Danaher Corporation’s (DHR) third-quarter 2024 adjusted earnings (excluding 59 cents from non-recurring items) of $1.71 per share surpassed the Zacks Consensus Estimate of $1.56. The bottom line declined 0.6% year over year.Danaher’s reported net sales of $5.8 billion, which beat the consensus estimate of $5.6 billion. The metric increased 3.1% year over year, driven by robust sales in the Diagnostics and Life Sciences segments.DHR’s core sales increased 0.5%. Acquisitions had a positive impact of 2.5% on q ...

Tuesday, October 22nd, 2024 Following a week or two of seemingly higher and higher all-time closing highs, we see something of a pullback in stock market activity in the first two trading days of this week. There aren't any concrete reasons behind this — no economic data or dire Q3 reports impacting market sentiment — but more a cautious foreboding of what may be to come. The possible explanations for this are manifold. High market valuations naturally bring about caution, and in two weeks we potentially co ...

Financial Data and Key Metrics - Q3 2024 revenue was $5.8 billion, with 0.5% core revenue growth [6] - Gross profit margin was 58.7%, and adjusted operating profit margin was 27.5%, down 10 basis points due to accelerated innovation investments [6] - Adjusted diluted net earnings per share were $1.71, flat year-over-year [6] - Free cash flow was $1.2 billion for the quarter and $3.8 billion year-to-date, with a free cash flow to net income conversion ratio of 135% [6] Business Segment Performance - **Biotechnology Segment**: Core revenue was flat year-over-year, with bioprocessing up low single-digits and discovery and medical down high single-digits [7] - Bioprocessing orders increased high single-digits sequentially, marking the fifth consecutive quarter of sequential order improvement [7] - Book-to-bill ratio improved to approximately 1.0 [7] - **Life Sciences Segment**: Core revenue decreased by 2%, with life sciences instruments down mid-single-digits [10] - Consumables and service grew, offset by a decline in capital equipment, particularly in China [10] - **Diagnostics Segment**: Core revenue increased 5%, with clinical diagnostics up low single-digits and Cepheid up double-digits [14][15] - Cepheid's respiratory revenue was $425 million, exceeding expectations due to higher volumes and a favorable mix of tests [15] Geographic Performance - Developed markets saw low single-digit growth in North America and mid-single-digit growth in Western Europe [6] - High-growth markets declined mid-single-digits, with China down high single-digits [6] - In China, orders and activity levels remained weak, particularly for equipment, as customers delayed purchasing decisions [7][10] Strategic Direction and Industry Competition - The company is focused on life sciences and diagnostics, with a portfolio transformation aimed at higher long-term growth, expanded margins, and stronger cash flow [5] - Recent innovations include the Cydem VT cell culture system and the acquisition of Genedata, enhancing the company's competitive advantage [11][12] - The company expects a gradual recovery in bioprocessing, driven by large pharma and biopharma customers, with high single-digit core revenue growth anticipated in Q4 2024 [8][9] Management Commentary on Operating Environment and Future Outlook - Management highlighted strong Q3 results, with revenue, adjusted net earnings, and cash flow exceeding expectations [4] - The company expects low single-digit core revenue decline for full-year 2024, with an adjusted operating profit margin of approximately 29% [18] - Management remains optimistic about long-term opportunities, particularly in bioprocessing and diagnostics, supported by innovation and the Danaher Business System [19] Other Important Information - The company completed the acquisition of Genedata, a provider of enterprise and workflow software for drug discovery and development [12] - Cepheid's non-respiratory reagent portfolio grew mid-teens, driven by menu adoption and system utilization [16] Q&A Session Summary Question: Instrument growth ex-China and trends in different markets - Instrument growth ex-China was low to mid-single-digits, with China down high single-digits [21] - Early signs of improvement in demand among pharma and biopharma customers in North America were noted [21] Question: 2025 outlook for life sciences and bioprocessing - Management is cautious about 2025, awaiting Q4 results and the impact of China's stimulus [22][23] - A gradual recovery in bioprocessing is expected to continue into 2025 [23] Question: Cepheid's respiratory revenue and market share gains - A significant portion of Cepheid's $425 million respiratory revenue beat was due to pull-forward purchases [29] - Market share gains were largely in the US, particularly in hospitals and near point-of-care settings [29] Question: 2025 core growth expectations and China's impact - The Street's expectation of 8% core growth for 2025 may be optimistic, given uncertainties around China's stimulus and respiratory comps [30][31] - Management emphasized the importance of Q4 order trends in shaping the 2025 outlook [31] Question: Book-to-bill ratio and its relevance - The book-to-bill ratio is not a primary metric for the company, but sequential order growth is encouraging [33] - Five consecutive quarters of order growth in bioprocessing indicate a gradual recovery [33] Question: Genomics trends and Rapid Genes launch - Gene reading markets remain soft, particularly among smaller customers, while gene editing shows strong performance [34] - The launch of Rapid Genes is expected to provide a tailwind over time [34] Question: Q4 operating margin and 2025 incremental margins - Q4 operating margin is expected to be approximately 30%, with full-year margins unchanged at 29% [35] - Incremental margins for 2025 will depend on volume and mix [36] Question: Small vs. large customers in bioprocessing - Large customers account for 75% of bioprocessing revenue, with smaller customers still cautious due to funding constraints [37] - The recovery has been gradual, with destocking largely behind us [37] Question: Buyback and M&A activity - The company completed its buyback in Q3 and remains active in M&A, though valuations are still elevated [39][40] Question: China's value-based pricing and local competition - Value-based pricing in China is expected to have a $150 million impact over three years, with activity ramping up [42] - Local competition in bioprocessing is more marginal, with multinational companies preferred for international sales [43] Question: Life science instrument trends - Capital equipment spending remained constrained, particularly in China, while consumables and service grew [45] Question: Abcam's performance - Abcam is transitioning well into Danaher, with progress in growth accelerators and cost positioning [46] Question: Diagnostics performance in China - Diagnostics revenue in China was down low double-digits, impacted by volume-based procurement [49][50] This concludes the summary of Danaher Corporation's Q3 2024 earnings call.

For the quarter ended September 2024, Danaher (DHR) reported revenue of $5.8 billion, down 15.6% over the same period last year. EPS came in at $1.71, compared to $2.02 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $5.59 billion, representing a surprise of +3.65%. The company delivered an EPS surprise of +9.62%, with the consensus EPS estimate being $1.56. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...

| --- | --- | --- | --- | |------------------|----------------------|-------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | Danaher Corporation | | | | | | Third Quarter 2024 Earnings Release | | | | | | | | October 22, 2024 | | | | | | | | | | | | | | Forward Looking Statements Statements in this presentation that are not strictly historical, including any statements regarding events or developments that we believe or anticipate will or may occur in the future are "forwa ...

Danaher (DHR) came out with quarterly earnings of $1.71 per share, beating the Zacks Consensus Estimate of $1.56 per share. This compares to earnings of $2.02 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 9.62%. A quarter ago, it was expected that this industrial and medical device maker would post earnings of $1.57 per share when it actually produced earnings of $1.72, delivering a surprise of 9.55%. Over the last four quar ...

WASHINGTON, Oct. 22, 2024 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) (the "Company") today announced results for the quarter ended September 27, 2024. All results in this release reflect only continuing operations unless otherwise noted. Key Third Quarter 2024 Results Net earnings were $818 million, or $1.12 per diluted common share and non-GAAP adjusted diluted net earnings per common share were $1.71. Revenues increased 3.0% year-over-year to $5.8 billion and non-GAAP core revenue increased 0.5%. Ope ...

Exhibit 99.1 Innovation at the speed of life Danaher Reports Third Quarter 2024 Results WASHINGTON D.C., October 22, 2024 -- Danaher Corporation (NYSE: DHR) (the "Company") today announced results for the quarter ended September 27, 2024. All results in this release reflect only continuing operations unless otherwise noted. Key Third Quarter 2024 Results • Net earnings were $818 million, or $1.12 per diluted common share and non-GAAP adjusted diluted net earnings per common share were $1.71. • Revenues incr ...

Wall Street analysts expect Danaher (DHR) to post quarterly earnings of $1.56 per share in its upcoming report, which indicates a year-over-year decline of 22.8%. Revenues are expected to be $5.59 billion, down 18.6% from the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a company announces its earnings, it is ...

Danaher Corporation (DHR) is poised to benefit from strength in its clinical diagnostics business, backed by growth in Leica Biosystems and Beckman Colter Diagnostics units. The company has been witnessing positive responses for its new products like Aperio GT 450 DX and Access NT ProBNP, both of which received the FDA 510K clearance. Also, higher demand for respiratory and non-respiratory disease tests augers well for DHR’s molecular diagnostics business.The company believes in expanding its market presenc ...