Danaher Reports Second Quarter 2024 Results

Original from: Danaher

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 3.0% year-over-year to $5.7 billion and non-GAAP core revenue decreased 3.5%.

·    Operating cash flow was $1.4 billion and non-GAAP free cash flow was $1.1 billion.

Rainer M. Blair, President and Chief Executive Officer, stated, "Our team executed well during the second quarter, delivering better-than-expected revenue, earnings and cash flow. We were particularly pleased with the sustained positive momentum in our bioprocessing business and with strong performance at Cepheid, which we believe gained market share in molecular testing again this quarter."

Blair continued, "There's a bright future ahead for Danaher. The transformation in our portfolio over the last several years has created a focused life sciences and diagnostics leader positioned for higher long-term growth, expanded margins, and stronger cash flow."

Third Quarter and Full Year 2024 Outlook

The Company provides forecasted sales only on a non-GAAP core revenue basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines.

For the third quarter 2024, the Company anticipates that non-GAAP core revenue will be down low-single digits year-over-year. For full year 2024, the Company continues to expect that non-GAAP core revenue will be down low-single digits year-over-year.

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Source: Danaher Reports Second Quarter 2024 Results