Danaher Corporation · NYSE:DHR
Danaher — Q2 2024 Earnings Presentation
29 slides from Danaher's earnings presentation, Jul 23, 2024
Slide 1: Danaher Corporation Second Quarter 2024 Earnings Release
Danaher Corporation Second Quarter 2024 Earnings Release July 23, 2024
Slide 2: Forward Looking Statements
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 "forward- looking" statements within the meaning of the federal securities laws. Th
Slide 3: Second Quarter 2024 Performance Summary
Second Quarter 2024 Performance Summary Adjusted Diluted Net Earnings Per Revenue Common Share from Continuing Operations -3.0% Core -3.5% Acquisitions +2.0% -0.6% FX -1.5% $1.73 $5,912 $5,743 $1.72 Q2 2023 Q2 2024 Q2 2023 Q2 2024 ($ millions) Throughout this presentation, with respect to revenue pe
Slide 4: Second Quarter 2024 Performance Summary: Margin and Free Cash Flow
Second Quarter 2024 Performance Summary Adjusted Operating Profit Margin Free Cash Flow Performance +60 BPS -14.5% 26.7% 27.3% $1,319 $1,131 Q2 2023 Q2 2024 Q2 2023 Q2 2024 ($ millions) 4
Slide 5: Second Quarter 2024: Biotechnology
Second Quarter 2024: Biotechnology Revenue Adjusted Operating Profit Margin -9.0% +20 BPS Core -7.0% FX -2.0% 39.3% 39.5% $1,885 $1,713 Q2 2023 Q2 2024 Q2 2023 Q2 2024 ($ millions) 5
Slide 6: Second Quarter 2024: Life Sciences
Second Quarter 2024: Life Sciences Revenue Adjusted Operating Profit Margin -1.5% -360 BPS Core -5.5% Acquisitions +6.0% FX -2.0% $1,796 24.7% $1,770 21.1% Q2 2023 Q2 2024 Q2 2023 Q2 2024 ($ millions) 6
Slide 7: Second Quarter 2024: Diagnostics
Second Quarter 2024: Diagnostics Revenue Adjusted Operating Profit Margin +1.5% +550 BPS Core +3.0% FX -1.5% $2,231 $2,260 26.7% 21.2% Q2 2023 Q2 2024 Q2 2023 Q2 2024 ($ millions) 7
Slide 8: Guidance
Guidance 8
Slide 9: Q&A
Q&A 9
Slide 10: »Y...
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Slide 11: Reconciliation of GAAP to Non-GAAP Financial Measures
DANAHER CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTAL FORWARD-LOOKING INFORMATION THREE AND SIX-MONTH PERIODS ENDED JUNE 28, 2024 AND JUNE 30, 2023
Slide 12: Table of Contents
TABLE OF CONTENTS Page 1 Sales (Decline) Growth by Segment and Core Sales (Decline) Growth by Segment 1 Forecasted Core Sales Decline and Adjusted Operating Profit Margin 2 Segment Sales, Operating Profit and Adjusted Operating Profit 3 Non-GAAP Profitability Measures 7 Other Non-GAAP Adjusted P&L M
Slide 13: Sales (Decline) Growth by Segment and Core Sales (Decline) Growth
DANAHER CORPORATION Sales (Decline) Growth by Segment and Core Sales (Decline) Growth by Segment % Change Three-Month Period Ended June 28, 2024 vs. Comparable 2023 Period Segments Total Company Biotechnology Life Sciences Diagnostics Total sales (decline) growth (GAAP) (3.0)% (9.0)% (1.5)% 1.5 % Im
Slide 14: Segment Sales, Operating Profit and Adjusted Operating Profit
DANAHER CORPORATION Segment Sales, Operating Profit and Adjusted Operating Profit ($ in millions) Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Sales (GAAP) Biotechnology $ 1,713 $ 1,885 $ 3,237 $ 3,749 Life Sciences 1,770 1,796 3,515 3,505 D
Slide 15: Non-GAAP Profitability Measures: Three Months 2024
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Three-Month Period Ended June 28, 2024 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings from Continuing Operations (GAAP) $ 907 Interest, Net 26 Other Nonoperating (Income) Expense 59 Income Taxes 176 Operati
Slide 16: Non-GAAP Profitability Measures: Three Months 2023
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Three-Month Period Ended June 30, 2023 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings from Continuing Operations (GAAP) $ 920 Interest, Net 6 Other Nonoperating (Income) Expense 15 Income Taxes 222 Operatin
Slide 17: Non-GAAP Profitability Measures: Six Months 2024
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Six-Month Period Ended June 28, 2024 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings from Continuing Operations (GAAP) $ 1,995 Interest, Net 31 Other Nonoperating (Income) Expense 95 Income Taxes 359 Operati
Slide 18: Non-GAAP Profitability Measures: Six Months 2023
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Six-Month Period Ended June 30, 2023 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings from Continuing Operations (GAAP) $ 2,160 Interest, Net 24 Other Nonoperating (Income) Expense (9) Income Taxes 505 Operat
Slide 19: Other Non-GAAP Adjusted P&L Measures: Three Months 2024
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Three-Month Period Ended June 28, 2024 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross prof
Slide 20: Other Non-GAAP Adjusted P&L Measures: Three Months 2023
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Three-Month Period Ended June 30, 2023 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross prof
Slide 21: Other Non-GAAP Adjusted P&L Measures: Six Months 2024
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Six-Month Period Ended June 28, 2024 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross profit
Slide 22: Other Non-GAAP Adjusted P&L Measures: Six Months 2023
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Six-Month Period Ended June 30, 2023 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross profit
Slide 23: Other Non-GAAP Adjusted P&L Measures: Footnotes
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) A Amortization of acquisition-related intangible assets in the following historical periods (only the pretax amounts set forth below are reflected in the amortization line item above): Three-Month Period
Slide 24: Other Non-GAAP Adjusted P&L Measures: Footnotes (continued)
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) G In May 2020, the Company issued $1.72 billion in aggregate liquidation preference of 5.0% MCPS. Dividends on the MCPS were payable on a cumulative basis at an annual rate of 5.0% on the liquidation pref
Slide 25: Operating Profit Margins and Year-Over-Year Core Operating Profit Margin Changes
DANAHER CORPORATION Operating Profit Margins and Year-Over-Year Core Operating Profit Margin Changes Segments Total Company Biotechnology Life Sciences Diagnostics Three-Month Period Ended June 30, 2023 Operating Profit Margins from Continuing Operations (GAAP) 19.70 % 25.50 % 18.90 % 19.00 % Second
Slide 26: Cash Flow and Free Cash Flow from Continuing Operations
DANAHER CORPORATION Cash Flow from Continuing Operations, Free Cash Flow from Continuing Operations, Operating Cash Flow from Continuing Operations to Net Earnings from Continuing Operations Ratio and Free Cash Flow from Continuing Operations to Net Earnings from Continuing Operations Conversion Rat
Slide 27: Statement Regarding Non-GAAP Measures
DANAHER CORPORATION Statement Regarding Non-GAAP Measures Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies. M
Slide 28: Statement Regarding Non-GAAP Measures (continued)
DANAHER CORPORATION Statement Regarding Non-GAAP Measures • With respect to core operating profit margin changes, in addition to the explanation set forth in the bullets above relating to "restructuring charges” and “other adjustments”, we exclude the impact of businesses owned for less than one yea
Slide 29: Danaher
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