Thermo Fisher Scientific (TMO) official guidance

In terms of free cash flow, we continue to expect that to be in the range of $6.9 billion-$7.4 billion for the year, including between $1.9 billion and $2.1 billion of net capital expenditures.

We expect between $1.9 billion and $2.1 billion of net capital expenditures and free cash flow in the range of $6.9 billion-$7.4 billion for the year, both reflecting the addition of Clario.

We're expecting between $1.8 billion and $2 billion of net capital expenditures in 2026.

We estimate that full-year average diluted share count will be between 370 million and 373 million shares.

We estimate the full year average diluted share count will be between 370 and 375 million shares.

We estimate the full year average diluted share count will be between 370 and 375 million shares.

We continue to assume that the adjusted income tax rate will be 11.5%.

We continue to assume that the adjusted income tax rate will be 11.5%.

We assume that the adjusted income tax rate will be 11.5% in 2026, largely driven by the increased earnings.

We're also increasing our adjusted earnings per share guidance to be in the range of $24.93-$25.33, which now represents 9%-11% growth over 2025, and a $0.25 increase from our previous guidance at the midpoint.

We expect adjusted earnings per share to be in the range of $24.64-$25.12, which represents 8%-10% growth over 2025, an increase from our original guidance of $24.22-$24.80.

We are initiating our earnings guidance with an adjusted EPS range of $24.22-$24.80 per share, which represents 6%-8% growth in adjusted earnings per share.

In terms of free cash flow, we continue to expect that to be in the range of $6.9 billion-$7.4 billion for the year, including between $1.9 billion and $2.1 billion of net capital expenditures.

We expect between $1.9 billion and $2.1 billion of net capital expenditures and free cash flow in the range of $6.9 billion-$7.4 billion for the year, both reflecting the addition of Clario.

In terms of free cash flow, we're expecting that to be in the range of $6.8 billion to $7.3 billion for the year.

We continue to expect approximately $660 million of net interest expense in 2026.

We expect approximately $660 million of net interest expense, which now includes financing for the Clario acquisition.

We expect approximately $500 million of net interest expense in 2026.

In terms of adjusted operating income margins, our guide has increased to 80 basis points of expansion.

In terms of adjusted operating margins, our guide has increased to 70 basis points of expansion for the year, including the addition of Clario and the strong performance we delivered in Q1.

The guidance assumes 3%-4% organic revenue growth, a $300 million revenue tailwind from foreign exchange, and 50 basis points of adjusted operating margin expansion.

Our expectation for full-year organic revenue growth has increased to about 4%. Our guidance range remains 3%-4%, and we now expect to deliver at the upper end of that range.

We're raising revenue guidance from a range of $46.3 billion-$47.2 billion, to a new range of $47.3 billion-$48.1 billion, which represents 6%-8% reported revenue growth over 2025 and continues to assume 3%-4% organic revenue growth for the year.

We are initiating a 2026 revenue guidance range of $46.3 billion-$47.2 billion, which represents 4%-6% reported revenue growth over 2025 and assumes 3%-4% organic growth for the year.

We grew 3% organically in the first half in total and expect that to step up to 4% for the second half, with both quarters being similar in terms of organic revenue growth.

We're raising our revenue guidance to a new range of $47.4 billion-$48.1 billion, representing 6%-8% reported revenue growth over 2025.

We're raising revenue guidance from a range of $46.3 billion-$47.2 billion, to a new range of $47.3 billion-$48.1 billion, which represents 6%-8% reported revenue growth over 2025 and continues to assume 3%-4% organic revenue growth for the year.

We are initiating a 2026 revenue guidance range of $46.3 billion-$47.2 billion, which represents 4%-6% reported revenue growth over 2025 and assumes 3%-4% organic growth for the year.

Updating for FX, we now expect a $200 million revenue tailwind from foreign exchange, which is $100 million lower than our previous guidance.

In terms of capital deployment, we're assuming $4 billion of share buybacks, with $3 billion completed in January and an additional $1 billion completed in the second quarter.

In terms of capital deployment, we're assuming $3 billion of share buybacks, which were already completed in January, and that we'll return approximately $700 million of capital to shareholders this year through dividends.

In terms of capital deployment, we're assuming $3 billion of share buybacks, which were already completed in January.

We're assuming that we'll return approximately $700 million of capital to shareholders this year through dividends.

In terms of capital deployment, we're assuming $3 billion of share buybacks, which were already completed in January, and that we'll return approximately $700 million of capital to shareholders this year through dividends.

And we're assuming we'll return approximately $700 million of capital to shareholders this year through dividends.