Company: DHR
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000313616-25-000182
Chunk: 160

Company: DANAHER CORP /DE/
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 2
Chunk 160
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 months of 2024 in connection with the acquisition of Abcam plc.  

Year-over-year gross profit margin decreased during the three-month period ended September 26, 2025 as compared to the comparable period in 2024 primarily due to product mix, the impact of currency exchange rates and tariff costs, partially offset by the impact of continued productivity improvement initiatives and higher year-over-year sales volumes.  Year-over-year gross profit margin remained consistent in the nine-month period ended September 26, 2025 as compared to the comparable prior year period as higher year-over-year sales volumes and the impact of product mix were offset by the impact of currency exchange rates and tariff costs.  Gross margin was also impacted by the acquisition-related charge recorded in the first nine months of 2024, net of the facility impairment recorded in the first nine months of 2025, both referenced above. 

OPERATING EXPENSES

Three-Month Period EndedNine-Month Period Ended($ in millions)September 26, 2025September 27, 2024September 26, 2025September 27, 2024Sales$6,053 $5,798 $17,730 $17,337 Selling, general and administrative expenses1,991 2,060 6,209 5,736 Research and development expenses378 383 1,160 1,142 SG&A as a % of sales32.9 %35.5 %35.0 %33.1 %R&D as a % of sales6.2 %6.6 %6.5 %6.6 %

SG&A expenses as a percentage of sales decreased year-over-year during the three-month period ended September 26, 2025 and increased year-over-year during the nine-month period ended September 26, 2025 as compared to the comparable periods in 2024.  The decrease during the three-month period was primarily due to the $222 million impairment charge recorded in the third quarter of 2024, partially offset by the $101 million of impairment charges incurred in the third quarter of 2025.  To a lesser extent, the decrease was driven by incremental year-over-year cost savings associated with continuing productivity improvement initiatives and cost structure improvements, net of a year-over-year increase in costs incurred for productivity improvement actions.  The increase in SG&A as a percentage of sales during the nine-month period ended September 26, 2025 was primarily