Thermo Fisher Q3 FY2026: revenue up 9.1%, adjusted EPS beats at $6.68
Thermo Fisher beat on adjusted earnings and widened margins in the September 2026 quarter: revenue rose 9.1% to $12.14 billion and adjusted EPS of $6.68 came in above the $6.4673 consensus. Read the growth in two parts — 6% organic, 3% net from deals — and treat the GAAP-to-adjusted gap as a real cost, not noise.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $4.64, up 8.7% from $4.27, while adjusted EPS of $6.68 beat the $6.4673 consensus by roughly $0.21 a share. The gap between the two lines is mostly $1.40 a share of acquisition-related amortization plus $0.54 of restructuring and other costs — real expenses even if they recur every quarter. GAAP operating margin improved to 18.6% from 17.4%, and the adjusted margin to 24.5% from 23.3%.
Revenue of $12.14 billion was up 9.1% from $11.12 billion a year earlier, but only 6% of that was organic. Acquisitions and divestitures added 3 points and currency was flat, so the top line is growing partly by purchase rather than by itself. Gross margin was 42.8%, up from 41.8% on the same math a year ago.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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