Bio-Techne Corporation (TECH) Q2 2023 Earnings Call Transcript

Bio-Techne Corporation (NASDAQ:TECH) Q2 2023 Earnings Conference Call February 2, 2023 9:00 AM ET

Company Participants

David Clair - Vice President of Investor Relations

Chuck Kummeth - Chief Executive Officer

Jim Hippel - Chief Financial Officer

Conference Call Participants

Puneet Souda - SVB Securities

Jacob Johnson - Stephens

Dan Arias - Stifel

Dan Leonard - Credit Suisse

Catherine Schulte - Baird

Patrick Donnelly - Citi

Justin Bowers - Deutsche Bank

Operator

Good morning, and welcome to the Bio-Techne Earnings Conference Call for the Second Quarter of Fiscal Year 2023. At this time, all participants have been placed in a listen-only mode, and the call will be open for questions following management’s prepared remarks. During our Q&A session, please limit yourself to one question and a follow-up.

I would now like to turn the call over to David Clair, Bio-Techne's Vice President, Investor Relations.

David Clair

Good morning and thank you for joining us. On the call with me this morning are Chuck Kummeth, Chief Executive Officer; and Jim Hippel, Chief Financial Officer of Bio-Techne. Before we begin, let me briefly cover our safe harbor statement.

Some of the comments made during this conference call may be considered forward-looking statements, including beliefs and expectations about the company's future results, as well as the potential impact of the COVID-19 pandemic on our operations and financial results. The company's 10-K for fiscal year 2022 identifies certain factors that could cause the company's actual results to differ materially from those projected in the forward-looking statements made during this call.

The company does not undertake to update any forward-looking statements because of any new information or future events or developments. The 10-K, as well as the company's other SEC filings, are available on the company's website within its Investor Relations section.

During the call, non-GAAP financial measures may be used to provide information relevant to ongoing business performance. Tables reconciling these measures to most comparable GAAP measures are available in the company's press release issued earlier this morning on the Bio-Techne Corporation website at www.bio-techne.com.

Separately, we will be presenting at the Citi, Cowen, Barclays and KeyBank health care conferences in March. We look forward to connecting with many of you at these upcoming conferences.

I will now turn the call over to Chuck.

Chuck Kummeth

Thanks, Dave, and good morning, everyone. Thank you for joining us for our second quarter conference call. In our second quarter of fiscal 2023, we delivered 4% organic growth on top of a challenging year-on-year comp, where we grew 17% in Q2 of last year.