Highlights include the Company’s Industry-Leading Businesses, Trusted Partner Status with Customers and Outstanding Long-Term Financial Outlook
Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, hosted its 2023 Investor Day today and provided an in-depth review of the Company’s proven growth strategy and its industry-leading businesses: Life Science Solutions, Analytical Instruments, Specialty Diagnostics and Laboratory Products and Biopharma Services.
“Science is advancing at a rapid rate and we continue to bring high-impact innovation, and unique insights to differentiate Thermo Fisher as the trusted partner to our customers,” said Marc N. Casper, chairman, president and chief executive officer. “As an incredibly well-positioned industry leader, we will continue to advance scientific discovery through our Mission to enable our customers to make the world healthier, cleaner and safer.”
Casper continued, “Our proven growth strategy and capital deployment approach, powered by our PPI Business System, create tremendous value for all stakeholders and position the company for a very bright future.”
At today’s event, Thermo Fisher Scientific highlighted:
Industry leadership in attractive and resilient end markets
- Thermo Fisher is the leader serving an attractive $240 billion market with long-term market growth of 4% to 6%.
Leading businesses offer best-in-class products and services
- Our industry-leading businesses are essential to the work our customers do and enable their success by accelerating their innovation and enhancing their productivity. Our businesses have an outstanding track record of value creation and a bright future.
Proven growth strategy drives share gain
- Thermo Fisher’s high-impact innovation, trusted partner status with industry-leading products, services and expertise, and an unparalleled commercial engine continue to uniquely position the company to drive meaningful share gain over the long-term.
Proven capital deployment approach creates tremendous value
- Thermo Fisher has a disciplined capital deployment strategy which is a combination of strategic M&A and returning capital to shareholders. Our proven M&A approach leverages rigorous selection criteria, disciplined decision-making and a strong integration process to better serve our customers and create value for our shareholders.
Practical Process Improvement PPI Business System enables outstanding execution
- PPI is at the core of Thermo Fisher’s culture, with a focus on continuous improvement that drives quality, productivity and customer allegiance and engages every colleague to find a better way, everyday. PPI delivers competitive advantage, enables successful integration of acquisitions and drives differentiated financial performance.
Mission-led ESG strategy drives competitive differentiation
- The company continues to differentiate itself by advancing its ESG strategy including innovating for a cleaner planet, investing in colleagues and communities, and driving impact and accountability. More details can be found in the most recent CSR Report.
Consistently delivering exceptional financial results with an outstanding long-term outlook
- Thermo Fisher’s proven growth strategy drives share gain. and its capital deployment approach creates tremendous value, positioning the company to deliver Core organic revenue growth of 7% to 9% and mid-teens adjusted EPS growth over the long-term.
To access the presentation materials from today’s investor event, visit the Company’s investor relations website at https://ir.thermofisher.com/investors/news-events/events. A replay will be posted after the event.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.
Safe Harbor Statement
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the duration and severity of the COVID-19 pandemic; the need to develop new products and adapt to significant technological change; implementation of strategies for improving growth; general economic conditions and related uncertainties; dependence on customers' capital spending policies and government funding policies; the effect of economic and political conditions and exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in governmental regulations; any natural disaster, public health crisis or other catastrophic event; and the effect of laws and regulations governing government contracts, as well as the possibility that expected benefits related to recent or pending acquisitions may not materialize as expected. Additional important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in our most recent annual report on Form 10-K and subsequent quarterly report on Form 10-Q, which are on file with the SEC and available in the “Investors” section of our website under the heading “SEC Filings.” While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.
Use of Non-GAAP Financial Measures
We use certain financial measures not prepared in accordance with generally accepted accounting principles, or GAAP, including adjusted EPS and Core organic revenue growth. These non-GAAP financial measures of Thermo Fisher’s results of operations are not meant to be considered superior to or a substitute for Thermo Fisher’s results of operations prepared in accordance with GAAP. Definitions of these non-GAAP financial measures and, for historical periods, a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in the “Investors” section of our website under the heading “Financials.” Thermo Fisher Scientific does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort items such as the timing and amount of future restructuring actions and acquisition-related charges as well as gains or losses from sales of real estate and businesses, the early retirement of debt and the outcome of legal proceedings. The timing and amount of these items are uncertain and could be material to Thermo Fisher Scientific's results computed in accordance with GAAP.