Company: DHR
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0000313616-25-000153
Chunk: 106

Company: DANAHER CORP /DE/
Filing Date: 2025-07-22
Form: 10-Q
Item: Item 8
Chunk 106
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 program.  The Company excludes the effect of currency translation from this measure because currency translation is not under management’s control, is subject to volatility and can obscure underlying business trends.  The Company excludes the effect of acquisitions and divestiture-related items because the nature, size, timing and number of acquisitions and divestitures can vary dramatically from period-to-period and between the Company and its peers and can also obscure underlying business trends and make comparisons of long-term performance difficult.

Throughout this discussion, references to sales growth or decline refer to the impact of both price and unit sales and references to productivity improvements generally refer to improved cost-efficiencies resulting from the ongoing application of the Danaher Business System.

Sales Growth and Core Sales Growth

% Change Three-Month Period Ended June 27, 2025 vs. Comparable 2024 Period% Change Six-Month Period Ended June 27, 2025 vs. Comparable 2024 PeriodTotal sales growth (GAAP)3.5 %1.0 %Impact of:Currency exchange rates (2.0)%— %Core sales growth (non-GAAP)1.5 %1.0 %

27

Operating Profit Performance 

Operating profit margins decreased 750 basis points from 20.3% during the three-month period ended June 28, 2024 to 12.8% for the three-month period ended June 27, 2025.  

Second quarter 2025 vs. second quarter 2024 operating profit margin comparisons were unfavorably impacted by:

•Second quarter 2025 impairment charge related to a trade name in the Life Sciences segment.  Refer to Note 8 to the accompanying Consolidated Condensed Financial Statements for additional information - 730 basis points

•Incremental dilutive effect in 2025 of acquired businesses and the impact of a product line disposition which did not qualify as discontinued operations - 30 basis points

Second quarter 2025 vs. second quarter 2024 operating profit margin comparisons were favorably impacted by:

•Higher 2025 core sales and changes in leverage from the Company’s operations and administrative cost structure, net of the impact of currency exchange rates - 10 basis points

Operating profit margins decreased 410 basis points from 21.5% during the six-month period ended June 28, 2024 to 17.4% for the six-month period ended June 27, 2025.  

Year-to-date 2025 vs. year-to-date 2024 operating profit margin