The earnings call reflects a strong finish to 2024 with significant revenue and earnings growth, positive customer feedback, and successful innovation and capital deployment. However, there are some challenges with declines in pharma and biotech, and diagnostics and healthcare segments for the full year, as well as potential policy uncertainties.

Company Guidance

During the fourth quarter earnings call for 2024, Thermo Fisher Scientific provided guidance for 2025, forecasting revenue between $43.5 billion and $44 billion, reflecting a 3% to 4% organic growth. Adjusted earnings per share (EPS) are anticipated to grow by 6% to 8%, reaching between $23.10 and $23.50, supported by a projected adjusted operating margin expansion of 90 basis points. The company reported strong performance across its segments, with notable growth in Analytical Instruments and Specialty Diagnostics, and an overall 5% year-over-year revenue increase to $11.4 billion in Q4. Despite challenges like the pandemic runoff impacting growth, the company highlighted strategic initiatives such as high-impact innovation and the launch of new products. Thermo Fisher also emphasized its disciplined capital deployment strategy, returning $4.6 billion to shareholders in 2024 through buybacks and dividends. Looking ahead, the company remains optimistic about market conditions improving throughout 2025, aiming to leverage its proven growth strategy and commercial execution to drive continued success.

Q4 Revenue and Earnings Growth

Q4 revenue grew 5% year-over-year to $11.4 billion. Adjusted operating income grew 7% to $2.72 billion, and adjusted EPS increased 8% to $6.10 per share.

Strong Performance Across Segments

All end markets showed positive revenue growth in Q4, with pharma and biotech growing mid-single digits, academic and government high-single digits, industrial and applied high-single digits, and diagnostics and healthcare low single-digits.

Successful Capital Deployment

Returned $4.6 billion to shareholders through stock buybacks and dividends in 2024, including $1 billion of shares repurchased in Q4.

High-Impact Innovation

Launched several new products, including the Thermo Scientific Stellar mass spectrometer and Thermo Scientific Dionex Inuvion ion chromatography system.

Positive Customer Feedback and Partnerships

Strong positive feedback from customers on the Accelerator Drug Development solution and new partnerships, including with the National Cancer Institute and the University of Arkansas for Medical Sciences.

---

Thermo Fisher (TMO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TMO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 23, 2025	2025 (Q1)	5.12 / -	5.11	―	―	―
Jan 30, 2025	2024 (Q4)	5.94 / 6.10	5.67	7.58% (+0.43)	―
Oct 23, 2024	2024 (Q3)	5.24 / 5.28	5.69	-7.21% (-0.41)	―
Jul 24, 2024	2024 (Q2)	5.12 / 5.37	5.15	4.27% (+0.22)	―
Apr 24, 2024	2024 (Q1)	4.71 / 5.11	5.03	1.59% (+0.08)
Jan 31, 2024	2023 (Q4)	5.64 / 5.67	5.4	5.00% (+0.27)	―
Oct 25, 2023	2023 (Q3)	5.61 / 5.69	5.08	12.01% (+0.61)	―
Jul 26, 2023	2023 (Q2)	5.42 / 5.15	5.51	-6.53% (-0.36)	―
Apr 26, 2023	2023 (Q1)	5.03 / 5.03	7.25	-30.62% (-2.22)	―
Feb 01, 2023	2022 (Q4)	5.20 / 5.40	6.54	-17.43% (-1.14)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

TMO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 30, 2025	$568.23	$606.74	+6.78%
Oct 23, 2024	$585.94	$576.06	-1.69%
Jul 24, 2024	$551.48	$573.94	+4.07%
Apr 24, 2024	$573.41	$576.20	+0.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---