Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, hosted its 2024 Investor Day today and provided an in-depth review of the company’s proven growth strategy and its industry-leading businesses, which consistently deliver best-in-class products and services that are essential to the work performed by its customers around the world.
“We serve very attractive end-markets that are fueled by enduring long-term trends. As an incredibly well-positioned industry leader, we continue to advance scientific discovery through our Mission to enable our customers to make the world healthier, cleaner and safer,” said Marc N. Casper, chairman, president and chief executive officer. “As the trusted partner to our customers, we deliver high-impact innovation, unique insights and have an outstanding track record of enabling their success.”
Casper continued, “We continue to deliver differentiated performance through our proven growth strategy and capital deployment approach, powered by our PPI Business System. We consistently create tremendous value for all stakeholders and position the company for a very bright future.”
At today’s event, Thermo Fisher Scientific highlighted:
- Incredibly well-positioned industry leadership, with leading businesses that enable our customers’ success
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Our industry-leading businesses are benefited by total company scale and capabilities.
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Our industry-leading businesses are benefited by total company scale and capabilities.
- Attractive end markets that are fueled by enduring long-term trends
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Thermo Fisher is the industry leader serving an attractive $235 billion market with long-term market growth of 4% to 6%.
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Thermo Fisher is the industry leader serving an attractive $235 billion market with long-term market growth of 4% to 6%.
- Proven growth strategy drives share gain
- High-impact innovation: enabling major scientific breakthroughs.
- The trusted partner to our customers: enabling customer success with an excellent reputation and credibility built over a long period of time.
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Unparalleled commercial engine: commercial advantage through deep engagement with customers wherever they are.
- Practical Process Improvement Business System (PPI) enables outstanding execution
- PPI is 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, every day.
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PPI delivers competitive advantage and drives differentiated financial performance.
- Delivering differentiated value creation for all our stakeholders
- Industry leading businesses have a long-standing track record of value creation.
- Disciplined approach to capital deployment, which consists of strategic M&A and returning capital to shareholders, enables us to better serve our customers and create tremendous value for our shareholders.
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Mission-led comprehensive CSR strategy delivers competitive advantage through our innovations for a cleaner planet, investments in colleagues and communities and our focus on impact and accountability. More details can be found in the most recent CSR Report.
- Outstanding track record of financial performance and an excellent 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 organic revenue growth of 7% to 9% and mid-teens adjusted EPS growth over the long term.
Webcast Replay
To access the presentation materials from today’s investor event, visit the Company’s investor relations website. 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 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 reports 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 are 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.
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