Q3 2025 Earnings Estimate for Thermo Fisher Scientific Inc. Issued By Leerink Partnrs (NYSE:TMO)

Strong Demand and Market Share Gains to Drive Growth

Leerink Partners has issued its Q3 2025 earnings estimate for Thermo Fisher Scientific Inc. (NYSE:TMO), projecting strong growth driven by robust demand and market share gains.

The firm anticipates that TMO will report revenue of $10.2 billion, representing a 6.5% increase year-over-year. This growth is attributed to continued strength in the life sciences and analytical instruments markets, where TMO holds leading positions.

Leerink Partners notes that TMO has been successfully executing its strategy of acquiring and integrating complementary businesses, which has expanded its product portfolio and geographic reach.

The firm also highlights TMO's robust order backlog, indicating sustained customer demand and supporting its growth outlook.

Margin Expansion and Cost Control Expected

In addition to revenue growth, Leerink Partners expects TMO to deliver margin expansion in Q3 2025.

The firm believes that TMO's focus on operational efficiency, including cost optimization and productivity improvements, will drive margin improvement.

Leerink Partners anticipates that TMO's adjusted earnings per share (EPS) will reach $5.20 in Q3 2025, reflecting a 7.2% year-over-year increase.

Outlook Remains Positive for TMO

Leerink Partners maintains a positive outlook for TMO beyond Q3 2025, citing its strong market position, diversified business, and continued investment in growth initiatives.

The firm believes that TMO is well-positioned to capitalize on the long-term growth trends in the healthcare and life sciences industries.

Leerink Partners reiterates its "Outperform" rating on TMO with a price target of $650, implying an upside potential of approximately 15% from current levels.