Thermo Fisher Scientific Inc. (NYSE:TMO) TD Cowen 45th Annual Health Care Conference Call March 3, 2025 9:10 AM ET
Company Participants
Marc Casper – Chairman, President and Chief Executive Officer
Conference Call Participants
Daniel Brennan – TD Cowen
Daniel Brennan
Great. Well, welcome to the 45th Annual TD Cowen Healthcare Conference. I’m Dan Brennan, follow Tools and Diagnostics. Really pleased to be joined on stage here with Marc Casper, Chairman and President of Thermo Fisher Scientific.
Marc, welcome once again to the TD Healthcare Conference.
Marc Casper
Dan, thanks for having me, and great to see so many colleagues, investors, friends all in the audience today.
Question-and-Answer Session
Q – Daniel Brennan
Great. So in 2024, Marc, it was good to see the life science industry modestly improve through the course of the year. It appears in ’25, things will likely see ongoing progress. With Thermo Fisher posting good fourth quarter earnings and ’25 financial guidance, it would be great to have you kick it off with kind of a state of the union. So how did ’24 play out versus expectations? How did Thermo Fisher adapt to the market conditions? And how are you framing out the guide and the key drivers for this year?
Marc Casper
Yes. So Dan, when I think about last year, I’ll try to frame how the market is evolving, how do we perform, what’s the setup for ’25? And then we can — I’m sure we’ll have questions about the short-term environment that we’re navigating as well. So I think backdrop matters, right? ’23 was a difficult year for the industry. What we said at the beginning of ’24 was that the markets would improve sequentially each quarter. What was implied in our guidance was the markets would be down slightly for the year that we would continue to gain share. And what was really positive and actually, ’24 was
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