Filing Flows › Thermo Fisher Scientific (TMO) › Q1 2026
Thermo Fisher Scientific (TMO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Thermo Fisher Scientific (TMO) reported revenue of $11.0B for the first quarter 2026 (Q1 2026), +6% from a year earlier and -10% from the quarter before. Operating margin was 16.9%, net earnings $1.7B (15.0% of revenue).
Thermo Fisher Scientific, Q1 2026: revenue $11.0B (+6% year over year), operating margin 16.9%, net earnings $1.7B, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.0B | -10% | +6% |
| Operating profit | $1.9B | -17% | +9% |
| Net earnings | $1.7B | -16% | +10% |
| Operating cash flow | $1.2B | -66% | +65% |
| Free cash flow | $816M | -73% | +126% |
What changed
Revenue was $11.0B in Q1 2026, up 6% year over year and down 10% from the previous quarter. Laboratory Products and Biopharma Services was the largest line at 54% of revenue. Laboratory Products and Biopharma Services added $0.39B year over year (up 7%), 61% of the total change. Analytical Instruments declined 1%.
Operating profit was $1.9B, a 16.9% margin (up 0.4 points year over year). Of the extra revenue versus Q1 2025, 23% reached operating profit, above the 17% margin then. Total costs grew 6% against revenue growth of 6%. Net earnings were $1.7B, up 10% year over year. The effective tax rate was 4.1%.
Operating cash flow was $1.2B (up 65% year over year), 72% of net earnings. Non-cash charges added back $0.74B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $1.3B. Capital expenditures of $0.38B left free cash flow of $0.82B.
Questions
What was Thermo Fisher Scientific's revenue in the first quarter 2026?
Thermo Fisher Scientific (TMO) reported revenue of $11.0B for the first quarter 2026 (Q1 2026), +6% from a year earlier and -10% from the quarter before.
Was Thermo Fisher Scientific profitable in the first quarter 2026?
Operating profit was $1.9B (16.9% of revenue) and net earnings $1.7B.