CLAIM #20691 · DHR (DHR) · 2023Q3 earnings call · Oct 24, 2023 · due Dec 31, 2023
“But we do continue to expect our base business through the full year for bioprocessing to be down 10%, so as expected.”
Rainer Blair · CEO
In context
“you're seeing is consistent with that, but I was hoping maybe you can unpack a little bit of color on kind of what's going on in the order side for bioprocess and kind of what you're seeing in the field and kind of what this might portend as we think about looking out to 2024. Rainer Blair: Sure, Dan. Let's start off with Q3 one more time here. So, Q3 results were consistent with what we expected. But also I have to be clear that we have not seen an inflection in orders. And I would say that we're sort of at the bottom here, bouncing along. And to give you a sense of this quantitatively, from -- our book-to-bill was at around 0.8, which is consistent with what we've been seeing here for the last few quarters. And for Q4, we think that looks a lot like Q3 with likely similar book-to-bill. But we do continue to expect our base business through the full year for bioprocessing to be down 10%, so as expected. Matt McGrew: Hey, Dan, maybe just a little bit of other color, too, just to give some sense of what we saw. Orders in dollar terms were actually down a little Q3 versus Q2. And like Rainer said, the book-to-bill here has been at 0.8. It's been like that for six quarters. I think we anticipate that it will be like that in Q4 as well. And I think kind of another triangulation that I look at is kind of on a two-year stack here. Orders have been kind of, call it, down 32%, 33%, 34% here for the last three quarters. So, like Rainer said, I think we're looking at Q4, it looks a lot like Q3, but no real change here. Dan Brennan: Got it. Thanks, guys. And then maybe just one just kind of zooming out a little bit, if you could. Just any way -- any helpful way to think about -- obviously, we have Q”
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SEC filings for DHR ↗ · Claim quote is verbatim from the 2023Q3 earnings call.