Thermo Fisher Scientific Inc. (NYSE:TMO) Q3 2023 Earnings Call Transcript

Unidentified Analyst: Great. Thank you for the time and really appreciate you sharing all those framing thoughts for 2024. I have a couple of additional follow-ups on that but I’ll keep it to one. I know it’s not a bottoms-up view, but I’m curious how you’re thinking about the inventory effect either for your business or the market in 2024. In those areas where there’s been inventory burn-down in 2023, whether it be in bioproduction or the channels business or wherever you’re seeing it, what do you think is a reasonable assumption for 2024? Is it reasonable to assume the burn-down concludes and demand can match customer usage? Just any high-level thoughts. Thank you.

Marc Casper: So good question. When I think about the — it’s primarily a bioproduction story. And I don’t think anyone is smart enough to know exactly which quarter. But during 2024, do I think that we will get back to orders matching revenue at some point during the year? Yeah. So I think that we’ll be smarter with the benefit of another three months of time to see what our view is on 2024. But I don’t think we’ll be talking throughout the year about inventory reduction in the customer side because there’s activity that’s going on currently that’s consuming the inventory that’s out there. Great. So let me bring to just a quick wrap up for the call. Thank you for joining us today. We’re very well positioned to continue to deliver differentiated performance. And as always, thank you for your support of Thermo Fisher Scientific. We look forward to updating you in the new year.

Operator: That concludes today’s conference for everybody. Thank you very much for joining. You may now disconnect your lines. Have a great rest of your day.