Thermo Fisher Scientific Inc. (TMO) earnings on July 23, 2026

Before the market opens Q2 2026

More Thermo Fisher Scientific Inc. earnings

Prior outlook: Optimistic Outcome: Accurate

Thermo Fisher shares soared after earnings, as signs of improving market activity boosted investor confidence.

TMO price around the earnings

572.32

Change: +8.7%

2026-07-23, 20:00 UTC

Start of the measured window End of the measured window
526.46 544.99 563.52 582.05 526.46
Price series around the eventClosing price per minute from before the event to the end of the measured window.
July 23, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: Optimistic Outcome: Accurate

Thesis published
Results released

Strong recent trend strength and strong recent beat history, but mixed analyst actions and high IV suggest elevated expectations.

Context analyzed before publication

Trend
Consistent strong run-up into earnings, with elevated IV suggesting high expectations and sell-the-news risk.

Analysts

Evidence

Analyst consensus
Buy
Consensus average (1-5)
1.61
Analysts covering the stock
26
Average price target
591.27
Lowest price target
490
Highest price target
750
Upside to price target
12.3%
Quarterly earnings growth
9.6%
Revenue growth
6.2%
Forward EPS
27.26
Trailing EPS
18.27
Analyst moves in the last 60 days
3
  • Strong buy: 3
  • Buy: 18
  • Hold: 7
  • Sell: 0
  • Strong sell: 0
Strong buy
3
Buy
18
Hold
7
Sell
0
Strong sell
0
  • July 6, 2026 · Evercore ISI Group: Maintains rating (Outperform → Outperform)
  • June 11, 2026 · Piper Sandler: Initiates coverage (Neutral)
  • June 3, 2026 · HSBC: Downgrades rating (Buy → Hold)

News and sentiment

Evidence

Sentiment
Sentiment
Neutral
Mentions
0
News
Sources (6)

Technicals

Evidence

Average true range (ATR)
2.6%
Distance to 52-week high
-17.5%
14-day change (14d)
+3.3%
30-day change (30d)
+13.5%
30-day relative strength
+13.1%
SPY change (30d)
+0.4%
Nearest support
520.85
Nearest resistance
528.27
Volume accumulation ratio (14d / 46d)
0.78

Trends

Evidence

Average earnings surprise
+3.4%
  • April 23, 2026: actual EPS 5.44 vs estimate 5.24 (surprise +3.8%)
  • January 29, 2026: actual EPS 6.57 vs estimate 6.45 (surprise +1.9%)
  • October 22, 2025: actual EPS 5.79 vs estimate 5.5 (surprise +5.3%)
  • July 23, 2025: actual EPS 5.36 vs estimate 5.23 (surprise +2.5%)

Expected move

Implied move
+7.3%
Source
Options chain

Reactions over its last 20 earnings

Median move
2.6%
75th percentile move
5.2%
90th percentile move
7.3%
Up / down moves
11 / 9
Average up move
+3.4%
Average down move
-3.4%

Monitoring and close

What Thermo Fisher Scientific Inc. reported

Status
Finished
Actual EPS6.03
EPS estimate5.71
EPS surprise+5.6%
Revenue$11,994 million
Revenue estimate$11,701 million
Revenue surprise+2.5%

Thermo Fisher beats Q2 2026 estimates, raises full-year guidance. Shares jump ~10% on optimistic demand outlook and margin expansion.

Sources (20)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, the figures confirm the optimistic scenario. In the 1037 past cases with a similar move, the close held that direction 96% of the time.

How the stock reacted

Outcome
Accurate
Consolidated
+8.7%
Max favorable move (MFE)
11.6%
Max adverse move (MAE)
0%