CLAIM #20729 · DHR (DHR) · 2023Q4 earnings call · Jan 30, 2024 · due Dec 31, 2024
“I think we're going to be through that here in the first half, which then sort of speaks to why we think it gets a little bit better in the second half of the year.”
Matt McGrew · CFO
In context
“for the year for bioprocessing, you should probably think about the first quarter being down similar to what we saw in Q2, Q3, and Q4 last year call it north of 40%. And then I think for the full year, I just think even that will still be down kind of mid-teens for bioprocessing in China. That's sort of what we've got dialed in. And as far as the rest of the world, I think we'll be down in the first half and then kind of return to growth here in the second half after we get past the destocking. And I know you asked how much kind of inventory is in China. It's kind of hard to say, Dan. I mean we've got a kind of a moving target, but we've got a good sense that what we will largely be through most of the destocking, particularly in North America and Europe where it was probably the biggest. I think we're going to be through that here in the first half, which then sort of speaks to why we think it gets a little bit better in the second half of the year. Dan Brennan: Got it. Thanks, guys. And then maybe a follow-up just on bioprocessing. That's such a huge focus. Just in terms of the guide that you've laid out, what does that assume from kind of a book-to-bill or bookings trajectory as we work through the year? And just kind of related to that, several peers have already pointed to book-to-bills kind of above one. Obviously, everyone's order books are, mix of business is different. But what's kind of unique about your business, do you think? Is it clinical versus commercial, or is it just the size of your book or just any color? Why do you think some of the peers have seen the turn in their business faster than what you guys have seen? Thank you. Matt McGrew: Yes, let me give you a little bit of color on how I'm thinking about the guide o”
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SEC filings for DHR ↗ · Claim quote is verbatim from the 2023Q4 earnings call.