Thermo Fisher Scientific Inc. (NYSE:TMO) Q1 2024 Earnings Call Transcript

Luke Sergott: Yeah, okay. And then, Stephen, for you on the life science margins, so very, very strong here from Life Science Solutions. I understand that the destocking is less of an issue, but how much of this step-up in the quarter was from the restocking? Just kind of walk through and double click on the drivers there? And should we consider this as kind of the jump-off point or it will be around this range for the rest of the year or anything from a modeling perspective?

Stephen Williamson: So, Luke, the — that’s really good margin profile in the segment and that is really about addressing the cost base in that business given the lower volumes, both from the pandemic unwind and the kind of the bioproduction aspect to it. So, it’s really just fundamentally addressing the costs that we have in that business. Team has done a great job of doing that and that’s the way to think about that.

Marc Casper: So, thank you, Luke, and thanks everyone for the questions. Let me wrap up. Very pleased to deliver a very strong quarter, incredibly well positioned to deliver differentiated performance as we continue to create value for all of our stakeholders, build an even brighter future for our company. I look forward to updating you on our second quarter results in July and discussing our very bright future as well as outlook at our upcoming Investor Day on September 19. As always, thank you for your support for Thermo Fisher Scientific. Thanks, everyone.

Operator: Thank you. This concludes today’s call. Thank you all for joining. You may now disconnect your lines.