“First, in terms of organic revenue growth we expect Q1 to be better sequentially than Q4 2023 by 1 to 2 points and then improve each quarter during the year.”

In context

“factor in $20 million of profit elimination related to minority interests. We're expecting between $1.3 billion and $1.5 billion of net capital expenditures in 2024, and we're assuming free cash flow is in the range of $6.5 billion and $7 billion for the year. In terms of capital deployment, our guidance assumes $3 billion of share buybacks, which, as I mentioned earlier, were already completed in January and we estimate the full year average diluted share count will be approximately 383 million shares. We're assuming that we'll return approximately $600 million of capital to shareholders this year through dividends, and we're assuming that we closed the acquisition of Olink by midyear. And finally, I wanted to touch on quarterly phasing for the year as there are a few things to consider. First, in terms of organic revenue growth we expect Q1 to be better sequentially than Q4 2023 by 1 to 2 points and then improve each quarter during the year. Implied in that is core organic revenue growth in Q1 similar to Q4 2023. And core organic revenue growth is also expected to improve each quarter during the year, leading to moderate growth in the second half of the year. From a margin standpoint, we expect Q1 to be just under 21% and increase each quarter throughout the year from that level. And we expect Q1 adjusted earnings per share to be approximately 22% of the full year. So in conclusion, we navigated the challenging environment in 2023 very successfully. We stepped up for our customers and delivered differentiated financial performance for our shareholders. We continue to manage the company with agility, and we're really well positioned for the year ahead. I look forward to updating you on our progress as we go through the year. W”