The earnings call reflects a balanced outlook with significant achievements in bioprocessing and strong cash flow generation. However, challenges persist in core revenue stagnation, Life Sciences segment decline, and geopolitical tensions affecting China operations.

Company Guidance -

Q2 2025

During Danaher Corporation's First Quarter 2025 Earnings Results Conference Call, the company reported first-quarter revenues of $5.7 billion, with core revenue flat year-over-year. The gross profit margin increased by 100 basis points to 61.2%, while the adjusted operating profit margin decreased by 50 basis points to 29.6%. Adjusted diluted net earnings per share were $1.88, and free cash flow was $1.1 billion, resulting in a free cash flow to net income conversion ratio exceeding 110%. The company raised its full-year bioprocessing growth expectation to high-single digits, driven by robust consumables demand. However, life sciences guidance was adjusted to flat growth due to a softer academic and government market, particularly in the U.S., and volume-based procurement impacts in China. Danaher expects core revenue growth of approximately 3% for the full year, with a second-quarter adjusted operating profit margin target of around 25.5%. The company also initiated full-year adjusted EPS guidance between $7.60 and $7.75, emphasizing its strategic focus on innovation, customer support, and long-term shareholder value.

Strong Start to Fiscal Year 2025

First-quarter revenue, earnings, and cash flow exceeded expectations, with revenue reaching $5.7 billion. Bioprocessing saw high-single-digit growth, and order books showed consistent positive momentum.

Bioprocessing Growth

Bioprocessing core revenue increased by 7% with low double-digit growth in consumables and commercial demand from large pharma and CDMO customers.

New Product Launches

Significant investments in long-term growth resulted in impactful product launches, including Cytiva's Xcellerex X-platform and Beckman Coulter Life Sciences' mosaic spectral detection module.

Strong Free Cash Flow

Generated $1.1 billion of free cash flow with a conversion ratio of more than 110%.

Danaher (DHR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DHR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 22, 2025	2025 (Q2)	1.64 / -	1.72	―	―	―
Apr 22, 2025	2025 (Q1)	1.63 / 1.88	1.92	-2.08% (-0.04)
Jan 29, 2025	2024 (Q4)	2.16 / 2.14	2.09	2.39% (+0.05)
Oct 22, 2024	2024 (Q3)	1.57 / 1.71	2.02	-15.35% (-0.31)
Jul 23, 2024	2024 (Q2)	1.57 / 1.72	1.817	-5.34% (-0.10)
Apr 23, 2024	2024 (Q1)	1.72 / 1.92	2.092	-8.22% (-0.17)
Jan 30, 2024	2023 (Q4)	1.91 / 2.09	2.544	-17.85% (-0.45)
Oct 24, 2023	2023 (Q3)	1.81 / 2.02	2.269	-10.97% (-0.25)
Jul 25, 2023	2023 (Q2)	1.78 / 1.82	2.446	-25.72% (-0.63)
Apr 25, 2023	2023 (Q1)	2.00 / 2.09	2.446	-14.47% (-0.35)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DHR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 22, 2025	$184.67	$191.76	+3.84%
Jan 29, 2025	$247.07	$223.03	-9.73%
Oct 22, 2024	$270.93	$260.16	-3.98%
Jul 23, 2024	$249.57	$262.79	+5.30%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.