Danaher reports Q1 2024 results

Danaher Corporation announced results for the quarter ended March 29, 2024. All results in this release reflect only continuing operations unless otherwise noted.

Key first quarter 2024 results

• Net earnings were $1.1 billion, or $1.45 per diluted common share and non-GAAP adjusted diluted net earnings per common share were $1.92.
• Revenues decreased 2.5% year-over-year to $5.8 billion and non-GAAP core revenue decreased 4.0%.
• Operating cash flow was $1.7 billion and non-GAAP free cash flow was $1.4 billion.

Rainer M. Blair, President and Chief Executive Officer, stated, “We had a good start to 2024, with our team delivering better-than-expected revenue, earnings and cash flow. We were especially pleased to see improving order trends in our bioprocessing business and believe we continued to gain market share in our molecular diagnostics business at Cepheid.”

Blair continued, “Looking ahead, the powerful combination of our leading portfolio and our team’s commitment to executing with the Danaher Business System provides a strong foundation for differentiated long-term performance while helping to meaningfully improve human health.”

Second quarter and full year 2024 outlook
The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines.

For the second quarter 2024, the Company anticipates that non-GAAP core revenue will be down mid-single digits year-over-year. For full year 2024, the Company continues to expect that non-GAAP core revenue will be down low-single digits year-over-year.
MB Bureau