Thermo Fisher grows quarterly revenue 9% and raises its annual organic growth outlook

Thermo Fisher Scientific supplies instruments, products and services to laboratories and drugmakers. It reported revenue of $12.14 billion for the third quarter ended September 26, 2026, up 9% from a year earlier.^[1] Organic revenue growth was 6%; that measure removes acquisitions, disposals and currency movements to give a clearer view of sales in the existing business.^[2]

The company also raised its full-year 2026 organic revenue growth outlook to 4%; that remains management's forecast, not an achieved result.^[3]

Organic growth shows that acquisitions and exchange rates were not the only sources of higher sales, strengthening the evidence of recovering laboratory spending. More sales can also help suppliers spread the fixed costs of laboratories, factories and service networks over more business. Thermo Fisher's adjusted operating income—operating profit excluding certain items under the company's definition—rose 15% to $2.97 billion, faster than revenue, showing that sales growth is translating into faster profit growth.^[2][4]

That does not establish a broad recovery for every supplier. An analysis of the results reported 10% organic growth in Laboratory Products and Biopharma Services, while life sciences and diagnostics grew more slowly; competitors' exposure therefore depends on the products and services they sell.^[5]

Impact