The biotechnology, diagnostics, and life sciences company looks set to return to its long-term growth rate.Danaher's (DHR 7.12%) core revenue decline of 3.5% in the second quarter might not seem like anything to write home about. Still, as ever in investing, it's about context, and the company's earnings report shows that it's set to return to its long-term growth track.The good news encouraged investors to bid the stock up by more than 7% in trading before 10 a.m. ET today.Danaher beats guidanceAs you migh ...

Danaher Corporation (NYSE:DHR) Q2 2024 Earnings Conference Call July 23, 2024 8:00 AM ET Company Participants John Bedford - VP of IR Rainer M. Blair - President & CEO Matt McGrew - EVP & CFO Conference Call Participants Jack Meehan - Nephron Research Rachel Vatnsdal - J.P. Morgan Scott Davis - Melius Research Vijay Kumar - Evercore ISI Michael Ryskin - Bank of America Securities Daniel Brennan - TD Cowen Douglas Schenkel - Wolfe Research Tycho Peterson - Jefferies Operator Good morning. My name is Todd, an ...

Danaher (DHR) came out with quarterly earnings of $1.72 per share, beating the Zacks Consensus Estimate of $1.57 per share. This compares to earnings of $2.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.55%. A quarter ago, it was expected that this industrial and medical device maker would post earnings of $1.72 per share when it actually produced earnings of $1.92, delivering a surprise of 11.63%.Over the last four quar ...

Second Quarter 2024 Performance - Revenue decreased by 30% to $5743 million compared to $5912 million in Q2 2023[4, 5] - Core revenue declined by 35%[4] - Acquisitions contributed +20% to revenue[4] - Foreign exchange rates had a -15% impact on revenue[4] - Adjusted diluted net earnings per common share from continuing operations decreased by 06%[4] - Free cash flow performance decreased by 145%[6] - Adjusted operating profit margin increased by +60 BPS from 267% to 273%[6, 7] Segment Performance - Biotechnology revenue decreased by 90%, with core revenue down 70% and a 20% negative impact from FX[8] - Biotechnology adjusted operating profit margin increased by +20 BPS from 393% to 395%[8, 9] - Life Sciences revenue decreased by 15%, with core revenue down 55%, acquisitions contributing +60%, and a -20% impact from FX[10] - Life Sciences adjusted operating profit margin decreased by -360 BPS from 247% to 211%[10, 11] Forecasted Core Sales Decline and Adjusted Operating Profit Margin - The company forecasts a low-single digit percentage core sales decline for the three-month period ending September 27, 2024, compared to the comparable 2023 period[27] - The company forecasts a low-single digit percentage core sales decline for the year ending December 31, 2024, compared to the comparable 2023 period[27] - Adjusted operating profit margin is forecasted to be approximately 260% for the three-month period ending September 27, 2024[27] - Adjusted operating profit margin is forecasted to be approximately 290% for the year ending December 31, 2024[27]

Key Points - Danaher Corporation reported net earnings of $907 million for the quarter ended June 28, 2024, translating to $1.22 per diluted common share, with non-GAAP adjusted diluted net earnings per common share at $1.72 [1][5][11] - Revenues decreased by 3.0% year-over-year to $5.7 billion, with non-GAAP core revenue down 3.5% [1][11] - Operating cash flow was reported at $1.4 billion, while non-GAAP free cash flow was $1.1 billion [1][12] - The company expressed satisfaction with the performance of its bioprocessing business and Cepheid, indicating market share gains in molecular testing [1][3] - Danaher anticipates low-single digit declines in non-GAAP core revenue for both the third quarter and full year 2024 [1][11] Financial Performance - For the three-month period ended June 28, 2024, total sales were $5.743 billion, down from $5.912 billion in the same period last year [5][11] - Gross profit for the quarter was $3.428 billion, with operating profit at $1.168 billion [6][11] - The company reported a year-over-year decline in net earnings from continuing operations, which was $907 million compared to $920 million in the previous year [5][11] Segment Performance - The biotechnology segment experienced a sales decline of 9.0%, while life sciences and diagnostics segments saw declines of 1.5% and growth of 1.5%, respectively [11] - Core sales growth was reported as a decline of 3.5% for the three-month period, with a forecasted decline of low-single digits for the upcoming periods [11][12] Cash Flow Analysis - Total cash flow from continuing operations was $1.417 billion for the quarter, down from $1.646 billion year-over-year [12] - Free cash flow from continuing operations was reported at $1.131 billion, reflecting a decrease from $1.319 billion in the previous year [12]

Exhibit 99.1 Innovation at the speed of life Danaher Reports Second Quarter 2024 Results WASHINGTON D.C., July 23, 2024 -- Danaher Corporation (NYSE: DHR) (the "Company") today announced results for the quarter ended June 28, 2024. All results in this release reflect only continuing operations unless otherwise noted. Key Second Quarter 2024 Results • Net earnings were $907 million, or $1.22 per diluted common share and non-GAAP adjusted diluted net earnings per common share were $1.72. • Revenues decreased ...

Core Viewpoint - Danaher Corporation is expected to face a challenging quarter due to inventory destocking in the bioprocessing market, but the stock has already corrected significantly, indicating that most negatives are priced in. A medium to long-term recovery is anticipated starting in FY25, maintaining a buy rating on the stock [4]. Company Performance - The stock experienced a high single-digit percentage increase from April to mid-June but has since returned to previous levels [4]. - Earnings report is scheduled for July 23, with expectations of a downbeat quarter due to industry commentary and regulatory delays [4]. Market Conditions - The bioprocessing market has seen inventory destocking as companies reduce excess inventory built during COVID-19 supply chain constraints [4]. - Peers in the bioprocessing sector, such as Avantor and Sartorius AG, have provided negative commentary, indicating no signs of market recovery yet [4]. - Citigroup downgraded Avantor, citing concerns over elevated customer inventory levels [4]. Future Outlook - Expectations for DHR's earnings are low, suggesting limited downside risk [4]. - The second half of the year may shift investor focus towards 2025, with potential positive commentary expected from management regarding future outlook [4]. - The Chinese government's plans for equipment upgrades could benefit DHR's sales in 2H 2024 and beyond [4]. - A potential reversal in the interest rate cycle may encourage customer investments in equipment, supporting DHR's demand [4]. Legislative Impact - The BioSecure Act, if passed, could provide a competitive advantage to U.S. Medtech/Healthcare Equipment firms, benefiting DHR [4]. Financial Estimates - Consensus EPS estimates show growth accelerating from FY25, with projected EPS of 8.67 in Dec 2025, reflecting a 14.03% YoY growth [5]. - Revenue estimates indicate a decline in Dec 2024 to 23.84 billion, followed by growth to 25.82 billion in Dec 2025, representing an 8.29% YoY increase [6]. - The stock has traded at a historical forward P/E of 29.75x, and while current P/E is slightly higher, it is trading at a discount based on FY25 and FY26 EPS estimates [6].

Danaher Corporation (DHR) is scheduled to release second-quarter 2024 results on Jul 23, before market open.The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 8.6%. In the last reported quarter, its earnings of $1.92 per share beat the consensus estimate of $1.72 by 11.6%.Let’s see how things have shaped up for Danaher this earnings season.Key Factors and Estimates for Q2Strength in the molecular diagnostics business, driven by inc ...

DH Diagnostics LLC Centers aim to accelerate drug development by speeding and streamlining development and commercialization of companion diagnostics.Clinical Laboratory Improvement Amendments (CLIA) and College of American Pathologists (CAP)-certified laboratories will bring technologies and assays from multiple Danaher subsidiaries together under a single roof.WASHINGTON, July 17, 2024 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) ("Danaher"), a global science and technology innovator, announced the lau ...

Core Viewpoint - Danaher (DHR) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Outlook - The Zacks rating upgrade reflects an improvement in Danaher's earnings outlook, which is expected to positively impact its stock price [2]. - For the fiscal year ending December 2024, Danaher is projected to earn $7.63 per share, representing a year-over-year increase of 0.7% [5]. Earnings Estimate Revisions - Over the past three months, the Zacks Consensus Estimate for Danaher has increased by 0.1%, indicating a trend of rising earnings estimates [5]. - The correlation between earnings estimate revisions and near-term stock movements is strong, with institutional investors often adjusting their valuations based on these estimates [3][4]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating, indicating superior earnings estimate revisions [6][7]. - Stocks rated Zacks Rank 1 (Strong Buy) have historically generated an average annual return of +25% since 1988, showcasing the effectiveness of the Zacks Rank system [4].