Thermo Fisher Scientific Inc. (TMO) delivered a solid quarter that beat Wall Street's expectations on both the top and bottom lines. The life sciences giant reported fourth-quarter adjusted earnings of $6.57 per share on Thursday, topping the consensus estimate of $6.45.

Revenue came in at $12.22 billion for the quarter, up 7% from the prior year and comfortably ahead of analyst expectations of $11.95 billion. Organic revenue growth clocked in at 3%.

The company's business segments showed varying momentum. Life Sciences Solutions was the standout performer with sales jumping 13.1% to $2.95 billion. Laboratory Products and Biopharma Services grew 7.5% to $6.38 billion, while Specialty Diagnostics increased 5.4% to $1.22 billion. Analytical Instruments posted more modest growth of 1.3%, reaching $2.22 billion.

"Throughout the year, we effectively navigated the external environment and leveraged our PPI Business System to enable excellent operational performance. It was also a very active year for capital deployment, as we advanced our strategy and added exciting new capabilities that further strengthen our long-term competitive position," said Marc Casper, chairman, president, and CEO of Thermo Fisher Scientific.

Looking Ahead to 2026

During the earnings call, executives expressed confidence about the year ahead. Management said the company is entering 2026 from a position of strength, poised for continued market share gains as its growth strategy continues resonating with customers.

Thermo Fisher projects revenue growth between 4% and 6% for 2026, translating to total revenue of $46.3 billion to $47.2 billion. The company expects organic growth to contribute 3% to 4% of that expansion.

On the earnings front, the company is guiding for adjusted earnings of $24.22 to $24.80 per share, representing 6% to 8% growth compared to the consensus estimate of $24.61. Notably, this guidance excludes the impact of the pending Clario acquisition, which the company announced last year for $8.875 billion.

Here's where it gets interesting: management disclosed that the Clario deal could add between 20 cents and 25 cents to earnings per share in 2026 once it closes. That's a meaningful contribution from a single transaction.

Despite the positive results and forward guidance, investors weren't entirely impressed. Thermo Fisher shares fell 3.20% to $588.57 on Thursday following the announcement.