Danaher Corporation (NYSE:DHR) Q4 2022 Earnings Call Transcript

We’ve been in rate environments like this before. We’ve been in the rate environments that are worse. Last 10 or 12 years, obviously, had at close to zero was a very different time, but I don’t think we have fundamentally any changes here given where we’re at.

Patrick Donnelly: Alright. Thanks, Matt, thanks, Rainer.

Operator: Thank you. At this time, I would like to turn the call back over to John Bedford for any additional or closing remarks.

Rainer Blair: Well, first of all, thanks again, everybody. We are thrilled with the way we closed out 2022, and we see a strong 2023 ahead with all the numbers, maybe just a quick recap. For 2023, we see our base business growing at high single digits. And in the first quarter, we see that base business despite the fact that we’re working off some biotech and bioprocessing inventories at mid-single digits. Now we’ve talked at length about COVID testing and vaccine, therapeutic headwinds and I think those are real. But despite those headwinds, we feel great about the important role that we played in the pandemic. Keep in mind, we have reinvested COVID-related cash flows to create lasting annuities with acquisitions and breakthrough innovation while further strengthening our balance sheet.

And so, we exit the pandemic much stronger than we entered with higher growth and higher margins in our base business. So with that, we thank you for the call. Wish you all the best for 2023.

John Bedford: Thanks, everybody. We’re around for follow-ups all day. Thanks.

Operator: This concludes today’s call. Thank you for your participation. You may disconnect at any time.