Danaher said total sales for its Biotechnology segment decreased 9.0% in the 3-month period ended June 28, 2024 and 13.5% in the 6-month period. The company cited lower customer demand as customers reduced their inventory levels as the main factor behind the decline in core sales in its bioprocessing business. It said it expects core revenue for the bioprocessing business to decline for the full year 2024.

1. 01

   Danaher said total sales for its Biotechnology segment decreased 9.0% in the 3-month period ended June 28, 2024 and 13.5% in the 6-month period. The company cited lower customer demand as customers reduced their inventory levels as the main factor behind the decline in core sales in its bioprocessing business. It said it expects core revenue for the bioprocessing business to decline for the full year 2024.

2. 02

   Danaher said operating profit margin rose 60 basis points to 20.3% in the 3-month period ended June 28, 2024 from 19.7% in the 3-month period ended June 30, 2023. On a 6-month basis, it said the margin fell 110 basis points from 22.6% to 21.5%.

3. 03

   Danaher said operating profit margin for the Life Sciences segment decreased 570 basis points in the 3-month period ended June 28, 2024, while the margin for the Diagnostics segment increased 560 basis points. The company cited lower core sales and product mix, net of improvements in its operational and administrative cost structure (340 basis points), and the dilutive effect of acquired businesses (230 basis points) as unfavorable factors for Life Sciences.

4. 04

   Danaher said operating cash flow from continuing operations was about $3.2 billion in the 6-month period ended June 28, 2024, down $296 million (9%) from a year earlier. It said cash and cash equivalents were about $2.4 billion as of June 28, 2024.

Key figures

Quarter ended June 28, 2024

Revenue

$5.7B

Operating income

$1.2B

Net income

$907M

EPS

$1.22

Gross profit

$3.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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