Douglas Schenkel's questions to Thermo Fisher Scientific Inc (TMO) leadership • Q3 2024
Question
Douglas Schenkel inquired which geographies, customer groups, or product categories were tracking ahead of or below initial 2024 expectations. He also asked if the company could see outsized margin improvement as revenue growth returns, given the strong cost discipline during a challenging period.
Answer
Marc Casper, CEO, stated that performance has tracked with 'incredible precision' to initial plans, with biotech funding improving and China being the main area that has not progressed as hoped. He highlighted the strong adoption of high-end analytical instruments as a positive. CFO Stephen Williamson acknowledged that as volumes return in businesses where costs were cut, there could be an incremental margin benefit, but framed the outlook within the company's long-term model.