Teledyne Technologies Incorporated (NYSE:TDY) Q4 2023 Earnings Call Transcript

with the interest rates that we’re seeing. So we have to pay down about $600 million of debt this year. In some ways, it’s unfortunate because it’s fixed debt at less than 1%. But then we don’t have to pay down debt going in 2026. So we’ll have a lot of cash available to do things. So we think we’ll be okay.

Operator: [Operator Instructions] We have a follow-up from Joe Giordano, he’s representing TD Cohen.

Joe Giordano: Just wanted to ask on the pricing environment because I know you said before that maybe you took less — I mean, price was so strong for kind of everyone for a long time here. But I think in some areas, maybe in some of the vision products, you took less price than you probably could have to kind of maintain share. And just curious how the pricing environment has evolved since you made those comments and what you’re thinking how price is a part of your guidance for next year?

Robert Mehrabian : First point, backwards, in ’23, we had some nice price increases. I’m going to say broadly 2% to 3%, let’s say, 3%. We expect the same in ’24. In some areas, obviously, we were able to increase price more than 3%. But in some areas like government contracts that are not peak [indiscernible] the cost plus then you can increase prices as such. So I think 2% to 3% is what we’re looking at for ’24.

Operator: And we have no other participants queuing up at this time.

Steve Blackwood : Thank you very much, Tom. I’ll just have — I’ll ask Jason to please conclude our call.

Jason VanWees : Thanks, Robert. Again, thanks, everyone, for joining us this morning. And if you have follow-up questions, please feel free to call me at the number on the earnings release. And Tom, if you could give the replay information, just a conclusion, that would be the ideal.

Operator: One moment here. I pull that up — sorry about that. Ladies and gentlemen, this will be available for replay, if you can make one moment. It will be available for replay in an hour, and it will run through February 24 at midnight. You may access the AT&T replay service at any time by dialing (866) 207-1041 866-207-1041 and entering the access code of (459-0647)45-90647. And we thank you for your participation and using the AT&T Event Services. You may now disconnect.