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CLAIM #56136 · Thermo Fisher Scientific Inc (TMO) · 2022Q1 earnings call · Apr 28, 2022 · due Dec 31, 2022

We're looking at the back half of the year that Q3 and Q4 are normal in China, back to strong growth.

Marc Casper · CEO

PENDING
graded after results covering Dec 31, 2022 are reported

How to check this claim

Look at: Company-reported China revenue growth rate, Q3 and Q4 2022

It came true if: Q3 2022 and Q4 2022 China revenue growth both positive and consistent with 'strong growth' (>= high-single-digit % year-over-year)

Where: Company quarterly earnings release / management commentary on regional performance (Q3 and Q4 2022 earnings calls)

In context

just talk about what you're seeing there, which businesses are being affected more than others? Obviously we're seeing Beijing entering the conversation this week, I guess, what have you guys assumed there in terms of escalations or what's going to happen. And then again are certain businesses poised to recover more quickly than others. Just curious your perspective there. Marc Casper: Patrick, thanks for the question. So, the team really did an excellent job in Q1 navigating the lockdowns as started towards the end of the quarter to deliver double-digit growth and to really work with the government to be able to supply the critical products that we provide to the customer base there, even in difficult circumstances. Very impressive. What our assumption is actually fairly straightforward. We're looking at the back half of the year that Q3 and Q4 are normal in China, back to strong growth. And as you know, the business there rebounded super quickly after the Q1 of 2020 disruption. So the economy is there is quite resilient. Our assumption is in this quarter, there's a couple points of headwind. We're baking into the numbers because the number of the customers are closed. Academic institutions in Shanghai would be closed so that, it'll take, a period of time for that to rebound and as activity ramps back up. So that's how we're thinking about it in terms of the quarter. And we were able to fully bake that into our guidance and Stephen in the revenue phasing, views, try to make it clearer that what our outlook is for Q2, which is still quite good, but feels a little bit of that pressure and then Q3, Q4 picks up from there. Patrick Donnelly: Sure. That's helpful. Thanks Marc.

Verify independently

SEC filings for TMO · Claim quote is verbatim from the 2022Q1 earnings call.