CLAIM #20554 · DHR (DHR) · 2022Q2 earnings call · Jul 21, 2022 · due Dec 31, 2023
“And when you unpack that a little bit, we see bioprocessing could be up high single digit and that's consistent with what we've spoken of.”
Rainer Blair · CEO
In context
“se challenging macro environments as opportunities. So rather than battening down hatches here and having our head down, we're focused on executing continuously improving and taking advantage of the opportunities that the crisis can offer us. And so, as you think about our balance sheet position today, less than 2x net debt-to-EBITDA we're well positioned there for sure. And so looking ahead should a recession be there, or should the times get choppier? We're looking to get to the other side of that even stronger than we would enter that. Now, as we think about our 2023 guide, which I think, is what part of your question was trying to tease out, we feel good about our mid-single digit plus positioning there where for, for the long term, which we have talked about in a number of occasions. And when you unpack that a little bit, we see bioprocessing could be up high single digit and that's consistent with what we've spoken of. And as you look at bioprocessing, there we continue to think that the non-COVID business is going to be growing very strong. You saw what we're doing here in the second half of the year with growth rates, well, over 20% in non-COVID, and then we've also, de-risked the discussion here relating COVID related therapeutics and vaccines. We see $1 billion of revenue in 2022, and that's down from $2 billion in 2021. And we'd probably say $500 million for 2023. So 2021, $2 billion, 2022, $1 billion and 2023 $500 million for COVID-related vaccine. And having said all that, we still see our biotechnology business growing at high single digits. And that leads you then with COVID testing. And we've talked about that at length. We speak to our customers about that. They still think that COVID goes en”
Verify independently
SEC filings for DHR ↗ · Claim quote is verbatim from the 2022Q2 earnings call.