CLAIM #20678 · DHR (DHR) · 2023Q2 earnings call · Jul 25, 2023 · due Dec 31, 2023
“Now as we look forward for the remainder of 2023, we do see that and expect that to moderate somewhat. But we do expect to be above our historical averages here for the remainder of the year.”
Rainer Blair · CEO
In context
“he back half of the year? And then as a follow-up, just pricing on bioprocessing. For bioprocessing, it sounds like you took 350 basis points of pricing in 1Q. What was that pricing contribution in 2Q? And then how are you thinking about pricing evolving within bioprocessing in the back half of this year and also just heading into '24? Last year, you guys took 400 basis points of price in bioprocessing. Obviously, the industry is pretty dynamic right now. So any color there would be appreciated. Thank you. Rainer Blair: Rachel, overall, our pricing for the quarter, so overall banner, was up 350 basis points with all four segments remaining above the historical average. And specifically, you were talking about Life Science Instruments, there we saw in the quarter 450 basis points of price. Now as we look forward for the remainder of 2023, we do see that and expect that to moderate somewhat. But we do expect to be above our historical averages here for the remainder of the year. And as it relates to 2024, I think we'll come back to you on that as we get closer here to the end of the year. Operator: Okay. We'll take our final question from Luke Sergott with Barclays. Please go ahead. Rainer Blair: Good morning, Luke. Luke Sergott: Good morning. Thanks for squeezing me in here. This is just kind of - to follow up on Danny Brennan. I know you guys aren't going to give '24 given how everything is dynamic. But I think that the destocking is what it is, right? That's rolling off. That shouldn't be '24, but that sets up an easy comp. And so I was just trying to figure out right now what the industry demand is to support the type of overall industry growth. So typically, the market growth - the bioprocessing market is like high double to mid-teens, and that's in a normal”
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SEC filings for DHR ↗ · Claim quote is verbatim from the 2023Q2 earnings call.