Slide 1: Danaher Corporation Fourth Quarter 2024 Earnings Release
Danaher Corporation Fourth Quarter 2024 Earnings Release January 29, 2025
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: Performance Summary: Revenue
Performance Summary: Revenue Q4 Revenue FY Revenue +2.0% Flat Core +1.0% Core -1.5% Acquisitions +1.5% Acquisitions +2.0% FX -0.5% FX -0.5% ($ millions) ($ millions) Throughout this presentation, with respect to revenue performance, for the definitions of "Acquisitions", “Core” and “FX”, please refe
Slide 4: Performance Summary: Adjusted Operating Profit Margin
Performance Summary: Adjusted Operating Profit Margin Q4 Adjusted Operating Profit Margin FY Adjusted Operating Profit Margin +90 BPS -10 BPS 4
Slide 5: Performance Summary: Adjusted Diluted Net Earnings Per Common Share
Performance Summary: Adjusted Diluted Net Earnings Per Common Share Q4 Adjusted Diluted Net Earnings FY Adjusted Diluted Net Earnings Per Common Share Per Common Share +2.4% -1.3% 5
Slide 6: Performance Summary: Free Cash Flow
Performance Summary: Free Cash Flow Q4 Free Cash Flow Performance FY Free Cash Flow Performance +29.5% +3.5% ($ millions) ($ millions) 6
Slide 7: Fourth Quarter 2024: Biotechnology
Fourth Quarter 2024: Biotechnology Revenue Adjusted Operating Profit Margin +6.5% +200 BPS Core +8.0% FX -1.5% ($ millions) 7
Slide 8: Fourth Quarter 2024: Life Sciences
Fourth Quarter 2024: Life Sciences Revenue Adjusted Operating Profit Margin +5.5% +320 BPS Core +1.0% Acquisitions +5.0% FX -0.5% ($ millions) 8
Slide 9: Fourth Quarter 2024: Diagnostics
Fourth Quarter 2024: Diagnostics Revenue Adjusted Operating Profit Margin -3.0% -170 BPS Core -2.0% FX -1.0% ($ millions) 9
Slide 10: Guidance
Guidance 10
Slide 11: Q&A
Q&A 11
Slide 12: Y...
Y...
Slide 13: Reconciliation of GAAP to Non-GAAP Financial Measures
DANAHER CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTAL FORWARD-LOOKING INFORMATION THREE-MONTH PERIODS AND YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023
Slide 14: Table of Contents and Forward-Looking Statements Disclosure
TABLE OF CONTENTS Page 1 Sales Growth (Decline) by Segment, Core Sales Growth (Decline) by Segment 1 Forecasted Core Sales (Decline) Growth and Adjusted Operating Profit Margin 2 Segment Sales, Operating Profit and Adjusted Operating Profit 3 Non-GAAP Profitability Measures 7 Other Non-GAAP Adjusted
Slide 15: Sales Growth (Decline) by Segment, Core Sales Growth by Segment
DANAHER CORPORATION Sales Growth (Decline) by Segment, Core Sales Growth (Decline) by Segment % Change Three-Month Period Ended December 31, 2024 vs. Comparable 2023 Period Segments Total Company Biotechnology Life Sciences Diagnostics Total sales growth (decline) (GAAP) 2.0 % 6.5 % 5.5 % (3.0)% Imp
Slide 16: Segment Sales, Operating Profit and Adjusted Operating Profit
DANAHER CORPORATION Segment Sales, Operating Profit and Adjusted Operating Profit ($ in millions) Three-Month Period Ended Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Sales (GAAP) Biotechnology $ 1,869 $ 1,759 $ 6,759 $ 7,172 Life Sciences 2,032 1,930 7,329 7,1
Slide 17: Non-GAAP Profitability Measures: Three-Month Period 2024
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Three-Month Period Ended December 31, 2024 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings from Continuing Operations (GAAP) $ 1,086 Interest, Net 47 Other Nonoperating (Income) Expense 63 Income Taxes 229 O
Slide 18: Non-GAAP Profitability Measures: Three-Month Period 2023
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Three-Month Period Ended December 31, 2023 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings from Continuing Operations (GAAP) $ 1,121 Interest, Net (32) Other Nonoperating (Income) Expense 137 Income Taxes 11
Slide 19: Non-GAAP Profitability Measures: Year 2024
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Year Ended December 31, 2024 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings from Continuing Operations (GAAP) $ 3,899 Interest, Net 161 Other Nonoperating (Income) Expense 56 Income Taxes 747 Operating Prof
Slide 20: Non-GAAP Profitability Measures: Year 2023
DANAHER CORPORATION Non-GAAP Profitability Measures ($ in millions) Year Ended December 31, 2023 Biotechnology Life Sciences Diagnostics Other Total Company Net Earnings from Continuing Operations (GAAP) $ 4,221 Interest, Net (17) Other Nonoperating (Income) Expense 175 Income Taxes 823 Operating Pr
Slide 21: Other Non-GAAP Adjusted P&L Measures: Three-Month Period 2024
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Three-Month Period Ended December 31, 2024 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross
Slide 22: Other Non-GAAP Adjusted P&L Measures: Three-Month Period 2023
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Three-Month Period Ended December 31, 2023 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross
Slide 23: Other Non-GAAP Adjusted P&L Measures: Year 2024
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Year Ended December 31, 2024 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross profit Operati
Slide 24: Other Non-GAAP Adjusted P&L Measures: Year 2023
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) Year Ended December 31, 2023 Net earnings Earnings from continuing Diluted net from operations for earnings per continuing calculation of common operations diluted earnings share from Gross profit Operati
Slide 25: 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 ($ in millions) (only the pretax amounts set forth below are reflected in the amortization line item above): Thr
Slide 26: Other Non-GAAP Adjusted P&L Measures: Footnotes (continued)
DANAHER CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) H Discrete tax adjustments and other tax-related adjustments for the three-month period ended December 31, 2024, include the impact of net discrete tax benefits of $4 million due principally to net discre
Slide 27: 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 Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Average common stock and common equivalent shares outstandin
Slide 28: Operating Profit Margins and Core Operating Margin Changes: Quarter
DANAHER CORPORATION Operating Profit Margins and Year-Over-Year Core Operating Margin Changes Segments Total Company Biotechnology Life Sciences Diagnostics Three-Month Period Ended December 31, 2023 Operating Profit Margins from Continuing Operations (GAAP) 20.90 % 23.60 % 12.20 % 28.20 % Fourth qu
Slide 29: Operating Profit Margins and Core Operating Margin Changes: Year
DANAHER CORPORATION Operating Profit Margins and Year-Over-Year Core Operating Margin Changes Segments Total Company Biotechnology Life Sciences Diagnostics Year Ended December 31, 2023 Operating Profit Margins from Continuing Operations (GAAP) 21.80 % 26.60 % 16.90 % 25.10 % Full year 2024 impact f
Slide 30: 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 31: 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 32: 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 33: Danaher
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