Thermo Fisher Scientific reported its financial results for the fourth quarter and full year of 2024. Fourth-quarter revenue grew by 5% to $11.40 billion, while GAAP diluted earnings per share (EPS) increased by 14% to $4.78. Adjusted EPS for the quarter rose 8% to $6.10. Full-year revenue remained flat at $42.88 billion compared to the previous year. However, full-year GAAP diluted EPS rose by 7% to $16.53, and adjusted EPS increased by 1% to $21.86.

The company highlighted its strategic initiatives in 2024, including the launch of innovative products such as the Thermo Scientific Iliad Transmission Electron Microscope and the Thermo Scientific Stellar mass spectrometer. It also introduced Accelerator Drug Development, aimed at streamlining drug development. Thermo Fisher completed the acquisition of Olink and returned $4.6 billion to shareholders through stock buybacks and dividends.

GAAP operating income for the fourth quarter was $2.02 billion, with an operating margin of 17.7%. Adjusted operating income reached $2.72 billion, yielding a 23.9% adjusted operating margin. For the full year, GAAP operating income was $7.34 billion, while adjusted operating income was $9.71 billion. The adjusted operating margin for the year was 22.6%.

Despite flat overall revenue growth for the full year, the company maintained strong profitability and continued investing in growth initiatives. The company will provide its financial guidance for 2025 during its earnings call. Thermo Fisher remains committed to supporting scientific advancements and enhancing customer productivity through its extensive product portfolio and strategic partnerships.