Company: DHR
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000313616-25-000182
Chunk: 50

Company: DANAHER CORP /DE/
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 1
Chunk 50
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%28.0 %Depreciation as a % of sales4.1 %4.0 %4.2 %4.1 %Amortization as a % of sales1.9 %2.1 %2.0 %2.0 %

Sales Growth and Core Sales Growth

% Change Three-Month Period Ended September 26, 2025 vs. Comparable 2024 Period% Change Nine-Month Period Ended September 26, 2025 vs. Comparable 2024 PeriodTotal sales growth (GAAP)4.0 %1.0 %Impact of:Divestitures0.5 %0.5 %Currency exchange rates (1.0)%— %Core sales growth (non-GAAP)3.5 %1.5 %

Price decreases in the segment of 1.5% and 1.0%, attributable to the impact of sales promotions and factors discussed below, negatively impacted the year-over-year change in sales during both the three and nine-month periods ended September 26, 2025, respectively, and are reflected as a component of core sales above.

Total segment sales increased 4.0% during the three-month period primarily as a result of increased core sales and to a lesser extent, currency exchange rates, net of the impact of divestitures.  Total segment sales increased 1.0% during the nine-month period primarily as a result of increased core sales, net of the impact of divestitures.  In the three and nine-month periods, the increase in segment core sales was primarily driven by increased year-over-year demand for consumables.  Geographically, increased core sales in North America and most other major markets were partially offset by decreased core sales in China in both periods attributable to the pricing impact of China’s volume-based procurement program and healthcare reimbursement changes.  

During the three-month period, core sales growth in the molecular diagnostics business increased year-over-year primarily due to increased core sales in respiratory tests.  During the nine-month period, core sales increased year-over-year as increased core sales of non-respiratory tests more than offset decreased core sales of respiratory tests.  The Company believes that third quarter 2025 demand for respiratory tests was driven in part by customers purchasing in preparation for the upcoming respiratory season, which may adversely impact demand for such tests in the fourth quarter of 2025.  In the segment’s clinical diagnostics businesses core sales increased during both the three and nine