Marc, everyone. Thanks, good and morning,
As we in guide. assumed financials excellent and well the what QX our of press of our The you executed saw team quarter QX. was an significantly prior we in ahead midpoint had in delivered the release,
very we QX under ended growth by $X.X and free $X.XX, organic cash the strong adjusted X flow, year. for EPS with just beat We the delivering year points, billion by
we Looking as each The we year, year. growth back had out the quarter. of steadily a very beginning with markets outlined improving played 'XX, successful the at on
enabled gain System Our Business proven and growth the consistent share strategy great drove PPI execution.
to whilst this us leadership. of XXXX. to industry excellent us in differentiated year, performance financial deliver our consistently the This great deliver position a further all strengthening All enabled an throughout puts
to share. me provide full QX EPS some on details with now the grew additional Starting you year with Let $X.XX. earnings XXXX X% performance. and In our per adjusted quarter,
was it of full GAAP was $XX.XX. EPS the year, delivered the in for quarter the and, full we $X.XX $XX.XX. EPS year, adjusted For
reported reported grew The QX, revenue growth, and included change revenue a the increased X% exchange. contribution revenue headwind X% In line, top X% organic slight acquisitions core On X%. our from a from components organic of QX foreign year-over-year.
and XXXX, year year-over-year. revenue million and full of all comprised were In million the vaccines testing pandemic-related therapies. $XXX revenue reported million of and delivered $XXX For flat approximately XXXX, core organic of $XXX from we organic
Turning and digits. geography. digits, North performance low to grew grew digits, Europe grew by mid-single growing America revenue our mid-single Asia single with organic China QX, In high Pacific digits, single
and year-over-year, low North Europe was year, single America Asia digits. full declined the digits, grew Pacific and Asia Pacific flat within For low China single
we and operating income XX year. adjusted of QX $X.XX billion than the respect points of margin year-over-year, basis performance, an operating delivered last X% With increase XX.X%, quarter, in operational higher to our was adjusted
productivity, initiatives, this strategic the cost our investments and reflecting execution good quarter. to industry fund pull-through. In volume we our management quarter, and we of delivered continued to us expected leadership drove strong mix offset advance the This unfavorable further the of impact enabled
For full billion of higher year. delivered adjusted XXX Total income gross adjusted the margin margin basis was and year, operating in the quarter we XX.X%. $X.XX was last points XX.X%, company operating than QX adjusted
For was XXX XX.X%, an XXXX. margin basis points full year, adjusted of the gross versus increase
of SG&A the of on Moving the the Adjusted revenue. details P&L. to XX.X% in was quarter
QX. was of adjusted year, R&D SG&A million full XX.X% was revenue. Total the in expense For $XXX
a ongoing reflecting expense of in year manufacturing was our high-impact as was revenue billion, for year, R&D up X.X%. year-over-year, our X% full investments the innovation. the full For percent $X.XX R&D
Looking line. at the results below our
net QX by our for strong QX slightly million, was million, higher management Net of flow. portfolio Our a effective debt million interest expense XXXX. $XXX full cash our $XXX the was $XX year interest year-over-year, decrease driven and than of expense
The and in year, in adjusted full XX.X% the XX.X% line with expectations. rate for was our QX tax
QX, Average $X $X XXXX we bringing million shares total X option of lower repurchased diluted billion for to our shares, repurchases in repurchases were net of driven In dilution. year-over-year, by QX, billion. share XXX million
investing was billion to of was free cash billion, and after capital flow and flow flow from cash cash billion Full sheet. the expenditures. $X.X $X.X balance net operations free Turning $X.X year
with $X buybacks through and During of of $X.X of M&A deployed acquisition billion capital, $XXX of the capital XXXX dividends. Olink billion of $X.X approximately billion billion through to shareholders $X.X return and the we million the of form in
total billion cash of investments We and billion with and in quarter ended the $XX.X short-term $X.X debt.
adjusted debt on leverage the to gross end quarter debt at ratio and EBITDA of the net Our was X.Xx a X.Xx basis.
total reflecting on In concluding adjusted ROIC across returns performance, generating we're company. my XX.X%, company was investment our comments on that strong the the
biosciences segments, X%. Sciences performance provide driven by X% segment some in starting this with and X growth organic was bioproduction Solutions. the revenue Growth on color business segment revenue in this Now of our QX reported grew our and businesses. Life was
For reported year, the versus declined was XXXX. revenue full X% organic and revenue lower X%
and quarter. year up Solutions basis operating adjusted operating QX income X%, the XX.X%, for points margin adjusted Sciences versus Life increased XX prior was
and pull-through, During QX, we delivered by offset investments. which strong productivity and strategic was partially good mix unfavorable volume
For the XXX adjusted X%, increased operating operating was full versus year, income and points basis adjusted margin of XX.X%, an XXXX. increase
reported revenue strong revenue electromicroscopy In was quarter by led segment, Analytical was mass chromatography The spectrometry organic the grew and X% X%. the growth and businesses. in Instruments and growth
revenue For year, full revenue X%. reported organic both and the grew
favorable and mix up operating QX points income had we margin increased XX% investments. and adjusted basis was the FX. This In year-over-year. strategic XXX In by adjusted and XX.X%, strong was quarter, delivered productivity this unfavorable operating and offset volume segment, partially pull-through good
XX.X%, and X% increased income operating than adjusted lower adjusted XX year, operating XXXX. points full the basis For margin was
QX, as care reported transplant QX, immunodiagnostics grew in diagnostics revenue Turning revenue X%. organic market and led health Diagnostics, In was and our segment this by growth to in channel. as businesses Specialty well both
For the revenue organic was full and X% year, X%. revenue increased reported growth
QX adjusted XX.X%, operating QX operating basis Diagnostics X% for Specialty and margin increased than XX income points XXXX. adjusted lower was
strategic we quarter, delivered the than good more offset is by productivity, investments. which During
was year. adjusted XXXX XX higher an income operating operating year, the of than full points For and XX.X%, the was adjusted versus margin X% basis increase prior
QX. was the services grew a in growth impact Biopharma quarter. This channel. and The segment organic of And Products revenue runoff growth very on by in revenue and segment, therapies revenue Laboratory this and year business finally, both good Services offset X% in our reported mid-single-digit safety the versus pharma in research had prior vaccines and and market
flat. the full grew revenue and year, reported X% was For revenue organic
segment, is this strong we increased X%, productivity, XXXX. which was and adjusted is to margin which strategic delivered In and mix. adjusted flat operating quarter, QX investments QX by operating unfavorable XX%, the In offset income
income margin versus was XXX year, lower adjusted full and XXXX. operating X% which adjusted points the declined is operating For XX.X%, basis
to guidance. now Turning
revenue on XX to range guidance $XX.X X% to $XX.XX a X% initiating As Marc a guidance revenue of X.X% and of points we're and $XX.XX. guidance revenue to billion adjusted $XX and billion, runoff outlined, of This range EPS X% an XXXX adjusted organic headwind exchange the headwind the growth pandemic-related basis from foreign revenue from remaining expansion. margin of approximately assumes operating
in will adjusted EPS. All enable of this growth X% X% strong really to a
proven growth and our The industry-leading the reflects our Business of our strength position, of PPI guidance System. strategy power the
industry guide, we growth down we digits. than detailed low XXXX, XXXX, now me will In context market estimate growth Let the In market market with expect starting the the some growth better XXXX. behind the was single framing. more provide be
market improving slightly We progresses. year growth the the as year, for expect will be positive
share to market range a context of organic X%. With growth be we this very the expect gain, and XXXX strong for X% in to
earlier, includes pandemic in from research Now as headwind I a the of remainder business. largely clinical commented runoff, X% our this the
company total So strong. is the growth underlying
FX. to Turning
Given recent from approximately changes will assuming of or X.X FX be there in million rates, from XXXX points. we're headwind revenue in $XXX a
Putting all to organic and to revenue. top this assumes from This increase XXXX. X.X% our revenue in together, dollars increase is X% a reported in step-up a strong a X.X% X% guidance line
to line. the bottom on Moving
base. of very and use operating points. revenue basis actively System productivity growth, cost very actions incremental the pull-through adjusted are year expect we deliver enabling the past expansion PPI growth our adjusted the of XXXX. EPS strong to manage continue a on of margin We and cost XX enable This accretive to to took approximately of strong in we dollars The Business very years drive couple will over will
to positions advantage all which interest of range deposits. very $XX.XX to this line, growth rates cash And of us the strong effectively and $XX.XX, year. managing adjusted taking EPS is a and and of cash great will for we're in enable from the X% X% deliver the Below debt our
in environment, to assumed is the In terms cover guidance the our potential changes. impact of changes macro modest policy of
help assumptions And with the your you few additional modeling, then here behind guide. to a are
billion adjusted that $XXX by expenditures between $X.X increased expecting net expense XXXX. We're cash billion expect of billion driven the of range year. net XXXX. $X assume will to $X.X for XX.X% in interest the billion assuming in income million free the be We $X.X earnings. the and We largely XXXX, capital approximately is we're rate of in And in flow tax
of completed buybacks, in of assuming average we we're XXX year And year of million already return dividends. January. terms the count share assuming which million capital share to $X In XXX this be and And we're were diluted billion approximately to shareholders through capital million deployment, between estimate full will $XXX shares.
largely in phasing also is And year. finally, I flat X is touch Embedded wanted EPS services the the QX, driven to within the our the organic assumption is in in growth of than prior the This for QX. phasing quarter is revenue by days for year that QX QX. an growth year on guidance as less selling having adjusted and
a successful So in XXXX. off conclusion, capped QX very
company on the We the the we growth expect forward and excellent through you 'XX really a I year. share adjusted delivering EPS our gains manage performance. progress enabling in well as updating and very go continue and opportunities to financial to to look strong on focus
I'll that, to the With back Raf. call turn over