Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Danaher performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: View all Key Company Metrics for Danaher here>>> Danaher (DHR) reported $5.94 billion in revenue for the quarter ended June 2025, representing ...

Financial Data and Key Metrics Changes - The company reported sales of $5.9 billion in the second quarter, achieving a 1.5% core revenue growth year over year [12] - Gross profit margin for the quarter was 59.3%, while the adjusted operating profit margin remained flat at 27.3% year over year [13] - Adjusted diluted net earnings per share increased approximately 5% year over year to $1.8 [13] - Free cash flow generated in the quarter was $1.1 billion, with a year-to-date free cash flow to net income conversion ratio of 143% [13] Business Line Data and Key Metrics Changes - In the biotechnology segment, core revenue increased by 6%, with bioprocessing up in the high single digits, while discovery and medical revenue declined in the low single digits [17] - The life sciences segment saw a core revenue decrease of 2.5%, with clinical and applied markets holding steady, but academic and government demand remained weak [19] - The diagnostics segment experienced a core revenue increase of 2%, with clinical diagnostics up low single digits and Cepheid's non-respiratory revenue growing double digits [20][23] Market Data and Key Metrics Changes - Core revenues in developed markets grew low single digits, with North America slightly up and Western Europe showing a high single-digit increase [12] - Core revenues in high growth markets were flat overall, with solid performance outside of China offset by a mid single-digit decline in China [12] - Demand in China improved due to stimulus-related funding, translating into new customer orders and revenue [20][98] Company Strategy and Development Direction - The company is focused on protecting its financial and competitive positioning while investing in long-term innovation [11] - The strategy includes addressing structural costs and enhancing the portfolio through significant investments in growth initiatives [11][25] - The company anticipates high single-digit growth in bioprocessing for both 2025 and the long term, supported by a robust pipeline of therapies in development [35][81] Management's Comments on Operating Environment and Future Outlook - Management noted that global trade tensions have created uncertainty, but market conditions in the second quarter were consistent with the first quarter [9] - The macro environment remains fluid, but the company is focused on controllable factors to deliver for customers and shareholders [10] - For the full year 2025, the company expects core revenue growth of approximately 3% and has raised its adjusted diluted net EPS guidance to a range of $7.7 to $7.8 [24] Other Important Information - The company announced a CFO succession plan, with Matt Gagino set to succeed Matt McGrew as CFO in February [6][8] - The company highlighted several new product launches aimed at improving quality and efficiency in drug development and diagnostics [14][15][16] Q&A Session Summary Question: Can you provide more details on bioprocessing order trends? - Management indicated that consumables showed low double-digit growth driven by commercial demand, while equipment orders remain below historical trends due to trade policy uncertainties [34] Question: How are global trade tensions affecting orders? - Management noted that trade uncertainty is impacting decision-making in pharma, but they expect this overhang to clear in the next six to twelve months [38] Question: What are the assumptions for bioprocessing guidance? - Management confirmed that high single-digit growth is still expected for bioprocessing, with pricing remaining stable and volume pacing expected to step down in Q3 [44][46] Question: Are there any incremental headwinds from volume-based procurement? - Management stated that there were no changes to expectations regarding volume-based procurement impacts, maintaining a $150 million adverse impact for 2025 [72] Question: What is the outlook for the China market? - Management reported that the China business outside diagnostics is firming up, with slight growth in bioprocessing and improved activity levels in biotech and pharma [98]

Financial Data and Key Metrics Changes - Sales for the second quarter were $5.9 billion, with a core revenue growth of 1.5% year over year [11] - Gross profit margin was 59.3%, and adjusted operating profit margin was 27.3%, flat year over year [12] - Adjusted diluted net earnings per share were $1.8, up approximately 5% year over year [12] - Free cash flow generated in the quarter was $1.1 billion, with a year-to-date free cash flow to net income conversion ratio of 143% [12] Business Line Data and Key Metrics Changes - Core revenue in the biotechnology segment increased by 6%, with bioprocessing up high single digits [16] - Life sciences segment core revenue decreased by 2.5%, with clinical and applied markets holding up well globally [18] - Diagnostics segment core revenue increased by 2%, with notable growth in clinical diagnostics outside of China [20] Market Data and Key Metrics Changes - Core revenues in developed markets were up low single digits, with North America slightly up and Western Europe up high single digits [11] - Core revenues in high growth markets were flat overall, with a mid single-digit decline in China [11] - Demand in China improved due to stimulus-related funding, translating into new customer orders and revenue [19] Company Strategy and Development Direction - The company is focused on delivering for customers while managing costs and investing in long-term growth initiatives [10] - Continued investment in innovation is emphasized, with several new product launches aimed at improving quality and efficiency [13][15] - The company maintains a strong balance sheet and free cash flow generation to enhance its portfolio [10][24] Management's Comments on Operating Environment and Future Outlook - Management noted that global trade tensions have created uncertainty, but market conditions were generally consistent with the first quarter [8] - The company expects core revenue growth of approximately 3% for the full year 2025, with adjusted diluted net EPS guidance raised to a range of $7.7 to $7.8 [23] - Management remains focused on navigating a complex macro environment while leveraging the Danaher Business System for continued strong results [24] Other Important Information - The CFO succession plan was announced, with Matt Gagino set to succeed Matt McGrew as CFO in February [5][6] - The company is addressing structural costs while continuing to invest in innovation for long-term growth [10] Q&A Session Summary Question: Can you provide more details on bioprocessing order trends? - Management indicated that consumables showed low double-digit growth driven by commercial demand, while equipment orders remain below historical trends [32][34] Question: How are global trade tensions affecting orders? - Trade uncertainty is causing delays in decision-making, particularly in pharma, but management expects this to clear in the next six to twelve months [36] Question: What are the assumptions for bioprocessing guidance? - High single-digit growth is still expected for bioprocessing, with pricing assumptions remaining stable [44][46] Question: Is the structural cost reduction plan complete? - Management is confident in achieving the targeted $150 million in structural cost reductions, with about half already realized [53] Question: How is the company viewing the biotech market? - The biotech market is currently at lower activity levels, but management sees AI as a potential tailwind for future growth [55] Question: What is the outlook for respiratory revenue? - The company maintains a respiratory revenue guide of $1.7 billion, with expectations for continued strong performance in non-respiratory segments [115]

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Danaher shares have lost about 18.1% since the beginning of the year versus the S&P 500's gain of 7.2%. Danaher (DHR) came out with quarterly earnings of $1.8 per share, beating the Zacks Consensus Estimate of $1.64 per share. This compares to earnings of $1.72 per share a year ago. These figures are adjusted fo ...

Second Quarter 2025 Performance - Revenue increased to $5,936 million in Q2 2025, a 3.5% increase compared to $5,743 million in Q2 2024[5] - Core revenue growth was 1.5% and FX contributed 2.0% to revenue growth[5] - Adjusted diluted net earnings per common share increased by 4.7% to $1.80 in Q2 2025, compared to $1.72 in Q2 2024[5] - Adjusted operating profit margin remained flat at 27.3% in both Q2 2024 and Q2 2025[5] Segment Performance (Q2 2025) - Biotechnology revenue increased by 8.0% to $1,850 million, with core growth of 6.0% and FX contributing 2.0%[8] Adjusted operating profit margin increased by 150 BPS to 41.0%[8] - Life Sciences revenue increased slightly by 0.5% to $1,777 million, with core revenue declining by 2.5%, acquisitions contributing 1.5%, and FX contributing 1.5%[10] Adjusted operating profit margin decreased by 180 BPS to 19.3%[10] - Diagnostics revenue increased by 2.0% to $2,309 million, with core growth of 2.0%, divestitures reducing revenue by 0.5%, and FX contributing 0.5%[12] Adjusted operating profit margin decreased by 60 BPS to 26.1%[12] Guidance - The company forecasts low-single digit core sales growth for the three-month period ending September 26, 2025, compared to the same period in 2024[26] - The company forecasts 3.0% core sales growth for the year ending December 31, 2025, compared to 2024[26] - Adjusted operating profit margin is expected to be approximately 25.5% for the three-month period ending September 26, 2025[26] - Adjusted diluted net earnings per common share are projected to be between $7.70 and $7.80 for the year ending December 31, 2025[26] Cash Flow - Net cash provided by operating activities decreased by approximately 5.5% to $1,338 million for the three-month period ended June 27, 2025, compared to $1,417 million for the same period in 2024[52] - Free cash flow decreased by approximately 3.5% to $1,094 million for the three-month period ended June 27, 2025, compared to $1,131 million for the same period in 2024[52]

WASHINGTON, July 22, 2025 /PRNewswire/ -- Danaher Corporation (NYSE: DHR), a leading global life sciences and diagnostics innovator, today announced that Matthew Gugino, currently Group Chief Financial Officer of the Company's Life Sciences Innovations Group and Vice President of Financial Planning & Analysis, will succeed Matthew McGrew as Danaher's Chief Financial Officer effective February 28th, 2026. Following the transition and consistent with past practice, Mr. McGrew will continue thereafter as an Ex ...

Core Insights - Danaher Corporation reported strong second quarter results, driven by effective execution of the Danaher Business System and growth in the Bioprocessing segment [2][4] - The company anticipates continued growth in core sales and adjusted diluted net earnings for the remainder of 2025, despite a fluid macro environment [2][4] Financial Performance - For the second quarter of 2025, net earnings were $555 million, or $0.77 per diluted common share, with non-GAAP adjusted diluted net earnings per common share at $1.80 [9][12] - Revenues increased by 3.5% year-over-year to $5.9 billion, while non-GAAP core revenue grew by 1.5% [9][18] - Operating cash flow was reported at $1.3 billion, with non-GAAP free cash flow at $1.1 billion [9][20] Future Outlook - The company expects non-GAAP core revenue growth of low-single digits for the third quarter of 2025 and approximately 3% for the full year [4][18] - Adjusted diluted net earnings per common share guidance has been raised to a range of $7.70 to $7.80 for the full year, up from the previous range of $7.60 to $7.75 [4][18] Segment Performance - Total sales growth for the company was 3.5%, with the Biotechnology segment growing by 8.0%, while Life Sciences experienced a slight increase of 0.5% [18] - Core sales growth varied by segment, with Biotechnology at 6.0%, Life Sciences declining by 2.5%, and Diagnostics growing by 2.0% [18] Cash Flow and Investments - The net cash provided by operating activities was $1.338 billion, with total cash used in investing activities at $258 million [20] - Free cash flow for the quarter was reported at $1.094 billion, demonstrating the company's ability to generate cash after capital expenditures [20]

[Q2 2025 Earnings Release Overview](index=1&type=section&id=Danaher%20Reports%20Second%20Quarter%202025%20Results) Danaher reported strong Q2 2025 results with $5.9 billion revenue and $1.80 adjusted EPS, driven by Bioprocessing growth, and updated full-year guidance [Financial & Operational Highlights](index=1&type=section&id=Key%20Second%20Quarter%202025%20Results) Danaher exceeded Q2 2025 expectations with 3.5% revenue growth to $5.9 billion and $1.80 adjusted diluted EPS, driven by Bioprocessing - CEO Rainer M. Blair credited the strong quarterly performance to the Danaher Business System, robust growth in the Bioprocessing business, and disciplined cost management[2](index=2&type=chunk) Q2 2025 Key Financial Metrics | Metric | Value | YoY Change | | :--- | :--- | :--- | | Revenues | $5.9 billion | +3.5% | | Non-GAAP Core Revenue | - | +1.5% | | Net Earnings | $555 million | - | | Diluted EPS (GAAP) | $0.77 | - | | Adjusted Diluted EPS (Non-GAAP) | $1.80 | - | | Operating Cash Flow | $1.3 billion | - | | Free Cash Flow (Non-GAAP) | $1.1 billion | - | [Business Outlook for Q3 and Full Year 2025](index=1&type=section&id=Third%20Quarter%20and%20Full%20Year%202025%20Outlook) Danaher projects low-single-digit core revenue growth for Q3 2025, maintains 3% full-year core revenue outlook, and raises full-year adjusted diluted EPS guidance to $7.70-$7.80 - For Q3 2025, the company anticipates non-GAAP core revenue to grow in the low-single digits year-over-year[4](index=4&type=chunk) - The full-year 2025 non-GAAP core revenue growth expectation remains unchanged at approximately **3%** year-over-year[4](index=4&type=chunk) - The company increased its full-year 2025 adjusted diluted net earnings per common share guidance to a new range of **$7.70 to $7.80**, up from the previous guidance of $7.60 to $7.75[4](index=4&type=chunk) [Financial Statements](index=3&type=section&id=Financial%20Statements) This section presents unaudited Consolidated Condensed Statements of Earnings for Q2 and H1 2025, detailing sales, costs, and net earnings [Consolidated Condensed Statements of Earnings](index=3&type=section&id=CONSOLIDATED%20CONDENSED%20STATEMENTS%20OF%20EARNINGS) Danaher's Q2 2025 sales rose to $5.94 billion, but increased SG&A led to a decline in operating profit to $760 million and net earnings to $555 million Q2 Financial Performance Comparison ($ in millions) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Sales | $5,936 | $5,743 | | Gross Profit | $3,523 | $3,428 | | Operating Profit | $760 | $1,168 | | Net Earnings | $555 | $907 | | Diluted EPS | $0.77 | $1.22 | First Half Financial Performance Comparison ($ in millions) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Sales | $11,677 | $11,539 | | Gross Profit | $7,034 | $6,915 | | Operating Profit | $2,034 | $2,480 | | Net Earnings | $1,509 | $1,995 | | Diluted EPS | $2.10 | $2.68 | [Non-GAAP Financial Measures & Reconciliations](index=4&type=section&id=RECONCILIATION%20OF%20GAAP%20TO%20NON-GAAP%20FINANCIAL%20MEASURES) This section reconciles GAAP to non-GAAP financial measures, including EPS, sales growth by segment, and free cash flow, explaining their utility for investors [Reconciliation of GAAP to Non-GAAP EPS](index=4&type=section&id=Diluted%20Net%20Earnings%20Per%20Common%20Share%20and%20Adjusted%20Diluted%20Net%20Earnings%20Per%20Common%20Share) Danaher reconciles Q2 2025 GAAP Diluted EPS of $0.77 to Non-GAAP Adjusted Diluted EPS of $1.80, primarily due to amortization and impairment charges Q2 2025 EPS Reconciliation (GAAP to Non-GAAP) | Description | Per Share Amount | | :--- | :--- | | **Diluted Net Earnings Per Common Share (GAAP)** | **$0.77** | | Amortization of acquisition-related intangible assets | $0.59 | | Fair value net losses on investments | $0.06 | | Impairments | $0.60 | | Tax effect of adjustments & discrete tax items | ($0.23) | | **Adjusted Diluted Net Earnings Per Common Share (Non-GAAP)** | **$1.80** | - Impairment charges in Q2 2025 included a **$432 million** pretax charge related to a trade name in the Life Sciences segment[20](index=20&type=chunk) [Sales Growth by Segment](index=5&type=section&id=Sales%20Growth%20(Decline)%20by%20Segment%20and%20Core%20Sales%20Growth%20(Decline)%20by%20Segment) Q2 2025 saw Biotechnology lead with 8.0% total sales growth, while Life Sciences experienced a core sales decline, contributing to 3.5% total company sales growth Q2 2025 % Sales Growth vs. Q2 2024 | Segment | Total Sales Growth (GAAP) | Core Sales Growth (Non-GAAP) | | :--- | :--- | :--- | | Biotechnology | 8.0% | 6.0% | | Life Sciences | 0.5% | (2.5)% | | Diagnostics | 2.0% | 2.0% | | **Total Company** | **3.5%** | **1.5%** | H1 2025 % Sales Growth vs. H1 2024 | Segment | Total Sales Growth (GAAP) | Core Sales Growth (Non-GAAP) | | :--- | :--- | :--- | | Biotechnology | 7.0% | 6.5% | | Life Sciences | (1.5)% | (3.5)% | | Diagnostics | (0.5)% | 0.0% | | **Total Company** | **1.0%** | **1.0%** | [Cash Flow Reconciliation](index=6&type=section&id=Cash%20Flow%20and%20Free%20Cash%20Flow) Danaher's Q2 2025 operating cash flow was $1.34 billion, resulting in non-GAAP free cash flow of $1.09 billion after capital expenditures Free Cash Flow Calculation ($ in millions) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities (GAAP) | $1,338 | $1,417 | | Less: Capital expenditures (GAAP) | ($248) | ($287) | | Plus: Capital disposals (GAAP) | $4 | $1 | | **Free cash flow (non-GAAP)** | **$1,094** | **$1,131** | [Statement Regarding Non-GAAP Measures](index=7&type=section&id=Statement%20Regarding%20Non-GAAP%20Measures) Management uses non-GAAP measures like core sales and adjusted EPS to assess performance and profitability by excluding volatile items for consistent comparisons - Management uses non-GAAP measures to assess operating performance, understand long-term profitability trends, identify underlying growth, and evaluate the ability to generate cash[28](index=28&type=chunk)[29](index=29&type=chunk) - Key items excluded from non-GAAP measures include amortization of acquisition-related intangible assets, discrete restructuring charges, currency translation effects, and the impact of acquisitions and divestitures to facilitate more consistent comparisons[29](index=29&type=chunk) [Other Information](index=1&type=section&id=Other%20Information) This section provides details for the investor conference call and webcast, alongside the standard forward-looking statements disclaimer [Conference Call and Webcast Information](index=1&type=section&id=Conference%20Call%20and%20Webcast%20Information) An investor conference call and webcast are scheduled for July 22, 2025, at 8:00 a.m. ET to discuss Q2 results and guidance - An investor conference call to discuss Q2 results and guidance is scheduled for **8:00 a.m. ET** on the day of the release[5](index=5&type=chunk) - Webcast, presentation slides, and replay information are available on the 'Investors' section of Danaher's website[5](index=5&type=chunk)[6](index=6&type=chunk) [Forward-Looking Statements](index=2&type=section&id=FORWARD-LOOKING%20STATEMENTS) This legal disclaimer cautions that forward-looking statements, including financial guidance, are subject to significant risks and uncertainties that could alter actual results - The release contains forward-looking statements, including financial guidance for Q3 and the full year 2025, which are not guarantees of future performance[12](index=12&type=chunk) - A number of factors could cause actual results to differ materially, including global economic conditions, competition, ability to integrate acquisitions, and geopolitical risks[12](index=12&type=chunk)

Core Insights - Danaher Corporation (DHR) is set to release its second-quarter 2025 results on July 22, before market open [1] Revenue Estimates - The Zacks Consensus Estimate for revenues is $5.84 billion, reflecting a 1.6% increase from the same quarter last year [2] - The consensus estimate for earnings is $1.64 per share, indicating a 4.7% decrease from the year-ago quarter [2] Segment Performance - The Life Sciences segment is expected to see a revenue decline of 3.4% to $1.71 billion due to weak demand in protein consumables, flow cytometry, and lab automation solutions [3] - The Biotechnology segment is projected to grow by 7% to $1.83 billion, driven by increased demand for bioprocessing consumables from large pharmaceutical customers [5] - The Diagnostics segment is anticipated to increase by 1.1% to $2.29 billion, supported by solid momentum in pathology and acute care diagnostics [6] Cost and Expenses - SG&A expenses are expected to rise by 5.8% to $1.55 billion, which may negatively impact the bottom line [4] - Foreign currency headwinds are likely to affect profitability due to significant international operations [4] Recent Developments - Danaher acquired Abcam plc in December 2023, enhancing its Life Sciences segment with a strong product portfolio and innovation capabilities [7] Earnings Prediction - The Earnings ESP for DHR is 0.00%, indicating no clear prediction for an earnings beat this quarter [9] - The company currently holds a Zacks Rank of 4 (Sell) [11]

Group 1: Core Insights - Shanghai is progressively building capabilities in the field of cell and gene therapy (CGT) drug research and manufacturing services, with advancements from CAR-T therapy to RNA therapies [1][2] - The collaboration between Zhengxu Bio and Danaher’s Sartorius focuses on the development of cell and gene therapy processes, leveraging Zhengxu's base editing technology for more precise treatments [1][2] - Zhengxu Bio has reportedly cured nearly 20 cases of β-thalassemia and sickle cell anemia globally using its base editing technology [1] Group 2: Industry Trends - In June, the National Medical Products Administration (NMPA) accepted applications for 11 CGT drugs, including 5 immune cell drug applications for acute B lymphoblastic leukemia and solid tumors [2] - As of the end of 2020, there were 1,306 CGT projects in clinical stages globally, indicating a growing interest and investment in this sector [2] Group 3: Role of CXO Services - CXO service providers are crucial in enhancing efficiency and reducing costs for technology developers in the CGT field, particularly in drug delivery systems and quality control [2][3] - The involvement of CXO services is essential for transitioning technologies from laboratory to manufacturing, ensuring stable production under strict quality standards [2][3] Group 4: Market Opportunities - The global CGT CRO market was valued at $710 million in 2020 and is projected to reach $1.74 billion by 2025, while China's market is expected to grow from 170 million yuan in 2016 to 1.2 billion yuan by 2025 [5] - The CGT industry chain has significant room for optimization, particularly in enhancing the GMP certification of raw materials and promoting domestic alternatives to improve supply chain resilience [5][6] Group 5: Challenges and Innovations - High treatment costs and local intellectual property requirements are driving the industry to explore innovative payment models and flexible collaboration strategies [6] - The complexity of CGT production processes poses challenges for scaling up from clinical to commercial production, necessitating standardized processes and improved logistics [5][6]