Danaher Corp.

Diagnostics & Research • Healthcare • Washington, DC, United States • DHR (NYQ)

202 828 0850 2200 Pennsylvania Avenue N.W., Washington, DC 20037-1701, United States

Quarter: Q2 2025 Reported: April 22, 2025 Sentiment: Positive

Danaher Corporation designs, manufactures, and markets professional, medical, research, and industrial products and services in the United States, China, and internationally. It operates through Biotechnology, Life Sciences, and Diagnostics segments. The Biotechnology segment provides bioprocessing technologies, consumables, services, and solutions that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, and aseptic fill finish; single-use hardware, consumables, and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services for diagnostic and assay development; and healthcare filtration solutions. The Life Sciences segment provides mass spectrometers; bioanalytical measurement systems; flow cytometry, genomics, lab automation, centrifugation, liquid handling automation instruments, antibodies, and particle counting and characterization; genome sample preparation; microscopes; protein consumables; filtration products; and genomic medicines, such as custom nucleic acid products, and plasmid DNA, RNA, and proteins under the ABCAM, ALDEVRON, BECKMAN COULTER, GENEDATA, IDT, LEICA MICROSYSTEMS, MOLECULAR DEVICES, PALL, PHENOMENEX, and SCIEX brands. The Diagnostics segment offers clinical instruments, consumables, software, and services in the areas of clinical chemistry, immunoassay, hematology, and microbiology for hospitals, physicians' offices, reference laboratories, and other critical care settings. The company was formerly known as Diversified Mortgage Investors, Inc. and changed its name to Danaher Corporation in 1984. Danaher Corporation was founded in 1969 and is headquartered in Washington, the District Of Columbia.

Analysis Summary

Danaher Corporation reported a robust start to 2025 with its first-quarter results, demonstrating resilience and effective operational execution. Total revenues for Q1 2025 reached $5.8 billion, reflecting a 2.0% increase year-over-year, driven by a 2.5% core revenue growth. This indicates underlying business strength beyond currency fluctuations or acquisitions/divestitures. Net earnings for the quarter were $1.1 billion, with diluted earnings per share (EPS) at $1.48, marking a 2.5% year-over-year increase on a per share basis. Notably, adjusted diluted EPS grew at an even faster pace of 5.5%, suggesting strong profitability management and operational leverage.

Management commentary from President and CEO Rainer M. Blair emphasized the 'solid first quarter results' and acknowledged the 'dynamic environment' in which the teams executed well. Blair expressed optimism for the remainder of the year, stating the company is 'well-positioned for continued growth as we move through 2025.' This forward-looking statement, while brief, signals management's confidence in their strategic direction and operational capabilities.

Due to the highly condensed nature of the provided transcript, specific details regarding strategic initiatives, business segment performance breakdowns, competitive positioning, broader market trends, detailed risk factors, or highlights from an analyst Q&A session are not available. The analysis is therefore primarily focused on the reported top-line financial figures and the brief management outlook.

Key Highlights

• Q1 2025 revenues increased 2.0% year-over-year to $5.8 billion.
• Core revenue growth for Q1 2025 was 2.5%.
• Net earnings for Q1 2025 were $1.1 billion.
• Diluted EPS for Q1 2025 was $1.48, a 2.5% year-over-year increase.
• Adjusted diluted EPS for Q1 2025 grew 5.5% year-over-year.
• CEO Rainer M. Blair noted 'solid first quarter results' and strong execution in a 'dynamic environment'.
• Management expressed confidence in being 'well-positioned for continued growth' through 2025.

Financial Metrics

eps

1.48

YoY: 2.5%

revenue

5.8 billion

YoY: 2.0%

guidance

net income

1.1 billion

YoY: Not specified for dollar amount

Stock Performance (90 Days)

Data through Dec 30, 2025

Layoff Events

Earnings Calls

Positive Signals

• Positive core revenue growth of 2.5%
• Strong adjusted diluted EPS growth of 5.5%
• Management's explicit statement of 'solid first quarter results'
• CEO's confidence in being 'well-positioned for continued growth'
• Effective execution noted despite a 'dynamic environment'

Risks & Concerns

— The 'dynamic environment' mentioned by the CEO could imply underlying market volatility or challenges, though not explicitly detailed.
— No specific risk factors were explicitly detailed or elaborated upon in the provided brief transcript.