THERMO FISHER SCIENTIFIC INC
For the period ended Jun 29, 2024. Filed Aug 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 29, 2024 · Filed Aug 2, 2024
TMO$718.20-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income
| Three months ended | Six months ended | |||
|---|---|---|---|---|
| June 29, | July 1, | June 29, | July 1, | |
| (In millions except per share amounts) | 2024 | 2023 | 2024 | 2023 |
| Revenues | ||||
| Product revenues | $6,163 | $6,271 | $12,118 | $12,675 |
| Service revenues | 4,378 | 4,416 | 8,768 | 8,722 |
| Total revenues | 10,541 | 10,687 | 20,886 | 21,397 |
| Costs and operating expenses: | ||||
| Cost of product revenues | 3,080 | 3,278 | 6,019 | 6,615 |
| Cost of service revenues | 3,114 | 3,158 | 6,315 | 6,391 |
| Selling, general and administrative expenses | 2,111 | 2,145 | 4,293 | 4,264 |
| Research and development expenses | 339 | 345 | 670 | 691 |
| Restructuring and other costs | 77 | 183 | 106 | 295 |
| Total costs and operating expenses | 8,722 | 9,109 | 17,404 | 18,256 |
| Operating income | 1,820 | 1,578 | 3,483 | 3,141 |
| Interest income | 295 | 178 | 574 | 324 |
| Interest expense | (354) | (326) | (717) | (626) |
| Other income/(expense) | 5 | — | 14 | (46) |
| Income before income taxes | 1,765 | 1,430 | 3,354 | 2,793 |
| Provision for income taxes | (128) | (52) | (408) | (98) |
| Equity in earnings/(losses) of unconsolidated entities | (84) | (16) | (61) | (41) |
| Net income | 1,553 | 1,362 | 2,885 | 2,654 |
| Less: net income/(losses) attributable to noncontrolling interests and redeemable noncontrolling interest | 6 | 1 | 9 | 4 |
| Net income attributable to Thermo Fisher Scientific Inc. | $1,548 | $1,361 | $2,875 | $2,650 |
| Earnings per share attributable to Thermo Fisher Scientific Inc. | ||||
| Basic | $4.05 | $3.53 | $7.53 | $6.86 |
| Diluted | $4.04 | $3.51 | $7.50 | $6.83 |
| Weighted average shares | ||||
| Basic | 382 | 386 | 382 | 386 |
| Diluted | 383 | 388 | 383 | 388 |
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