Thermo Fisher Scientific Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Thermo Fisher Scientific Inc. has filed its Q1 2024 10-Q report.</b>

AI Summary

THERMO FISHER SCIENTIFIC INC. (TMO) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Thermo Fisher Scientific Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Thermo Fisher Scientific Inc. is incorporated in Delaware. The company's principal business address is 168 Third Avenue, Waltham, MA 02451.

Why It Matters

For investors and stakeholders tracking THERMO FISHER SCIENTIFIC INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Thermo Fisher Scientific Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: low — THERMO FISHER SCIENTIFIC INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or significant events that would elevate the risk profile.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the drivers of revenue and profitability for Q1 2024.

Key Numbers

• 2024-03-30 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 12/31 — Fiscal Year End (FISCAL YEAR END)
• 2024 — Fiscal Year (FILING VALUES)
• Q1 — Fiscal Quarter (FILING VALUES)

Key Players & Entities

• THERMO FISHER SCIENTIFIC INC. (company) — FILER
• 0000097745 (company) — CENTRAL INDEX KEY
• DE (company) — STATE OF INCORPORATION
• 168 THIRD AVENUE (company) — BUSINESS ADDRESS STREET 1
• WALTHAM (company) — BUSINESS ADDRESS CITY
• MA (company) — BUSINESS ADDRESS STATE
• 02451 (company) — BUSINESS ADDRESS ZIP
• 7816221000 (company) — BUSINESS PHONE

FAQ

Industry Context

Thermo Fisher Scientific operates in the life sciences industry, providing analytical instruments, reagents, consumables, and software services.

Regulatory Implications

The company is subject to various regulations governing the manufacturing, sale, and distribution of its products, particularly those related to healthcare and diagnostics.

What Investors Should Do

1. Analyze the revenue breakdown by product and service segments for Q1 2024.
2. Examine any disclosed changes in selling, general, and administrative expenses.
3. Review the company's balance sheet for changes in assets and liabilities compared to the previous fiscal year-end.

Key Dates

• 2024-03-30: Quarterly Report End Date — Marks the end of the reporting period for the 10-Q.
• 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal quarter ending March 30, 2024, following the 10-K filing for the fiscal year ending December 31, 2023.

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value TMO New York Stock Exchange

Filing Documents

• tmo-20240330.htm (10-Q) — 1415KB
• q1202410qex101.htm (EX-10.1) — 64KB
• q1202410qex102.htm (EX-10.2) — 58KB
• q1202410qex103.htm (EX-10.3) — 57KB
• q1202410qex104.htm (EX-10.4) — 55KB
• q1202410qex105.htm (EX-10.5) — 57KB
• q1202410qex106.htm (EX-10.6) — 48KB
• q1202410qex107.htm (EX-10.7) — 48KB
• q1202410qex311.htm (EX-31.1) — 10KB
• q1202410qex312.htm (EX-31.2) — 10KB
• q1202410qex321.htm (EX-32.1) — 7KB
• q1202410qex322.htm (EX-32.2) — 6KB
• 0000097745-24-000023.txt (&nbsp;) — 8522KB
• tmo-20240330.xsd (EX-101.SCH) — 51KB
• tmo-20240330_cal.xml (EX-101.CAL) — 78KB
• tmo-20240330_def.xml (EX-101.DEF) — 249KB
• tmo-20240330_lab.xml (EX-101.LAB) — 661KB
• tmo-20240330_pre.xml (EX-101.PRE) — 448KB
• tmo-20240330_htm.xml (XML) — 1415KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statements of Cash Flows 6 Condensed Consolidated Statements of Redeemable Noncontrolling Interest and Equity 7 Notes to Condensed Consolidated Financial Statements 8 Note 1. Nature of Operations and Summary of Significant Accounting Policies 8 Note 2. Acquisitions 9 Note 3. Revenues and Contract-related Balances 10 Note 4. Business Segment and Geographical Information 11 Note 5. Income Taxes 12 Note 6. Earnings per Share 13 Note 7. Debt and Other Financing Arrangements 13 Note 8. Commitments and Contingencies 15 Note 9. Comprehensive Income/(Loss) and Shareholders' Equity 16 Note 10. Fair Value Measurements and Fair Value of Financial Instruments 16 Note 11. Supplemental Cash Flow Information 19 Note 12. Restructuring and Other Costs 19 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 5. Other Information 29 Item 6. Exhibits 29 2 THERMO FISHER SCIENTIFIC INC.

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 30, December 31, (In millions except share and per share amounts) 2024 2023 Assets Current assets: Cash and cash equivalents $ 5,499 $ 8,077 Short-term investments 1,751 3 Accounts receivable, less allowances of $ 197 and $ 193 7,931 8,221 Inventories 5,133 5,088 Contract assets, net 1,422 1,443 Other current assets 1,904 1,757 Total current assets 23,640 24,589 Property, plant and equipment, net 9,324 9,448 Acquisition-related intangible assets, net 16,048 16,670 Other assets 4,241 3,999 Goodwill 43,843 44,020 Total assets $ 97,095 $ 98,726 Liabilities, redeemable noncontrolling interest and equity Current liabilities: Short-term obligations and current maturities of long-term obligations $ 4,451 $ 3,609 Accounts payable 2,555 2,872 Accrued payroll and employee benefits 1,314 1,596 Contract liabilities 2,632 2,689 Other accrued expenses 2,985 3,246 Total current liabilities 13,937 14,012 Deferred income taxes 1,811 1,922 Other long-term liabilities 4,567 4,642 Long-term obligations 31,157 31,308 Redeemable noncontrolling interest 119 118 Equity: Thermo Fisher Scientific Inc. shareholders' equity: Preferred stock, $ 100 par value, 50,000 shares authorized; none issued — — Common stock, $ 1 par value, 1,200,000,000 shares authorized; 442,822,699 and 442,188,634 shares issued 443 442 Capital in excess of par value 17,482 17,286 Retained earnings 48,542 47,364 Treasury stock at cost, 61,106,376 and 55,541,290 shares ( 18,186 ) ( 15,133 ) Accumulated other comprehensive income/(loss) ( 2,764 ) ( 3,224 ) Total Thermo Fisher Scientific Inc. shareholders' equity 45,516 46,735 Noncontrolling interests ( 12 ) ( 11 ) Total equity 45,504 46,724 Total liabilities, redeemable noncontrolling interest and equity $ 97,095 $ 98,726 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 THERMO FISHER SC

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