, we are creating new opportunities for faster innovation and greater impact across the global research and healthcare ecosystem.
Disciplined Capital Deployment and Strategic Acquisitions
Thermo Fisher continued to execute its disciplined capital deployment strategy, advancing its growth priorities through targeted acquisitions and share repurchases.
During the quarter, the company completed the acquisition of Solventum’s Filtration and Separation business, a strategic addition that complements Thermo Fisher’s existing bioproduction capabilities. The acquisition enhances the company’s offering in filtration technologies, enabling it to better serve biopharmaceutical customers with end-to-end production solutions.
In another strategic move, Thermo Fisher acquired Sanofi’s Ridgefield, New Jersey sterile fill-finish facility, expanding its U.S. capacity for drug product manufacturing. This acquisition strengthens Thermo Fisher’s ability to meet growing demand for biologics and sterile injectable therapies, reinforcing its role as a key partner to global pharmaceutical manufacturers.
In addition, the company repurchased $1.0 billion of its own stock during the quarter, demonstrating continued confidence in its long-term growth outlook and commitment to delivering value to shareholders.
Operational Excellence and the PPI Business System
The company’s operational success in the third quarter reflects the power of its PPI Business System, a continuous improvement framework that drives productivity, cost efficiency, and quality. The PPI system enables Thermo Fisher’s global teams to execute with consistency and agility, ensuring the company can adapt to dynamic market conditions while maintaining best-in-class performance.
“Our PPI Business System continues to be a key differentiator,” said Casper. “It allows us to operate with discipline, manage costs effectively, and continuously improve execution across all areas of our business.”
Guidance and Outlook
Thermo Fisher reaffirmed its confidence in achieving its 2025 financial objectives and long-term growth targets. Updated financial guidance for the full year will be discussed during the company’s earnings conference call scheduled for 8:30 a.m. Eastern Time today.
Casper concluded, “I’m proud of our team’s outstanding performance this quarter. We are delivering strong results, executing on our strategy, and continuing to invest in the future. With our leading portfolio, operational excellence, and ongoing innovation, we are well positioned to drive long-term value creation for our customers, employees, and shareholders.
