Danaher Corporation · NYSE:DHR
Danaher — Q1 2026 Earnings Presentation
23 slides from Danaher's earnings presentation, Apr 21, 2026
Slide 1: Danaher Corporation First Quarter 2026 Earnings Release
Danaher Corporation First Quarter 2026 Earnings Release April 21, 2026
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 2026 Performance Summary
First Quarter 2026 Performance Summary Revenue Adjusted Operating Adjusted Diluted Net Earnings Profit Margin Per Common Share +3.5% Core +0.5% +60 BPS +9.5% FX +3.0% $2.06 $5,951 30.2% $5,741 29.6% $1.88 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 ($ millions) Throughout this presentation, with
Slide 4: First Quarter 2026: Biotechnology
First Quarter 2026: Biotechnology Revenue Adjusted Operating Profit Margin 11.5% +120 BPS Core +7.0% FX +4.5% 42.7% $1,797 41.5% $1,612 Q1 2025 Q1 2026 Q1 2025 Q1 2026 ($ millions) 4
Slide 5: First Quarter 2026: Life Sciences
First Quarter 2026: Life Sciences Revenue Adjusted Operating Profit Margin +3.5% +90 BPS Core +0.5% FX +3.0% 21.7% $1,737 $1,680 20.8% Q1 2025 Q1 2026 Q1 2025 Q1 2026 ($ millions) 5
Slide 6: First Quarter 2026: Diagnostics
First Quarter 2026: Diagnostics Revenue Adjusted Operating Profit Margin -1.5% -70 BPS Core -4.0% FX +2.5% 31.3% $2,449 $2,417 30.6% Q1 2025 Q1 2026 Q1 2025 Q1 2026 ($ millions) 6
Slide 7: Guidance
Guidance 7
Slide 8: Q&A
Q&A 8
Slide 9: Y....
Y....
Slide 10: 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 27, 2026 AND MARCH 28, 2025
Slide 11: Table of Contents
TABLE OF CONTENTS Page 1 Sales Growth (Decline) by Segment and Core Sales Growth (Decline) by Segment 2 Forward-Looking Information 3 Segment Sales, Operating Profit and Adjusted Operating Profit 4 Non-GAAP Profitability Measures 6 Other Non-GAAP Adjusted P&L Measures 9 Operating Profit Margins and
Slide 12: Sales Growth (Decline) by Segment and Core Sales Growth (Decline) by Segment
DANAHER CORPORATION Sales Growth (Decline) by Segment and Core Sales Growth (Decline) by Segment % Change Three-Month Period Ended March 27, 2026 vs. Comparable 2025 Period Segments Total Company Biotechnology Life Sciences Diagnostics Total sales growth (decline) (GAAP) 3.5 % 11.5 % 3.5 % (1.5)% Im
Slide 13: Forward-Looking Information
DANAHER CORPORATION Forward-Looking Information The Company does not reconcile non-GAAP forecasted core sales growth, adjusted operating profit margin and adjusted diluted net earnings per common share to their respective, comparable GAAP measures because (except for estimated amortization of acquis
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 27, 2026 March 28, 2025 Sales (GAAP) Biotechnology $ 1,797 $ 1,612 Life Sciences 1,737 1,680 Diagnostics 2,417 2,449 Total Company $ 5,951 $ 5,741 Operating Profit (GAAP)
Slide 15: Non-GAAP Profitability Measures
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Three-Month Period Ended March 27, 2026 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings (GAAP) $ 1,029 Interest, Net 36 Other Nonoperating (Income) Expense 73 Income Taxes 206 Operating Profit (GAAP) $ 534 $
Slide 16: Non-GAAP Profitability Measures
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Three-Month Period Ended March 28, 2025 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings (GAAP) $ 954 Interest, Net 66 Other Nonoperating (Income) Expense 79 Income Taxes 175 Operating Profit (GAAP) $ 441 $ 2
Slide 17: Other Non-GAAP Adjusted P&L Measures
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Three-Month Period Ended March 27, 2026 Net earnings for calculation of Earnings diluted earnings Diluted net Gross profit Operating Operating before income per common earnings per Cost of sales margin pr
Slide 18: Other Non-GAAP Adjusted P&L Measures
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Three-Month Period Ended March 28, 2025 Net earnings for calculation of Earnings diluted earnings Diluted net Gross profit Operating Operating before income per common earnings per Cost of sales margin pr
Slide 19: Other Non-GAAP Adjusted P&L Measures
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: 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 March 28, 2025 Operating Profit Margins (GAAP) 22.20 % 27.40 % 12.00 % 29.30 % First quarter 2026 transaction c
Slide 21: Cash Flow, Free Cash Flow and Related Measures
DANAHER CORPORATION Cash Flow, Free Cash Flow and Related Measures ($ in millions) Three-Month Period Ended Year-over-Year March 27, 2026 March 28, 2025 Change Total Cash Flow: Net cash provided by operating activities (GAAP) $ 1,322 $ 1,299 Total cash used in investing activities (GAAP) $ (249) $ (
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: Danaher
danaher.