Summary of Waters Corporation Conference Call Company Overview - **Company**: Waters Corporation (NYSE: WAT) - **Event**: Jefferies 2023 Global Healthcare Conference - **Date**: June 8, 2023 - **Participants**: Udit Batra (CEO), Brandon Couillard (Jefferies) Key Points Industry and Market Demand - Instrument growth rate for Waters is expected to be around **5%** over the long term, driven by prescription volume and Phase III starts in the pharmaceutical sector [3][4][11] - The company emphasizes the importance of looking at long-term trends rather than short-term fluctuations, which can be misleading [3][11] - Historical fluctuations in instrument growth have been correlated with macroeconomic events, with notable declines observed during 2008-09, 2011-12, and 2019-20 [7][8][10] Factors Influencing Growth - Key drivers for growth include: 1. Increasing prescription rates and Phase III starts, particularly for novel modalities and large molecules [14] 2. Execution in instrument replacement and innovation [5][6] 3. Pricing strategies [5] - Current indicators suggest that these factors are more favorable than in the past [6][11] Regional Insights - China is projected to experience flat to low single-digit growth, with specific segments like CDMOs under pressure and pre-commercial biotech halted [49][51][52] - The academic and government sectors in China saw significant growth in Q1 but are expected to slow down in subsequent quarters [50] Recent Acquisition - Waters recently acquired Wyatt Technology, which focuses on large molecules and bioanalytical characterization [21][22] - The acquisition aims to enhance Waters' capabilities in faster-growing markets, particularly in the characterization of large molecules [22][27] Product Innovations - Waters has introduced several new products, including: - **Alliance iS**: A new platform aimed at reducing human errors in data submission by **40%** [39][42] - **Xevo TQ Absolute**: The most sensitive instrument for detecting PFAS at part per quadrillion levels [43][44] - The company is focused on expanding its portfolio in bioanalytical characterization, particularly for large molecules [32][33] Future Outlook and M&A Strategy - Waters is prioritizing organic growth and successful integration of Wyatt before pursuing additional M&A opportunities [30][31] - The company remains committed to capital allocation focused on growth, innovation, and potential future share buybacks [31][33] Use of Technology - Waters is leveraging generative AI tools to enhance internal data analysis and improve customer service through predictive analytics [55][56] Conclusion - Waters Corporation is positioned for steady long-term growth driven by strong demand in the pharmaceutical sector, successful integration of recent acquisitions, and ongoing product innovation. The company is cautious about short-term fluctuations and is focused on maintaining operational excellence and strategic growth initiatives.

Moderna, Inc. (NASDAQ:MRNA) Jefferies Global Healthcare Conference June 8, 2023 10:30 AM ET Company Participants Stephen Hoge - President Conference Call Participants Michael Yee - Jefferies Michael Yee Well, thank you, everyone, for joining us on our next session up here. I think our next guest needs no introduction. He's the President of Moderna, Stephen Hoge. It's good to be here with you. We just came away from ASCO. So, there's some cancer topics to discuss. I'm sure the audience would love to start of ...

Novavax, Inc. (NASDAQ:NVAX) Jefferies Global Healthcare Conference Call June 8, 2023 9:00 AM ET Company Participants Jim Kelly - Chief Financial Officer Filip Dubovsky - Chief Medical Officer Conference Call Participants Roger Song - Jefferies Roger Song Alright. Welcome, everyone. Day 2 2023 Jefferies Healthcare Conference. My name is Roger Song, one of the senior biotech analysts in the U.S. Next presenting company is Novavax. Welcome Filip and Jim. Jim Kelly Alright. Roger Song Alright. So this is a fire ...

Bristol-Myers Squibb Company (NYSE:BMY) Jefferies Healthcare Conference June 8, 2023 9:00 AM ET Company Participants Adam Lenkowsky - Chief Commercialization Officer Conference Call Participants Akash Tewari - Jefferies Akash Tewari All right. Good morning, everyone. Thank you for joining us Day Two of the Jefferies Healthcare Conference here in beautiful Times Square. For those who don't know me, my name is Akash Tewari. I'm a pharma biotech analyst here at Jefferies, and I have the pleasure of hosting Bri ...

Company and Industry Overview * **Company**: The Procter & Gamble Company (NYSE:PG) * **Industry**: Consumer Goods, specifically household and personal care products Key Points and Arguments * **Strong Results**: P&G reported strong organic sales growth of 7% over the past three quarters, despite challenging cost and operational environments. Core earnings per share were down 1%, offsetting nearly 28 points of cost and foreign exchange headwinds. * **Balanced Growth**: P&G aims to achieve balanced top and bottom line growth, focusing on volume, pricing, and mix. The company is committed to reigniting underlying category volume growth and investing in innovation and brand superiority. * **Superiority Strategy**: P&G emphasizes the importance of "superiority" across five vectors: product, package, brand communication, retail execution, and value. This strategy aims to deliver irresistible value to consumers and retail partners. * **Innovation and Productivity**: P&G is investing in innovation and productivity to overcome cost headwinds and drive sustainable growth. This includes initiatives such as Supply Chain 3.0, digital capabilities, and environmental sustainability efforts. * **Market Share and Value Share**: P&G has maintained or grown market share in many categories, with 31 of its top 50 category country combinations holding or growing share. The company also aims to grow value share across all price tiers. * **Dividend and Share Repurchases**: P&G has a strong track record of returning cash to shareholders through dividends and share repurchases. The company recently announced a dividend increase, marking the 67th consecutive year of dividend increases. Other Important Points * **Consumer Demand**: P&G believes consumer demand remains stable, with categories growing value at around 6% to 7%. The company is focused on executing innovation and pricing strategies to drive category growth and consumption. * **Trade-Down**: P&G acknowledges some trade-down within its brands, particularly in laundry and paper categories. However, the overall category remains strong, and the company is confident in its ability to manage this trend. * **Retail Partnerships**: P&G maintains constructive discussions with retail partners, focusing on supply chain collaboration and innovation to drive market growth. * **China**: P&G remains optimistic about the Chinese market, expecting mid-single-digit growth over time. The company is focused on adapting to the post-pandemic environment and driving innovation and growth in the region. * **Superiority and Premiumization**: P&G distinguishes between "superiority" and "premiumization," aiming to offer superior offerings at every price tier rather than focusing solely on premium products.

Automatic Data Processing, Inc. (NASDAQ:ADP) Baird’s 2023 Global Consumer, Technology and Services Conference Call June 8, 2023 8:30 AM ET Company Participants Don McGuire - Chief Financial Officer Conference Call Participants Mark Marcon - Robert W. Baird & Co. Mark Marcon Good morning, everybody. I'm Mark Marcon. I follow Human Capital Technology & Solutions for Baird. Our next presenting company is ADP. As I think, virtually everybody knows, ADP is the largest provider of payroll and HCM solutions, certa ...

The Coca-Cola Company (NYSE:KO) Annual Deutsche Bank Global Consumer Conference Call June 8, 2023 5:00 AM ET Company Participants John Murphy - President and Chief Financial Officer Conference Call Participants Steve Powers - Deutsche Bank Steve Powers Thank you for joining us. Thanks especially to The Coca-Cola Company for joining us here back in Paris at the conference. With us today is John Murphy, President and Chief Financial Officer. And thank you for being here. John Murphy Pleasure to be here, Steve ...

MongoDB, Inc. (NASDAQ:MDB) Annual William Blair Growth Stock Conference June 8, 2023 5:40 PM ET Company Participants Jason Ader - Equity Research Analyst, William Blair Conference Call Participants Michael Gordon - CFO & COO Serge Tanjga - SVP Finance Jason Ader All right. Good afternoon, everyone. Thanks for joining us in our last session here. Jason Ader from William Blair. I'm pleased to introduce Michael Gordon, COO and CFO of MongoDB; and Serge Tanjga, SVP of Finance. Before we begin, I'm required to i ...

Qualcomm Incorporated (NASDAQ:QCOM) Bank of America 2023 Global Technology June 7, 2023 7:00 PM ET CorporateParticipants Nakul Duggal - Senior Vice President & General Manager, Automotive ConferenceCall Participants Tal Liani - Bank of America Tal Liani I'm good. Thank you. Okay, thank you very much all for joining us. We put the best to the last, as we say, and we wanted to dig very deep into Qualcomm's auto business. And I'm very pleased to host Nakul Duggal from Qualcomm, I'm going to let -- I'm going to ...

Intel Corp (NASDAQ:INTC) Bank of America 2023 Global Technology Conference Call June 7, 2023 5:00 PM ET Company Participants Sandra Rivera - EVP & GM, Datacenter & AI Conference Call Participants Vivek Arya - Bank of America Merrill Lynch Vivek Arya Good afternoon, and welcome to this afternoon session. I'm Vivek Arya from the Bank of America semiconductor semi-cap equipment team. Really delighted and honored to have Sandra Rivera, Executive Vice President of Intel's Data Center and Artificial Intelligence ...