Seattle-based Fred Hutchinson Cancer Center reported an operating income of $33.9 million (2.5% operating margin) in the first half of fiscal 2026, down from an operating income of $84.3 million (6.8% margin) during the same period last year.
Fred Hutch reported total operating revenue of $1.3 billion for the six months ended Dec. 31, up from $1.2 billion during the same period last year. Patient service revenue was $909.3 million, up from $762.5 million. Research grants and contracts totaled $247.1 million, up from $241.2 million. Investment income and realized gains totaled $36.6 million, down from $116 million.
Total operating expenses were $1.3 billion in the first half of 2026, up from $1.2 billion during the same period last year. Salaries, wages and benefits totaled $439.8 million, up from $415.7 million. Supply expenses totaled $425.3 million, up from $342.9 million. Other operating expenses totaled $101.5 million, up from $80.8 million.
Fred Hutch reported a net income of $83 million in the first half of 2026, up from $19.6 million during the same period last year.
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