Danaher Corporation · NYSE:DHR
Danaher — Q1 2024 Earnings Presentation
24 slides from Danaher's earnings presentation, Apr 23, 2024
Slide 1: Danaher Corporation First Quarter 2024 Earnings Release
Danaher Corporation First Quarter 2024 Earnings Release April 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: First Quarter 2024 Performance Summary
First Quarter 2024 Performance Summary Adjusted Diluted Net Earnings Per Revenue Common Share from Continuing Operations -2.5% Core -4.0% Acquisitions +2.0% -6.5% FX -0.5% $2.05 $1.92 $5,949 $5,796 Q1 2023 Q1 2024 Q1 2023 Q1 2024 ($ millions) Throughout this presentation, with respect to revenue per
Slide 4: First Quarter 2024 Performance Summary: Operating Margin and Free Cash Flow
First Quarter 2024 Performance Summary Operating Profit Margin Free Cash Flow Performance -290 BPS -6.0% Core -170 bps Acquisitions -80 bps Other -40 bps 25.5% 22.6% $1,540 $1,448 Q1 2023 Q1 2024 Q1 2023 ($ millions) Q1 2024 Throughout this presentation when referred to in connection with operating
Slide 5: First Quarter 2024: Biotechnology
First Quarter 2024: Biotechnology Revenue Operating Profit Margin -18.0% -1,070 BPS Core -17.0% Core -1,070 bps FX -1.0% $1,864 32.0% $1,524 21.3% Q1 2023 Q1 2024 Q1 2023 Q1 2024 ($ millions) 5
Slide 6: First Quarter 2024: Life Sciences
First Quarter 2024: Life Sciences Revenue Operating Profit Margin +2.0% -530 BPS Core -3.0% Core -170 bps Acquisitions +6.0% Acquisitions -220 bps FX -1.0% Other -140 bps $1,709 $1,745 18.8% 13.5% Q1 2023 Q1 2024 Q1 2023 Q1 2024 ($ millions) 6
Slide 7: First Quarter 2024: Diagnostics
First Quarter 2024: Diagnostics Revenue Operating Profit Margin +6.5% +430 BPS Core +7.5% Core +430 bps FX -1.0% 32.8% $2,376 $2,527 28.5% Q1 2023 Q1 2024 Q1 2023 Q1 2024 ($ 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 and Supplemental Forward-Looking Information
DANAHER CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTAL FORWARD-LOOKING INFORMATION THREE-MONTH PERIODS ENDED MARCH 29, 2024 AND MARCH 31, 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 Net Earnings from Continuing Operations, Operating Profit, Adju
Slide 13: Sales (Decline) Growth by Segment and Core Sales (Decline) Growth by Segment
DANAHER CORPORATION Sales (Decline) Growth by Segment and Core Sales (Decline) Growth by Segment % Change Three-Month Period Ended March 29, 2024 vs. Comparable 2023 Period Segments Total Company Biotechnology Life Sciences Diagnostics Total sales (decline) growth (GAAP) (2.5)% (18.0)% 2.0 % 6.5 % I
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 March 29, 2024 March 31, 2023 Sales (GAAP) Biotechnology $ 1,524 $ 1,864 Life Sciences 1,745 1,709 Diagnostics 2,527 2,376 Total Company $ 5,796 $ 5,949 Operating Profit (GAAP)
Slide 15: Net Earnings, Operating Profit, Adjusted EBITDA and Margins (Q1 2024)
DANAHER CORPORATION Net Earnings from Continuing Operations, Operating Profit, Adjusted EBITDA, Net Earnings from Continuing Operations Margin, Operating Profit Margin and Adjusted EBITDA Margin ($ in millions) Three-Month Period Ended March 29, 2024 Biotechnology Life Sciences Diagnostics Other Tot
Slide 16: Net Earnings, Operating Profit, Adjusted EBITDA and Margins (Q1 2023)
DANAHER CORPORATION Net Earnings from Continuing Operations, Operating Profit, Adjusted EBITDA, Net Earnings from Continuing Operations Margin, Operating Profit Margin and Adjusted EBITDA Margin ($ in millions) Three-Month Period Ended March 31, 2023 Biotechnology Life Sciences Diagnostics Other Tot
Slide 17: Other Non-GAAP Adjusted P&L Measures (Q1 2024)
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Three-Month Period Ended March 29, 2024 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross pro
Slide 18: Other Non-GAAP Adjusted P&L Measures (Q1 2023)
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Three-Month Period Ended March 31, 2023 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross pro
Slide 19: 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 20: Average and Adjusted Average Diluted Shares Outstanding
DANAHER CORPORATION Average and Adjusted Average Common Stock and Common Equivalent Diluted Shares Outstanding (shares in millions) Three-Month Period Ended March 29, 2024 March 31, 2023 Average common stock and common equivalent shares outstanding - diluted (GAAP) 5 748.6 737.2 Converted shares 6 —
Slide 21: 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 22: 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 23: 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 24: Danaher
danaher.