Latest news with #Casper
Yahoo
13 hours ago
- Business
- Yahoo
TMO Q2 Deep Dive: Pharma Strength, Tariff Adaptation, and Strategic Investments Shape Outlook
Life sciences company Thermo Fisher (NYSE:TMO) reported Q2 CY2025 results beating Wall Street's revenue expectations , with sales up 3% year on year to $10.86 billion. Its non-GAAP profit of $5.36 per share was 2.5% above analysts' consensus estimates. Is now the time to buy TMO? Find out in our full research report (it's free). Thermo Fisher (TMO) Q2 CY2025 Highlights: Revenue: $10.86 billion vs analyst estimates of $10.69 billion (3% year-on-year growth, 1.6% beat) Adjusted EPS: $5.36 vs analyst estimates of $5.23 (2.5% beat) Adjusted EBITDA: $2.61 billion vs analyst estimates of $2.59 billion (24.1% margin, 0.9% beat) Operating Margin: 16.9%, in line with the same quarter last year Organic Revenue rose 2% year on year (-1% in the same quarter last year) Market Capitalization: $176.2 billion StockStory's Take Thermo Fisher's second quarter saw a positive market response, as the company surpassed Wall Street's revenue and adjusted profit expectations. Management attributed the quarter's performance to robust growth in pharma and biotech, especially in bioproduction and Pharma Services, alongside strong execution in their research and safety market channel. CEO Marc Casper emphasized that 'customer uptake is very strong' for the company's Accelerator Drug Development solution, and highlighted sequential improvement in clinical research. However, Casper also noted mid-single-digit declines in academic and government markets, and low single-digit declines in diagnostics and health care, reflecting ongoing hesitancy and demand headwinds in these segments. Looking forward, Thermo Fisher's updated guidance reflects an expectation of gradual improvement in key end markets and ongoing margin expansion through cost management and innovation. Management highlighted strategic priorities such as expanding U.S. manufacturing capacity, integrating Solventum's Purification & Filtration business, and leveraging AI within their PPI Business System to enhance productivity. CFO Stephen Williamson noted, 'We're actively managing the company to appropriately navigate the macro environment,' while Casper outlined a scenario of accelerating growth in 2026 and 2027, anticipating organic revenue growth rising from current levels as academic and government headwinds abate and clinical research builds momentum. Key Insights from Management's Remarks Management attributed the quarter's outperformance to strong pharma and biotech demand, successful cost actions, and resilience in the face of tariffs, while also discussing product innovation and portfolio expansion. Pharma and Biotech Momentum: The company reported mid-single-digit growth in its pharma and biotech end markets, with bioproduction and Pharma Services driving results. Management cited strong customer interest in Accelerator Drug Development, which integrates Pharma Services and clinical research capabilities to reduce drug development time and cost. Academic and Government Weakness: Revenue from academic and government customers declined mid-single digits, with CEO Marc Casper pointing to muted demand and customer caution amid funding uncertainties. Casper indicated this segment is expected to stabilize over time but remains a headwind for now. Tariff Adaptation: Tariffs and related foreign exchange posed a significant headwind, impacting adjusted operating income and margins. Management minimized the impact through operational adjustments and active management, noting that tariff exposure was less severe than previously assumed, particularly in China. Product Innovation and Launches: Thermo Fisher introduced new mass spectrometry and electron microscopy products, including the Astral Zoom and Excedion Pro spectrometers and the Krios 5 cryo-transmission electron microscope. Customer feedback highlighted the potential of these tools to advance precision medicine and biological research. Portfolio and Capacity Expansion: The company amended its acquisition agreement with Solventum to accelerate regulatory clearance and exclude non-synergistic lines, while also announcing an expanded partnership with Sanofi through the acquisition of a sterile fill-finish facility in New Jersey. Management expects these moves to broaden manufacturing capabilities and support customer reshoring efforts. Drivers of Future Performance Thermo Fisher's outlook centers on cost discipline, new product adoption, and recovery in challenged end markets, with ongoing tariff and policy risks. Cost Management and Margin Expansion: Management expects continued productivity gains and cost reductions, leveraging the PPI Business System and AI integration. CFO Stephen Williamson outlined expectations for 50 to 70 basis points of adjusted operating margin expansion annually, even in a muted revenue environment. Recovery in Key Markets: Leadership anticipates that academic and government demand will transition from a headwind to stabilization, while clinical research and pharma services are expected to see improved growth as authorizations and customer activity increase. China remains a near-term headwind but is projected to flatten out over the next two years. Strategic Capital Deployment: The company plans to supplement organic performance with targeted acquisitions and capacity investments, particularly in U.S. manufacturing. The pending Solventum and Sanofi deals are expected to enhance product offerings and meet growing demand for domestic drug production, supporting long-term revenue and profit growth. Catalysts in Upcoming Quarters In the quarters ahead, our analyst team will closely watch (1) the pace of recovery in academic and government demand and whether stabilization emerges, (2) the successful integration and performance of Solventum's Purification & Filtration business and the Sanofi fill-finish facility, and (3) ongoing traction for new analytical instruments and bioproduction solutions. Execution on cost discipline and navigating tariff dynamics will also be key signposts for monitoring Thermo Fisher's ability to deliver on its outlook. Thermo Fisher currently trades at $467.60, up from $426.83 just before the earnings. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it's free). Stocks That Trumped Tariffs When Trump unveiled his aggressive tariff plan in April 2024, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that's already erased most losses. Don't let fear keep you from great opportunities and take a look at Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Newsweek
2 days ago
- Entertainment
- Newsweek
Map Shows Most 'Cultured' Major Cities in US
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. New Orleans in Louisiana has been ranked as the most "cultured" major city in the United States, followed by San Francisco, California and Nashville, Tennessee, according to a new study. The study by Holafly, eSIM provider, measured cultural venues and landmarks per capita across 100 of the most populated cities in the U.S. Each was assessed based on the number of museums, music venues, landmarks, art galleries and theaters per 100,000 residents, which was used to create a culture score for each city. Culture advocate Sehila Mota Casper is the executive director of Latinos in Heritage Conservation and a former senior field officer at the National Trust for Historic Preservation. She told Newsweek that, while museums and music halls play a role, the essence of culture is found in the everyday lives of residents. "Museums and galleries are part of the picture, but the core of a cultured city is its people. Culture is not built from above. It grows from neighborhoods, kitchens, churches, sidewalks, street corners, and languages spoken at home," Casper said. "Every city on this list reflects that. Diversity is not an accessory to culture. It is the foundation." The study crowned New Orleans as the most "cultured" major city in America, citing its unmatched concentration of cultural landmarks—over 38 per 100,000 people—and iconic sites such as the St. Louis Cathedral, the oldest continuously active Roman Catholic cathedral in the country. Located in the historic French Quarter, the cathedral is part of a broader cultural landscape that includes jazz institutions such as Preservation Hall, the Maple Leaf Bar, and Kermit's Treme Mother-in-Law Lounge. "In addition to the stunning historic architecture, culture-hungry travelers will also have an array of music venues to catch some live music; from jazz to reggae, there really is something for everyone," the study noted. Stock image: People walk in the streets of the French Quarter in New Orleans. Stock image: People walk in the streets of the French Quarter in New Orleans. Getty Coming in second was San Francisco, described in the report as "a hotbed of culture," with more than 41 landmarks per 100,000 people. In addition to well-known tourist destinations like the Golden Gate Bridge, the city is home to cultural fixtures such as the historic Alcatraz Island and panoramic spots like Twin Peaks. "If getting outdoors and exploring the local areas via hiking is your thing, then the Twin Peaks is a must-see," the study said. "Standing over 900 feet above the city, Twin Peaks offers stunning views of the city's skyline, not to mention being the perfect sunset spot." Nashville, dubbed "The Music City," secured third place, owing much to its rich musical heritage. The city is home to legendary venues such as the Grand Ole Opry and the Ryman Auditorium, as well as the Johnny Cash Museum; this reportedly hosts the largest and most comprehensive collection of Johnny Cash artifacts in the world. Rounding out the top five were St. Louis, Missouri, and Honolulu, Hawaii. St. Louis scored high with a 60.54 culture rating, bolstered by its iconic Gateway Arch and thriving blues scene, including institutions like BB's Jazz, Blues & Soups. Honolulu closely followed with a culture score of 60.47, with the study highlighting Pearl Harbor and the city's blend of historical depth and natural beauty. The remaining cities in the top 10 included: Boston, Massachusetts (sixth); Arlington, Virginia (seventh); Miami, Florida (eighth); Washington, D.C. (ninth); and Richmond, Virginia (10th), each recognized for their blend of artistic, historical, and musical significance. "Culturally rich cities are shaped by migration, language, memory, and community tradition," Casper said. "The cities in this ranking reflect concentrated diversity. New Orleans, San Francisco, Miami, and Honolulu all carry histories of layered settlement—African, Indigenous, Latin American, Asian, and Caribbean. Culture has been created, protected, and reimagined in these cities across generations." The executive director further noted the deep, layered histories that shape some of the cities in the ranking. "San Francisco's murals, New Orleans' music traditions, Miami's diasporic neighborhoods, Honolulu's ancestral practice, Washington D.C.'s multiethnic enclaves—these are not recent phenomena," Casper added. "They are cultural ecosystems built through survival, exchange, and continuity." Top 20 Most 'Cultured' Major Cities in the U.S. New Orleans, Louisiana San Francisco, California Nashville, Tennessee St. Louis, Missouri Honolulu, Hawaii Boston, Massachusetts Arlington, Virginia Miami, Florida Washington, D.C. Richmond, Virginia Cincinnati, Ohio Atlanta, Georgia Pittsburgh, Pennsylvania Las Vegas, Nevada Portland, Oregon Minneapolis, Minnesota Cleveland, Ohio Seattle, Washington Oklahoma City, Oklahoma Baltimore, Maryland Source: Based on a ranking of 100 of America's most-populated cities done by Holafly, according to the number of theaters, live music venues, museums, art galleries and landmarks/points of interest per 100,000 people. Do you have a travel-related story to share? Let us know via life@ and your story could be featured on Newsweek.
Business Wire
2 days ago
- Business
- Business Wire
Thermo Fisher Scientific Reports Second Quarter 2025 Results
WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today reported its financial results for the second quarter ended June 28, 2025. Second quarter revenue grew 3% to $10.85 billion. Second quarter GAAP diluted earnings per share (EPS) grew 6% to $4.28. Second quarter adjusted EPS was $5.36. Delivered excellent operational performance in the quarter, reflecting active management of our company in the macroenvironment demonstrating the strength of our proven growth strategy and the power of the PPI Business System. Advanced our proven growth strategy, launching a range of high-impact innovation, strengthening our industry-leading commercial engine and deepening our trusted partner status with customers during the quarter to enable scientific breakthroughs and maximize customer productivity. Highlights include: Launched next-generation instruments including the Thermo Scientific™ Orbitrap™ Astral™ Zoom mass spectrometer, Thermo Scientific™ Orbitrap™ Excedion™ Pro mass spectrometer, and the Thermo Scientific™ Krios™ 5 Cryo-TEM. These instruments help researchers deepen the understanding of complex diseases, advance precision medicine, and enable the development of new therapies. We also expanded the DynaDrive™ single-use bioreactor portfolio for drug production to include a new first-of-its kind bench scale system, enabling meaningful workflow efficiencies and seamless scale-up from the bench to commercialization. The significant benefits of the Accelerator™ Drug Development solution were further validated by the publication of a Tufts Center study, which demonstrated that our integrated CDMO and CRO offerings can significantly shorten development timelines and deliver strong ROI for customers. Leveraged our PPI Business System to enable outstanding execution. PPI is helping us adjust our supply chains in the tariff environment and to actively manage our cost base. Reflecting our trusted partner status, shortly after the quarter ended, we expanded our strategic partnership with Sanofi to acquire its Ridgefield, New Jersey sterile fill-finish site, supporting Sanofi's portfolio of therapies and expanding U.S. capacity to meet growing demand from pharma and biotech customers. 'Our exceptional team continues to execute at a high level, enabling customer success while navigating the macroenvironment. The agility of our organization, powered by the PPI Business System, allowed us to effectively adapt to current market conditions, actively manage our cost base, and deliver strong operational results in the second quarter,' said Marc N. Casper, chairman, president, and chief executive officer of Thermo Fisher Scientific. Casper added: 'Our trusted partner status is resonating strongly with our customers allowing us to continue to drive market share gains and highlights our unique ability to enable their success in all market environments. We've made very good progress through the halfway point in the year, which positions us well to deliver on our 2025 commitments, while building an even brighter future for our company.' Second Quarter 2025 Revenue for the quarter grew 3% to $10.85 billion in 2025, versus $10.54 billion in the second quarter of 2024. Organic revenue growth was 2%. GAAP Earnings Results GAAP diluted EPS in the second quarter of 2025 was $4.28, versus $4.04 in the second quarter of 2024. GAAP operating income for the second quarter of 2025 was $1.83 billion, compared with $1.82 billion in the year-ago quarter. GAAP operating margin was 16.9%, compared with 17.3% in the second quarter of 2024. Non-GAAP Earnings Results Adjusted EPS in the second quarter of 2025 was $5.36, versus $5.37 in the second quarter of 2024. Adjusted operating income for the second quarter of 2025 was $2.38 billion, compared with $2.35 billion in the year-ago quarter. Adjusted operating margin was 21.9%, compared with 22.3% in the second quarter of 2024. Annual Guidance for 2025 The company will provide updated 2025 financial guidance during its earnings conference call this morning at 8:30 a.m. Eastern Time. Use of Non-GAAP Financial Measures Adjusted EPS, adjusted net income, adjusted operating income, adjusted operating margin, free cash flow, and organic revenue growth are non-GAAP measures that exclude certain items detailed after the tables that accompany this press release, under the heading 'Supplemental Information Regarding Non-GAAP Financial Measures.' The reconciliations of GAAP to non-GAAP financial measures are provided in the tables that accompany this press release. Note on Presentation Certain amounts and percentages reported within this press release are presented and calculated based on underlying unrounded amounts. As a result, the sum of components may not equal corresponding totals due to rounding. Conference Call Thermo Fisher Scientific will hold its earnings conference call today, July 23, 2025, at 8:30 a.m. Eastern Time. During the call, the company will discuss its financial performance, as well as future expectations. To listen, call (833) 470-1428 within the U.S. or (404) 975-4839 outside the U.S. The access code is 523661. You may also listen to the call live on the 'Investors' section of our website, The earnings press release and related information can also be found in that section of our website under the heading 'Financials.' A replay of the call will be available under 'News, Events & Presentations' through October 21, 2025. About Thermo Fisher Scientific Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit Safe Harbor Statement The following constitutes a 'Safe Harbor' statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the need to develop new products and adapt to significant technological change; implementation of strategies for improving growth; general economic conditions and related uncertainties; dependence on customers' capital spending policies and government funding policies; the effect of economic and political conditions and exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in governmental regulations; any natural disaster, public health crisis or other catastrophic event; and the effect of laws and regulations governing government contracts, as well as the possibility that expected benefits related to recent or pending acquisitions, may not materialize as expected. Additional important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in our most recent annual report on Form 10-K and subsequent quarterly report on form 10-Q, which are on file with the SEC and available in the 'Investors' section of our website under the heading 'SEC Filings.' While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today. Three months ended June 28, % of June 29, % of (Dollars in millions except per share amounts) 2025 Revenues 2024 Revenues Revenues $ 10,855 $ 10,541 Costs and operating expenses: Cost of revenues (a) 6,378 58.8 % 6,106 57.9 % Selling, general and administrative expenses (b) 1,779 16.4 % 1,687 16.0 % Amortization of acquisition-related intangible assets 429 4.0 % 513 4.9 % Research and development expenses 352 3.2 % 339 3.2 % Restructuring and other costs (c) 82 0.8 % 77 0.7 % Total costs and operating expenses 9,021 83.1 % 8,722 82.7 % Operating income 1,834 16.9 % 1,820 17.3 % Interest income 297 295 Interest expense (404 ) (354 ) Other income/(expense) (d) (19 ) 5 Income before income taxes 1,709 1,765 Benefit from/(provision for) income taxes (e) (92 ) (128 ) Equity in earnings/(losses) of unconsolidated entities 2 (84 ) Net income 1,618 1,553 2 6 Net income attributable to Thermo Fisher Scientific Inc. $ 1,617 14.9 % $ 1,548 14.7 % Earnings per share attributable to Thermo Fisher Scientific Inc.: Basic $ 4.28 $ 4.05 Diluted $ 4.28 $ 4.04 Weighted average shares: Basic 378 382 Diluted 378 383 Reconciliation of adjusted operating income and adjusted operating margin GAAP operating income $ 1,834 16.9 % $ 1,820 17.3 % Cost of revenues adjustments (a) 10 0.1 % 1 0.0 % Selling, general and administrative expenses adjustments (b) 20 0.2 % (64 ) -0.6 % Restructuring and other costs (c) 82 0.8 % 77 0.7 % Amortization of acquisition-related intangible assets 429 4.0 % 513 4.9 % Adjusted operating income (non-GAAP measure) $ 2,375 21.9 % $ 2,347 22.3 % Reconciliation of adjusted net income GAAP net income attributable to Thermo Fisher Scientific Inc. $ 1,617 $ 1,548 Cost of revenues adjustments (a) 10 1 Selling, general and administrative expenses adjustments (b) 20 (64 ) Restructuring and other costs (c) 82 77 Amortization of acquisition-related intangible assets 429 513 Other income/expense adjustments (d) 5 — Income taxes adjustments (e) (133 ) (102 ) Equity in earnings/losses of unconsolidated entities (2 ) 84 Noncontrolling interests adjustments (f) (1 ) (1 ) Adjusted net income (non-GAAP measure) $ 2,026 $ 2,057 Reconciliation of adjusted earnings per share GAAP diluted EPS attributable to Thermo Fisher Scientific Inc. $ 4.28 $ 4.04 Cost of revenues adjustments (a) 0.03 0.00 Selling, general and administrative expenses adjustments (b) 0.05 (0.17 ) Restructuring and other costs (c) 0.22 0.20 Amortization of acquisition-related intangible assets 1.14 1.34 Other income/expense adjustments (d) 0.01 0.00 Income taxes adjustments (e) (0.35 ) (0.26 ) Equity in earnings/losses of unconsolidated entities (0.01 ) 0.22 Noncontrolling interests adjustments (f) 0.00 0.00 Adjusted EPS (non-GAAP measure) $ 5.36 $ 5.37 Reconciliation of free cash flow GAAP net cash provided by operating activities $ 1,399 $ 1,960 Purchases of property, plant and equipment (294 ) (301 ) Proceeds from sale of property, plant and equipment 1 15 Free cash flow (non-GAAP measure) $ 1,105 $ 1,674 Expand Business Segment Information Three months ended June 28, % of June 29, % of (Dollars in millions) 2025 Revenues 2024 Revenues Revenues Life Sciences Solutions $ 2,499 23.0 % $ 2,355 22.3 % Analytical Instruments 1,728 15.9 % 1,782 16.9 % Specialty Diagnostics 1,134 10.4 % 1,117 10.6 % Laboratory Products and Biopharma Services 5,995 55.2 % 5,758 54.6 % Eliminations (501 ) -4.6 % (470 ) -4.5 % Consolidated revenues $ 10,855 100.0 % $ 10,541 100.0 % Segment income and segment income margin Life Sciences Solutions $ 919 36.8 % $ 865 36.7 % Analytical Instruments 325 18.8 % 439 24.6 % Specialty Diagnostics 306 27.0 % 299 26.7 % Laboratory Products and Biopharma Services 825 13.8 % 745 12.9 % Subtotal reportable segments 2,375 21.9 % 2,347 22.3 % Cost of revenues adjustments (a) (10 ) -0.1 % (1 ) 0.0 % Selling, general and administrative expenses adjustments (b) (20 ) -0.2 % 64 0.6 % Restructuring and other costs (c) (82 ) -0.8 % (77 ) -0.7 % Amortization of acquisition-related intangible assets (429 ) -4.0 % (513 ) -4.9 % Consolidated GAAP operating income $ 1,834 16.9 % $ 1,820 17.3 % Expand (a) Adjusted results in 2025 exclude $5 of accelerated depreciation on manufacturing assets to be abandoned due to facility consolidations and $5 of charges for the sale of inventory revalued at the date of acquisition. Adjusted results in 2024 exclude charges for inventory write-downs associated with large-scale abandonment of product lines. (b) Adjusted results exclude certain third-party expenses, principally transaction/integration costs related to recent acquisitions and charges/credits for changes in estimates of contingent acquisition consideration. (c) Adjusted results exclude restructuring and other costs consisting principally of severance, impairments of long-lived assets, net charges/credits for pre-acquisition litigation and other matters, and abandoned facility and other expenses of headcount reductions and real estate consolidations. (d) Adjusted results exclude net gains/losses on investments. Adjusted results in 2025 exclude $5 of charges for settlement of pension plans. (e) Adjusted results exclude incremental tax impacts for the reconciling items between GAAP and adjusted net income, incremental tax impacts as a result of tax rate/law changes and the tax impacts from audit settlements. Note: Consolidated depreciation expense is $256 and $276 in 2025 and 2024, respectively. Expand Note: For more information related to non-GAAP financial measures, refer to the section titled 'Supplemental Information Regarding Non-GAAP Financial Measures' of this release. Expand Condensed Consolidated Statements of Income (unaudited) Six months ended June 28, % of June 29, % of (Dollars in millions except per share amounts) 2025 Revenues 2024 Revenues Revenues $ 21,219 $ 20,886 Costs and operating expenses: Cost of revenues (a) 12,435 58.6 % 12,146 58.2 % Selling, general and administrative expenses (b) 3,500 16.5 % 3,417 16.4 % Amortization of acquisition-related intangible assets 859 4.0 % 1,065 5.1 % Research and development expenses 695 3.3 % 670 3.2 % Restructuring and other costs (c) 180 0.9 % 106 0.5 % Total costs and operating expenses 17,668 83.3 % 17,404 83.3 % Operating income 3,551 16.7 % 3,483 16.7 % Interest income 501 574 Interest expense (707 ) (717 ) Other income/(expense) (d) (16 ) 14 Income before income taxes 3,329 3,354 Benefit from/(provision for) income taxes (e) (187 ) (408 ) Equity in earnings/(losses) of unconsolidated entities (12 ) (61 ) Net income 3,130 2,885 Less: net income/(losses) attributable to noncontrolling interests and redeemable noncontrolling interest (f) 6 9 Net income attributable to Thermo Fisher Scientific Inc. $ 3,124 14.7 % $ 2,875 13.8 % Earnings per share attributable to Thermo Fisher Scientific Inc.: Basic $ 8.27 $ 7.53 Diluted $ 8.26 $ 7.50 Weighted average shares: Basic 378 382 Diluted 378 383 Reconciliation of adjusted operating income and adjusted operating margin GAAP operating income $ 3,551 16.7 % $ 3,483 16.7 % Cost of revenues adjustments (a) 21 0.1 % 17 0.1 % Selling, general and administrative expenses adjustments (b) 34 0.2 % (45 ) -0.2 % Restructuring and other costs (c) 180 0.9 % 106 0.5 % Amortization of acquisition-related intangible assets 859 4.0 % 1,065 5.1 % Adjusted operating income (non-GAAP measure) $ 4,644 21.9 % $ 4,625 22.1 % Reconciliation of adjusted net income GAAP net income attributable to Thermo Fisher Scientific Inc. $ 3,124 $ 2,875 Cost of revenues adjustments (a) 21 17 Selling, general and administrative expenses adjustments (b) 34 (45 ) Restructuring and other costs (c) 180 106 Amortization of acquisition-related intangible assets 859 1,065 Other income/expense adjustments (d) 4 (11 ) Income taxes adjustments (e) (256 ) (51 ) Equity in earnings/losses of unconsolidated entities 12 61 Noncontrolling interests adjustments (f) (1 ) (1 ) Adjusted net income (non-GAAP measure) $ 3,976 $ 4,016 Reconciliation of adjusted earnings per share GAAP diluted EPS attributable to Thermo Fisher Scientific Inc. $ 8.26 $ 7.50 Cost of revenues adjustments (a) 0.06 0.04 Selling, general and administrative expenses adjustments (b) 0.09 (0.12 ) Restructuring and other costs (c) 0.48 0.28 Amortization of acquisition-related intangible assets 2.27 2.78 Other income/expense adjustments (d) 0.01 (0.03 ) Income taxes adjustments (e) (0.68 ) (0.13 ) Equity in earnings/losses of unconsolidated entities 0.03 0.16 Noncontrolling interests adjustments (f) 0.00 0.00 Adjusted EPS (non-GAAP measure) $ 10.51 $ 10.47 Reconciliation of free cash flow GAAP net cash provided by operating activities $ 2,122 $ 3,211 Purchases of property, plant and equipment (656 ) (648 ) Proceeds from sale of property, plant and equipment 13 20 Free cash flow (non-GAAP measure) $ 1,479 $ 2,583 Expand Business Segment Information Six months ended June 28, % of June 29, % of (Dollars in millions) 2025 Revenues 2024 Revenues Revenues Life Sciences Solutions $ 4,840 22.8 % $ 4,640 22.2 % Analytical Instruments 3,446 16.2 % 3,469 16.6 % Specialty Diagnostics 2,282 10.8 % 2,227 10.7 % Laboratory Products and Biopharma Services 11,635 54.8 % 11,480 55.0 % Eliminations (983 ) -4.6 % (930 ) -4.5 % Consolidated revenues $ 21,219 100.0 % $ 20,886 100.0 % Segment income and segment income margin Life Sciences Solutions $ 1,753 36.2 % $ 1,705 36.7 % Analytical Instruments 724 21.0 % 838 24.2 % Specialty Diagnostics 610 26.7 % 593 26.6 % Laboratory Products and Biopharma Services 1,557 13.4 % 1,489 13.0 % Subtotal reportable segments 4,644 21.9 % 4,625 22.1 % Cost of revenues adjustments (a) (21 ) -0.1 % (17 ) -0.1 % Selling, general and administrative expenses adjustments (b) (34 ) -0.2 % 45 0.2 % Restructuring and other costs (c) (180 ) -0.9 % (106 ) -0.5 % Amortization of acquisition-related intangible assets (859 ) -4.0 % (1,065 ) -5.1 % Consolidated GAAP operating income $ 3,551 16.7 % $ 3,483 16.7 % Expand (a) Adjusted results exclude accelerated depreciation on manufacturing assets to be abandoned due to facility consolidations. Adjusted results in 2025 exclude $10 of charges for the sale of inventory revalued at the date of acquisition. Adjusted results in 2024 also exclude $13 of charges for inventory write-downs associated with large-scale abandonment of product lines. (b) Adjusted results exclude certain third-party expenses, principally transaction/integration costs related to recent acquisitions and charges/credits for changes in estimates of contingent acquisition consideration. (c) Adjusted results exclude restructuring and other costs consisting principally of severance, impairments of long-lived assets, net charges for pre-acquisition litigation and other matters, net gains/losses on the sale of real estate, and abandoned facility and other expenses of headcount reductions and real estate consolidations. (d) Adjusted results exclude net gains/losses on investments. Adjusted results in 2025 exclude $5 of charges for settlement of pension plans. (e) Adjusted results exclude incremental tax impacts for the reconciling items between GAAP and adjusted net income, incremental tax impacts as a result of tax rate/law changes and the tax impacts from audit settlements. Notes: Consolidated depreciation expense is $532 and $562 in 2025 and 2024, respectively. For more information related to non-GAAP financial measures, refer to the section titled 'Supplemental Information Regarding Non-GAAP Financial Measures' of this release. Expand Note: For more information related to non-GAAP financial measures, refer to the section titled 'Supplemental Information Regarding Non-GAAP Financial Measures' of this release. Expand Condensed Consolidated Balance Sheets (unaudited) June 28, December 31, (In millions) 2025 2024 Assets Current assets: Cash and cash equivalents $ 4,576 $ 4,009 Short-term investments 1,814 1,561 Accounts receivable, net 8,594 8,191 Inventories 5,559 4,978 Other current assets 4,040 3,399 Total current assets 24,584 22,137 Property, plant and equipment, net 9,635 9,306 Acquisition-related intangible assets, net 15,148 15,533 Other assets 4,615 4,492 Goodwill 47,249 45,853 Total assets $ 101,230 $ 97,321 Liabilities, redeemable noncontrolling interest and equity Current liabilities: Short-term obligations and current maturities of long-term obligations $ 2,214 $ 2,214 Other current liabilities 10,504 11,118 Total current liabilities 12,718 13,332 Other long-term liabilities 4,894 5,257 Long-term obligations 33,015 29,061 Redeemable noncontrolling interest 126 120 Total equity 50,476 49,551 Total liabilities, redeemable noncontrolling interest and equity $ 101,230 $ 97,321 Expand Condensed Consolidated Statements of Cash Flows (unaudited) Six months ended June 28, June 29, (In millions) 2025 2024 Operating activities Net income $ 3,130 $ 2,885 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 1,391 1,626 Change in deferred income taxes (601 ) (607 ) Other non-cash expenses, net 354 311 Changes in assets and liabilities, excluding the effects of acquisitions (2,151 ) (1,003 ) Net cash provided by operating activities 2,122 3,211 Investing activities Purchases of property, plant and equipment (656 ) (648 ) Proceeds from sale of property, plant and equipment 13 20 Proceeds from cross-currency interest rate swap interest settlements 134 111 Purchases of investments (311 ) (1,778 ) Other investing activities, net 6 12 Net cash used in investing activities (815 ) (2,283 ) Financing activities Net proceeds from issuance of debt 2,840 1,204 Repayment of debt (1,625 ) — Purchases of company common stock (2,000 ) (3,000 ) Dividends paid (311 ) (284 ) Other financing activities, net 3 145 Net cash used in financing activities (1,093 ) (1,936 ) Exchange rate effect on cash 348 7 Increase (decrease) in cash, cash equivalents and restricted cash 563 (1,000 ) Cash, cash equivalents and restricted cash at beginning of period 4,040 8,097 Cash, cash equivalents and restricted cash at end of period $ 4,603 $ 7,097 Free cash flow (non-GAAP measure) $ 1,479 $ 2,583 Expand Supplemental Information Regarding Non-GAAP Financial Measures In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures such as organic revenue growth, which is reported revenue growth, excluding the impacts of acquisitions/divestitures and the effects of currency translation. We report these measures because Thermo Fisher management believes that in order to understand the company's short-term and long-term financial trends, investors may wish to consider the impact of acquisitions/divestitures, and/or foreign currency translation on revenues. Thermo Fisher management uses these measures to forecast and evaluate the operational performance of the company as well as to compare revenues of current periods to prior periods. We report adjusted operating income, adjusted operating margin, adjusted net income, and adjusted EPS. We believe that the use of these non-GAAP financial measures, in addition to GAAP financial measures, helps investors to gain a better understanding of our core operating results and future prospects, consistent with how management measures and forecasts the company's core operating performance, especially when comparing such results to previous periods, forecasts, and to the performance of our competitors. Such measures are also used by management in their financial and operating decision-making and for compensation purposes. To calculate these measures we exclude, as applicable: Certain acquisition-related costs, including charges for the sale of inventories revalued at the date of acquisition, significant transaction/acquisition-related costs, including changes in estimates of contingent acquisition-related consideration, and other costs associated with obtaining short-term financing commitments for pending/recent acquisitions. We exclude these costs because we do not believe they are indicative of our normal operating costs. Costs/income associated with restructuring activities and large-scale abandonments of product lines, such as reducing overhead and consolidating facilities. We exclude these costs because we believe that the costs related to restructuring activities are not indicative of our normal operating costs. Equity in earnings/losses of unconsolidated entities; impairments of long-lived assets; and certain other gains and losses that are either isolated or cannot be expected to occur again with any predictability, including gains/losses on investments, the sale of businesses, product lines, and real estate, significant litigation-related matters, curtailments/settlements of pension plans, and the early retirement of debt. We exclude these items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods. The expense associated with the amortization of acquisition-related intangible assets because a significant portion of the purchase price for acquisitions may be allocated to intangible assets that have lives of up to 20 years. Exclusion of the amortization expense allows comparisons of operating results that are consistent over time for both our newly acquired and long-held businesses and with both acquisitive and non-acquisitive peer companies. The noncontrolling interest and tax impacts of the above items and the impact of significant tax audits or events (such as changes in deferred taxes from enacted tax rate/law changes), the latter of which we exclude because they are outside of our normal operations and difficult to forecast accurately for future periods. We report free cash flow, which is operating cash flow less net capital expenditures, to provide a view of the continuing operations' ability to generate cash for use in acquisitions and other investing and financing activities. The company also uses this measure as an indication of the strength of the company. Free cash flow is not a measure of cash available for discretionary expenditures since we have certain non-discretionary obligations such as debt service that are not deducted from the measure. Thermo Fisher Scientific does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort items such as the timing and amount of future restructuring actions and acquisition-related charges as well as gains or losses from sales of real estate and businesses, the early retirement of debt and the outcome of legal proceedings. The timing and amount of these items are uncertain and could be material to Thermo Fisher Scientific's results computed in accordance with GAAP. The non-GAAP financial measures of Thermo Fisher Scientific's results of operations and cash flows included in this press release are not meant to be considered superior to or a substitute for Thermo Fisher Scientific's results of operations prepared in accordance with GAAP. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the tables above.
Yahoo
2 days ago
- Health
- Yahoo
5 best cooling pillows of 2025 to help keep you cool and comfy through the night
If you find yourself struggling with hot flashes, menopause symptoms or night sweats that leave you tossing and turning (especially in the summer heat), you're not the only one. For many Canadians, getting a good night's sleep becomes even more challenging with age, especially when your body temperature fails to cooperate. Whether you're experiencing hormonal changes, age-related sleep disturbances or simply run hot, investing in a high-quality cooling pillow can make a huge difference. Pillows made using breathable materials (like gel-infused memory foam and moisture-wicking fabrics) can help regulate your body temperature, relieve discomfort and keep you cool all night long. So, whether you're in the midst of a summer heat wave or a full-blown hot flash, we've rounded up the very best cooling pillows you can snag right now. If you want to sleep cooler, deeper and more comfortably, keep scrolling. Foam Pillow with Snow Technology Firmness: This standard foam pillow is available in a low loft (flatter) or high loft (great for side sleepers) option. This Casper pillow is designed to keep you cool and comfortable throughout the night, thanks to its innovative Snow Technology, which will help provide up to 12 hours of uninterrupted sleep. Whether you're a stomach or side sleeper, the pillow's foam will help you stay properly aligned for maximum comfort. The combination of materials and cooling technology prevents heat from getting trapped, while the cool-to-the-touch outer layer provides a refreshing feel as soon as you lay your head down. The pillow will ensure support for your neck and shoulders throughout the night, available in both Low Loft for stomach sleepers and High Loft for side sleepers. With its active cooling and supportive design, this pillow will help you stay cool and comfortable all night, allowing you to wake up feeling best sports bras for every sweaty summer workout The best dresses to conceal your tummy and how to feel confident in them 22 best walking shoes for women, recommended by a podiatrist Best cooling pillows Coop Home Goods Eden Cool+ Adjustable Pillow Firmness: This pillow has an added gel-infused layer for extra cooling and support. Inside the Coop Eden Cool+ pillow is gel-infused fill and materials that allow for better airflow, which help keep the heat away. On the outside, there's a soft, cool cover and a heat-wicking liner to keep things chill (literally). The memory foam and microfibre work together to prevent the pillow from trapping heat and moisture, making it a great pick if you tend to overheat at night or struggle with temperature regulation. The pillow is also adjustable — just unzip the cover and add or remove filling to get the right firmness for you. Plus, it has two sides to choose from: one soft and cool, and the other firmer with extra cooling support. So, no matter which side you get, you can anticipate a cool and comfortable sleep. Sijo Flexcool Adjustable Memory Foam Pillow Firmness: This pillow comes with a pouch of fill, so you can adjust its height and firmness. If you're looking for the perfect pillow, this one is adjustable, so you can tailor the height and firmness to your liking. How? It comes with a pouch of fill so you can customize it to fit your comfort needs. So, whether you like a soft or firm pillow, you can easily change it up for that just-right feel. Plus, the cooling fabric will help keep your temperature regulated all night, so no more tossing and turning from overheating. The materials consist of a super soft cotton lining and a mix of nylon and spandex on the outside. And the side zip closure makes it easy to add or remove the fill, giving you full control over the height. It's available in Standard/Queen (20' x 28') and King (20' x 36') sizes, too. Customers are loving the difference it makes: "Loved it so much, I bought another one the next day!" If you're seeking a pillow that offers personalized comfort and cooling all in one, this is definitely worth a try. Tempur-Pedic TEMPUR-Cloud Breeze Dual Cooling Pillow Firmness: This dual-sided cooling pillow has a medium feel and medium profile. If you're on the hunt for a pillow that gives you the perfect balance of comfort and support, this soft TEMPUR-Cloud pillow might just be the one. It's designed for back, side and stomach sleepers, helping you get the restful night's sleep you deserve. Thanks to the pressure-relieving memory foam, the pillow will adjust to your head, neck and shoulders for customized support. It will help you wake up feeling more refreshed and pain-free. The material is also very adaptive, compressing easily for travel — and it will bounce back to its original shape by morning. It also comes with a breathable polyester cover that's super easy to clean — just toss it in the washing machine when needed. Its queen size will fit perfectly on most beds, giving you plenty of space to rest comfortably. SLUMBER CLOUD UltraCool Pillow Firmness: This standard pillow offers soft to medium firmness. Fun fact: this UltraCool Pillow uses NASA-engineered Outlast technology to keep you cool throughout the night. It works to actively regulate body temperature, reducing heat buildup by up to 50 per cent, so you can sleep deeper and more comfortably without being woken up by hot flashes or night sweats. It comes in two firmness levels, allowing you to choose the right support for your neck. This one offers soft/medium support, but there's also a medium/firm option on the Slumber Cloud website. Whether you sleep on your back, side or stomach, it offers the perfect balance of comfort and support. Best cooling pillows under $50 Looking for something more budget-friendly? We've got you covered with these under-$50 picks from Amazon Canada. COZSINOOR Queen Size Bed Pillows (2-Pack) KUCEY Cooling Bed Pillow KUCEY Cooling Side Sleeper Pillow Royal Choice Cooling Memory Foam Neck Pillow KELTARO Queen Size Cooling Pillows (2-Pack)
Business Insider
17-07-2025
- Business
- Business Insider
Purple's most affordable bed is on sale: Save $300 on the PurpleFlex Mattress
If you like the cooling comfort that a gel mattress provides, you can't go wrong with a bed from Purple, a brand known for its pressure-relieving GelFlex grid technology. That said, most of the Purple mattresses we've tested are a bit too expensive for our liking. Luckily, the current PurpleFlex Mattress deal means our budget pick just got even more affordable. Purple's budget option, the PurpleFlex, offers impressive pressure relief and spinal alignment while staying cool. Its firmer-than-average feel is ideal for back and stomach sleepers. Note: The price shown here is for the queen-sized mattress, but the discount also applies to some other sizes, which are selectable on the same in at $1,700 less than the Purple RestorePlus Hybrid, our favorite Purple bed overall, the PurpleFlex is already a steal. But the current deal brings the mattress down another $300 to just $999, and that's not even accounting for the many Purple coupons you can apply to your order for an even better deal. Needless to say, you won't want to miss don't let the PurpleFlex's price fool you; it's still a top-notch bed. Designed with Purple's signature polymer grid, it immediately responds to the contours of your body to provide support and pressure relief. In fact, our mattress expert found that the PurpleFlex provided the best spinal alignment of any bed he'd PurpleFlex also has impressive heat dissipation, making it a solid choice for hot sleepers who struggle to stay cool throughout the night. The bed is on the firm side, which may be an issue for side sleepers, but it landed on our list of the best mattresses for stomach sleepers, who may benefit from the extra our full PurpleFlex Mattress review to learn the current discount, the queen-size PurpleFlex Mattress is 23% off. Add it to your cart now for just $999 while the deal mattress sales | Twin and twin XL mattress sales | Casper coupons | Big Fig promo codes | Mattress Firm discount codesAll Purple mattresses automatically come with a 10-year limited warranty covering defects. Learn more about what the warranty covers and how to submit a claim on Purple's offers free shipping on all orders within the continental United States. Standard shipping typically takes five to 10 business us on Instagram and WhatsApp to keep up with the latest deals, reviews, and buying guides.
