Danaher Corporation (DHR) Q2 2025 Financial Results Summary

# Danaher Corporation (DHR) Q2 2025 Financial Results Summary

Washington D.C., July 22, 2025 – Danaher Corporation (NYSE: DHR) announced its financial results for the quarter ended June 27, 2025.

## Key Second Quarter 2025 Results

– **Net Earnings**:
– $555 million, or **$0.77** per diluted common share
– Non-GAAP adjusted diluted net earnings per share: **$1.80**

– **Revenue**:
– Increased by **3.5%** year-over-year to **$5.9 billion**
– Non-GAAP core revenue: Increased by **1.5%** year-over-year

– **Operating Cash Flow**:
– $1.3 billion
– Non-GAAP free cash flow: $1.1 billion

– **Performance Insights**:
– The growth in the Bioprocessing business and disciplined cost management were highlighted as key elements of success.

– **Management Outlook**:
– Rainer M. Blair, CEO, emphasized the strong team execution and the robust growth potential despite a fluid macro environment.

## Earnings Performance

– **Earnings Growth**:
– Net earnings decreased by **38.7%** compared to Q2 2024, which had earnings of $907 million.

– **Diluted Earnings Per Share**:
– Q2 2024 diluted EPS was **$1.22**, reflecting a **36.9%** decline year-over-year.

– **Core Sales Performance**:
– Core sales growth stood at **1.5%**, indicating a shift in market dynamics compared to the previous year.

## Segment Revenue Growth

### Sales Growth by Segment (Q2 2025 vs. Q2 2024)

– **Biotechnology**:
– Total sales growth of **8.0%**
– **Life Sciences**:
– Total sales growth of **0.5%**
– **Diagnostics**:
– Total sales growth of **2.0%**

– **Core Sales**:
– Biotechnology core sales growth: **6.0%**
– Life Sciences core sales decline: **-2.5%**
– Diagnostics core sales growth: **2.0%**

### Year-to-Date Sales Performance

– **Six-Month Sales Growth** (ending June 27, 2025):
– Total sales grew by **1.0%** year-over-year.

– **Core Sales**:
– Core sales growth: **1.0%** for the six-month period.
– Segment breakdown includes a **7.0%** growth in Biotechnology and a **-1.5%** decline in Life Sciences.

## Forecast for Upcoming Quarters

– **Third Quarter 2025 Guidance**:
– Expectation for non-GAAP core revenue growth to be in the **low-single digits** year-over-year.

– **Full Year 2025 Expectations**:
– Core revenue guidance remains at approximately **3%** year-over-year growth.
– Adjusted diluted net earnings per common share guidance increased to a range of **$7.70 to $7.80**, up from **$7.60 to $7.75**.

## Cash Flow Insights

– **Operating Cash Flow**:
– Decreased by **5.6%** compared to Q2 2024, which had cash flow of $1.417 billion.

– **Free Cash Flow**:
– Q2 2024 figure was **$1.131 billion**, indicating a decrease in free cash flow of **3.3%** year-over-year.

## Shareholder Returns

– **Dividend or Share Repurchase**:
– The report did not specify a declared quarterly dividend or any share repurchase activities during the second quarter.

## Conclusion

Danaher Corporation’s Q2 2025 results reflect a mix of growth and challenges, with specific segments experiencing varied performance. While net earnings and diluted earnings per share saw significant declines from the previous year, the company continues to project a positive outlook for the remainder of the year, thanks to a strong focus on operational efficiencies and strategic growth areas.

### CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
**($ and shares in millions, except per share amounts)**
**(unaudited)**