Thermo Fisher Scientific TMO is set to release second-quarter 2026 results on July 23, before the market opens.
In the last reported quarter, the company posted adjusted earnings per share (EPS) of $5.44, which surpassed the Zacks Consensus Estimate by 4.62%. The company’s earnings topped estimates in each of the trailing four quarters, the average surprise being 3.69%.
Q2 Estimates for TMO
The Zacks Consensus Estimate for revenues is pegged at $11.68 billion, indicating an increase of 7.6% from the year-ago reported figure.
The consensus mark for the company’s EPS implies a 6.5% year-over-year rise to $5.71. The estimate has dropped 1 cent in the past 30 days.
Factors Likely to Influence TMO’s Q2 Results
Life Sciences Solutions
The segment’s performance is expected to have benefited from continued strength in the Bioproduction business, driven by healthy demand from the pharma and biotech customers. Thermo Fisher further enhanced its Bioproduction offerings through the acquisition of Solventum’s Filtration and Separation business, adding advanced filtration technologies and industrial filtration and membrane solutions. Integration of this business is likely to have continued during the quarter.
A steady cadence of product launches is also expected to have supported the Life Sciences Solutions segment. Among its newer innovations, Thermo Fisher introduced the Gibco CTS Compleo Fill and Finish System to help address manual fill and finish challenges in cell therapy manufacturing. The company also launched an integrated platform to advance scalable cell therapy manufacturing and introduced the Gibco CHOvantage GS Cell Line Development (“CLD”) Kit to help biologics developers accelerate time to clinic while maintaining regulatory confidence and commercial scalability.
Thermo Fisher’s new Applied Biosystems PowerFlex Thermal Cycler is designed to help deliver enhanced flexibility, precise thermal performance and improved productivity for modern molecular biology laboratories. We expect all these developments to have positively boosted revenues in the second quarter of 2026.
Per the Zacks Consensus Estimate, the Life Sciences Solutions revenues are expected to increase 9.6% year over year.
Analytical Instruments
The segment is likely to have continued to witness soft demand for instruments from academic and government customers in the United States and China. Tariffs and lower volumes may have also weighed on profitability. Despite this, Thermo Fisher’s strength in innovations may have remained a bright spot. The company introduced the Glacios 3 Cryo-TEM, a next-generation cryo-transmission electron microscope that features AI-enabled workflows.
Thermo Fisher Scientific Inc. Price and EPS Surprise
Thermo Fisher Scientific Inc. price-eps-surprise | Thermo Fisher Scientific Inc. Quote
At ASMS 2026, Thermo Fisher unveiled the Orbitrap Tribrid Apex and Orbitrap Excedion mass spectrometry platforms, designed to help researchers and drug developers generate high-quality data more efficiently across complex applications, including proteomics, multiomics, biologics and genetic medicines.
Thermo Fisher's collaboration with NVIDIA is expected to have made further progress toward commercializing AI-enabled scientific workflow solutions. We expect these developments to have favorably boosted the company’s top line in the second quarter of 2026.
Per the Zacks Consensus Estimates, revenues in this segment are projected to increase 4.7% year over year.
Specialty Diagnostics
Similar to the previous quarter, the segment’s growth may have been driven by the transplant diagnostics business. The healthcare market channel is likely to have contributed to the second-quarter revenues.
Recent product innovations are also expected to have supported the segment's performance. These include the Thermo Scientific Brilliance Candida 2 Agar and Spectra Candida Agar, new color-based (chromogenic) culture media to help quickly detect and differentiate clinically important Candida species, and a new laboratory-developed test to help transplant patients receive the right dose of critical anti-rejection medication faster.
Thermo Fisher marked a notable development in April 2026, entering into an agreement to sell its microbiology business to Astorg for approximately $1.075 billion. The closing of the transaction is expected in the second half of this year, subject to customary closing conditions and applicable regulatory approvals.
The Zacks Consensus Estimate anticipates Specialty Diagnostics revenues to grow 2.8% year over year.
Laboratory Products and Biopharma Services
In the second quarter of 2026, the segment is likely to have delivered solid performance due to its clinical research business and the research and safety market channel. During the quarter, Thermo Fisher’s PPD clinical research business expanded its global bioanalytical capabilities by opening a new bioanalytical and biomarker laboratory in Gothenburg, Sweden.
Thermo Fisher completed the acquisition of Clario in late March, adding digital endpoint data solutions that are highly complementary to its clinical research capabilities. Integration of this acquired business may have continued to progress in the second quarter.
Thermo Fisher also announced a strategic collaboration with SHL Medical, a leading provider of advanced drug delivery systems, alongside an expansion of sterile fill-finish and autoinjector final assembly capacity at its Ridgefield, NJ site. The facility was acquired from Sanofi in September 2025 as part of the company’s strategy to strengthen its U.S. manufacturing footprint.
Collectively, these developments are expected to have supported the segment's second-quarter revenues.
The Zacks Consensus Estimate expects revenues in this segment to increase 7.7% year over year.
What Our Model Unveils for TMO
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates, which is not the case here, as you can see below.
Earnings ESP: Thermo Fisher has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks Rank #1 stocks here.
MedTech Picks
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this time:
Cardinal Health CAH has an Earnings ESP of +1.24% and a Zacks Rank #2. The company is slated to release fourth-quarter fiscal 2026 results on Aug. 11.
CAH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 10.27%. The Zacks Consensus Estimate expects the company’s fourth-quarter EPS to increase 9.1% from the year-ago quarter’s figure.
Henry Schein HSIC has an Earnings ESP of +0.41% and a Zacks Rank #2. The company is expected to release second-quarter 2026 results soon.
HSIC’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.74%. The Zacks Consensus Estimate for the company’s second-quarter EPS calls for a rise of 10.9% from the year-ago quarter’s figure.
Alcon ALC has an Earnings ESP of +3.13% and a Zacks Rank #2. The company is slated to release second-quarter 2026 results on Aug. 10.
ALC’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.66%. The Zacks Consensus Estimate anticipates the company’s second-quarter EPS to increase 1.3% from the year-ago quarter’s figure.
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Thermo Fisher Scientific Inc. (TMO): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).