Strong Revenue Growth Across Key Segments and Geographies
Q2 FY2026 consolidated revenue reached $11.99B, up 10.5% YoY (5% organic growth, 5% acquisition impact, 1% FX). Growth was led by the Laboratory Products and Biopharma Services segment ($6.69B, up 12% YoY) and the Life Sciences Solutions segment ($2.82B, up 13% YoY), driven by strengthening customer demand in pharma and biotech markets.
Margin Expansion Driven by PPI Productivity Gains
GAAP operating income increased 13.8% YoY to $2.09B, with GAAP operating margin expanding 50 bps YoY to 17.40%. Non-GAAP Adjusted Operating Margin reached 22.8% (up 90 bps YoY), primarily driven by Practical Process Improvement (PPI) system productivity gains, partially offset by unfavorable business mix.
Strategic M&A Execution and Portfolio Expansion
On March 24, 2026, Thermo Fisher completed the acquisition of Clario Holdings, Inc. within the Laboratory Products and Biopharma Services segment, adding $441M in reported revenue for the clinical research business in Q2 FY2026. This complements the September 2025 acquisition of the filtration and separation business from Solventum Corporation.