Filing Flows › Thermo Fisher Scientific (TMO) › Q2 2026 › vs Q1 2026
Thermo Fisher Scientific (TMO) Q2 2026 vs Q1 2026 (quarter over quarter)
Thermo Fisher Scientific's revenue rose $989M (+9%) from $11.0B in Q1 2026 to $12.0B in Q2 2026. The biggest changes: Laboratory Products and Biopharma Services +$657M (+11%); Life Sciences Solutions +$136M (+6%); Analytical Instruments +$132M (+8%). Operating margin 17.4% against 16.9% (+0.5 pts).
Thermo Fisher Scientific, Q2 2026: revenue $12.0B (+10% year over year), operating margin 17.4%, net earnings $1.7B, operating cash flow $2.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 17.4% | 16.9% | +0.5 pts |
| Net margin | 14.5% | 15.0% | -0.5 pts |
| Free cash flow margin | 14.0% | 7.4% | +6.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Laboratory Products and Biopharma Services | $6.7B | $6.0B | $657M | +11% |
| Life Sciences Solutions | $2.4B | $2.2B | $136M | +6% |
| Analytical Instruments | $1.8B | $1.7B | $132M | +8% |
| Specialty Diagnostics | $1.2B | $1.1B | $64.0M | +6% |
| Revenue | $12.0B | $11.0B | $989M | +9% |
| Operating profit | $2.1B | $1.9B | $224M | +12% |
| Costs & expenses | $9.9B | $9.1B | $765M | +8% |
| Pre-tax earnings | $1.9B | $1.7B | $182M | +11% |
| Other expense, net | $179M | $137M | $42.0M | +31% |
| Research & development | $364M | $336M | $28.0M | +8% |
| SG&A | $2.3B | $2.2B | $152M | +7% |
| Other operating costs | $7.2B | $6.6B | $585M | +9% |
| Net earnings | $1.7B | $1.7B | $85.0M | +5% |
| Income tax | $167M | $70.0M | $97.0M | +139% |
| Depreciation & amortization | $816M | $736M | $80.0M | +11% |
| Share-based compensation | $82.0M | $83.0M | −$1.0M | -1% |
| Working capital & other | $514M | $1.3B | −$769M | -60% |
| Operating cash flow | $2.1B | $1.2B | $933M | +78% |
| Free cash flow (OCF − capex) | $1.7B | $816M | $859M | +105% |
| Capital expenditures | $450M | $376M | $74.0M | +20% |
Questions
How much did Thermo Fisher Scientific's revenue grow quarter over quarter in Q2 2026?
Thermo Fisher Scientific's revenue rose $989M (+9%) from $11.0B in Q1 2026 to $12.0B in Q2 2026.
What drove Thermo Fisher Scientific's revenue change in Q2 2026?
Laboratory Products and Biopharma Services +$657M (+11%); Life Sciences Solutions +$136M (+6%); Analytical Instruments +$132M (+8%).