TMO
Thermo Fisher Scientific Inc.570.16
-5.75-1%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Cautious optimism on biopharma rebound
Q&A revealed cautiously optimistic pharma/biotech signals, with Casper citing upbeat January meetings, CEO anecdotes on trusted partner wins, and biotech funding uptick despite six-month spending lag—framing the 3-4% organic guide as conservative sans 2025's pandemic runoff. Sterile fill-finish demand stays hot, fueling pharma services growth via reshoring contracts. AI complements wet labs, spurring more experimentation. Academic/government outlook mirrors last year's caution until NIH budget clears. Answers reaffirmed scripted story. Pharma sentiment lifted distinctly. Management tone: confident, prudent; watch funding flow-through.
Key Stats
Market Cap
214.21BP/E (TTM)
32.90Basic EPS (TTM)
17.33Dividend Yield
0%Recent Filings
10-K
FY2025 results
Thermo Fisher delivered FY2025 revenues of $44.6B, up 4% y/y with 2% organic growth, driven by Laboratory Products and Biopharma Services (+3%) and Life Sciences Solutions (+3%), while Analytical Instruments held flat. Q4 momentum shone through stronger pharma/biotech demand and bioproduction gains, lifting adjusted operating margins to 22.7% via productivity despite acquisitions and investments. Free cash flow hit $6.3B; debt climbed to $39.4B yet revolver remains untapped. $5B buyback authorized, $3B executed. Cyber risks loom large.
8-K
Issues $3.8B notes for Clario
Thermo Fisher issued $3.8B in senior notes—$1B at 4.215% due 2031, $750M at 4.550% due 2033, $1.3B at 4.902% due 2036, $750M at 5.546% due 2046—on February 12, 2026. Net proceeds of ~$3.76B fund the pending Clario acquisition, subject to regulatory approvals. Change of control triggers repurchase at 101%. Debt piles up.
8-K
Q4 revenue up 7%
Thermo Fisher Scientific reported Q4 revenue up 7% to $12.21 billion and full-year revenue up 4% to $44.56 billion, with GAAP EPS rising 9% to $5.21 quarterly and 7% to $17.74 annually. Acquisitions fueled growth, including Solventum's Filtration business and Sanofi's sterile site, while announcing Clario buyout; $16.5 billion deployed total, yet organic growth lagged at 3% Q4, 2% yearly. Strong execution persists.
8-K
Exec departures, leadership reshuffle
Thermo Fisher Scientific disclosed executive departures: COO Michel Lagarde exits March 31, 2026, and EVP Frederick M. Lowery leaves February 28, 2026, both for other opportunities. Effective March 1, leadership shifts with Marc N. Casper as Chairman and CEO, Gianluca Pettiti promoted to President and COO, and Michael Shafer to expanded EVP role reporting to CEO. Restructuring streamlines operations. No successor details provided.
8-K
€2.1B euro notes issued
Thermo Fisher International issued €1B floating rate senior notes due 2027 and €1.1B 3.628% fixed rate senior notes due 2035 on December 1, 2025, fully guaranteed by the parent company. Net proceeds of ~€2.09B target general corporate purposes like acquisitions or debt refinancing. Covenants limit liens on key assets. Change of control triggers repurchase offers.
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