Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

Income Statement
Quarterly Data

Thermo Fisher Scientific Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Product revenues 6,411 6,157 6,271 6,404 6,945 6,583 7,003 8,017 7,931 7,360 7,214 7,856 8,644 6,782 5,250 4,630 5,151 4,798 4,827 4,720
Service revenues 4,475 4,417 4,416 4,306 4,505 4,094 3,967 3,801 2,771 1,970 2,059 2,050 1,906 1,739 1,667 1,600 1,678 1,474 1,489 1,405
Revenues 10,886 10,574 10,687 10,710 11,450 10,677 10,970 11,818 10,702 9,330 9,273 9,906 10,550 8,521 6,917 6,230 6,829 6,272 6,316 6,125
Cost of product revenues (3,339) (3,214) (3,278) (3,337) (3,682) (3,494) (3,516) (3,555) (3,617) (3,298) (3,352) (3,327) (3,675) (3,001) (2,391) (2,340) (2,674) (2,471) (2,478) (2,414)
Cost of service revenues (3,154) (3,044) (3,158) (3,233) (3,162) (2,881) (2,855) (2,799) (1,831) (1,381) (1,397) (1,370) (1,319) (1,189) (1,149) (1,150) (1,120) (1,038) (1,015) (1,004)
Cost of revenues (6,493) (6,258) (6,436) (6,570) (6,844) (6,375) (6,371) (6,354) (5,448) (4,679) (4,749) (4,697) (4,994) (4,190) (3,540) (3,490) (3,794) (3,509) (3,493) (3,418)
Gross profit 4,393 4,316 4,251 4,140 4,606 4,302 4,599 5,464 5,254 4,651 4,524 5,209 5,556 4,331 3,377 2,740 3,035 2,763 2,823 2,707
Selling, general and administrative expenses (2,132) (2,049) (2,145) (2,119) (2,299) (2,208) (2,209) (2,277) (2,278) (2,004) (1,899) (1,826) (2,077) (1,592) (1,710) (1,551) (1,512) (1,539) (1,565) (1,528)
Research and development expenses (327) (319) (345) (346) (391) (351) (365) (364) (392) (351) (343) (320) (376) (296) (264) (245) (262) (247) (246) (248)
Restructuring and other income (costs) (80) (84) (183) (112) (55) (33) (24) (2) (46) (18) (119) (14) (32) (17) (12) (38) (29) (31) 484 (11)
Operating income 1,854 1,864 1,578 1,563 1,861 1,710 2,001 2,821 2,538 2,278 2,163 3,049 3,071 2,426 1,391 906 1,232 946 1,496 920
Interest income 309 246 178 146 150 68 36 18 11 9 11 12 12 9 8 36 45 52 60 67
Interest expense (390) (359) (326) (300) (269) (173) (148) (136) (161) (128) (122) (125) (146) (144) (137) (126) (142) (164) (181) (189)
Other income (expense) (33) 14 (46) 35 (4) 28 (163) (526) 18 (3) (183) (45) (39) (9) 12 (97) (12) 18 19
Income from continuing operations before income taxes 1,740 1,765 1,430 1,363 1,777 1,601 1,917 2,540 1,862 2,177 2,049 2,753 2,892 2,252 1,253 828 1,038 822 1,393 817
Provision for income taxes (133) (53) (52) (46) (173) (31) (198) (301) (203) (271) (219) (416) (394) (319) (97) (40) (36) (62) (274) (2)
Equity in losses of unconsolidated entities (1) (17) (16) (25) (30) (72) (51) (19) (3) (1)
Net income 1,606 1,695 1,362 1,292 1,574 1,498 1,668 2,220 1,659 1,903 1,829 2,337 2,498 1,933 1,156 788 1,002 760 1,119 815
Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interest 24 20 (1) (3) 2 (3) (4) (5) (1) (1) (1)
Net income attributable to Thermo Fisher Scientific Inc. 1,630 1,715 1,361 1,289 1,576 1,495 1,664 2,215 1,658 1,902 1,828 2,337 2,498 1,933 1,156 788 1,002 760 1,119 815

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Thermo Fisher Scientific Inc. revenues decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Thermo Fisher Scientific Inc. operating income increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023.
Income from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Thermo Fisher Scientific Inc. income from continuing operations before income taxes increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023.
Net income attributable to Thermo Fisher Scientific Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Thermo Fisher Scientific Inc. net income attributable to Thermo Fisher Scientific Inc. increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023.