Danaher (NYSE:DHR) FY Earnings Call Presentation

Financial Performance & Expectations - Danaher anticipates Q4 2025 results will be slightly ahead of expectations[7, 8] - The company expects Q4 core revenue growth to be toward the high end of their low-single digit percentage guidance[8] - FY 2025 adjusted EPS is expected to be toward the high-end of the guidance range of $7.70 to $7.80[9] - Initial 2026 expectations include core revenue growth of +3% to +6%, leading to high-single digit (HSD) adjusted earnings per share (EPS) growth and >100 bps adjusted operating profit margin expansion[10] - Danaher estimates 2025 total revenue to be approximately $24.5 billion[14] Business Segment Performance - Biotechnology represents 59.5% of 2025E total revenue, with approximately $7.3 billion in revenue[14] - Life Sciences represents 28.6% of 2025E total revenue, with approximately $7.3 billion in revenue[14] - Diagnostics represents >$6 billion of 2025E total revenue, with approximately $9.9 billion in revenue[14] - Bioprocessing consumables experienced high-single digit (HSD) growth, and equipment experienced mid-single digit (MSD) growth[12] Strategic Positioning & Growth Drivers - Approximately 80% of revenue is recurring, driven by razor/razor-blade models and service contracts[19] - Over 90% of global monoclonal antibody (mAb) production volume is supported by Cytiva[26] - Over 80% of 2025E bioprocessing revenue is from monoclonal antibodies (mAbs)[26]