DANAHER CORP /DE/ SEC 10-Q Report
閱讀2分鐘
Danaher Corporation, a global science and technology innovator, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting its ongoing efforts in the Biotechnology, Life Sciences, and Diagnostics segments. The company continues to navigate challenges and leverage opportunities in high-growth markets while addressing technological advancements and regulatory changes.
Financial Highlights
- Total Revenue: $5,936 million, increased by 3.5% compared to the comparable period of 2024, driven by higher core sales in the Biotechnology and Diagnostics segments.
- Gross Profit: $3,523 million, with a gross profit margin of 59.3%, slightly decreased from 59.7% in the comparable period of 2024 due to the impact of currency exchange rates and product mix.
- Operating Profit: $760 million, with operating profit margins decreasing 750 basis points from 20.3% to 12.8% due to impairment charges and the dilutive effect of acquired businesses.
- Net Income: $555 million, decreased from $907 million in the comparable period of 2024, primarily due to impairment charges of $432 million.
- Diluted EPS: $0.77 per share, down from $1.22 per share in the comparable period of 2024, reflecting the impact of impairment charges and lower net earnings.
Business Highlights
Revenue Segments
- Biotechnology: The Biotechnology segment saw an 8.0% increase in sales during the three-month period and a 7.0% increase during the six-month period, driven by increased core sales and the impact of currency exchange rates. The growth was led by the bioprocessing business, with improved consumables demand from large pharmaceutical customers, particularly in Western Europe.
- Life Sciences: The Life Sciences segment experienced a 0.5% increase in sales during the three-month period but a 1.5% decrease during the six-month period. The decline was primarily due to decreased core sales, with lower demand in the genomics consumables business and reduced funding levels at emerging biotechnology and academic research customers.
- Diagnostics: The Diagnostics segment reported a 2.0% increase in sales during the three-month period, driven by increased core sales and currency exchange rates. However, sales decreased by 0.5% during the six-month period due to the impact of divestitures. Increased demand for consumables was offset by decreased demand for equipment.
Geographical Performance
- Developed Markets: Sales in developed markets increased by 5% year-over-year, with core sales up in low-single digits. Western Europe saw high-single digit core sales increases, primarily driven by the Biotechnology and Diagnostics segments.
- High-Growth Markets: Sales and core sales in high-growth markets were flat year-over-year, with a mid-single digit decline in core revenue in China offset by increased core sales in other regions. The Diagnostics and Life Sciences segments saw increased demand, while the Biotechnology segment experienced core sales declines.
Future Outlook
- The company anticipates incurring incremental tariff costs for the full year 2025 due to enacted tariffs, with plans to offset these costs through manufacturing footprint changes, supply chain adjustments, and productivity actions. The company expects academic and government demand to remain weaker, with ongoing uncertainty around research funding.
Operational Challenges
- The company faces challenges such as rapid technological development, expansion in high-growth markets, and increasing regulation. Success depends on expanding in high-growth geographies, developing innovative products, and improving operational efficiency.
Operational Strategy
- Significant investments are being made to address technological changes and globalize manufacturing, R&D, and customer-facing resources, particularly in high-growth markets, to improve operational efficiency and responsiveness to customer needs.
SEC Filing: DANAHER CORP /DE/ [ DHR ] - 10-Q - Jul. 21, 2025