Company: DHR
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000313616-25-000088
Chunk: 35

Company: DANAHER CORP /DE/
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 1
Chunk 35
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149 141 Operating profit as a % of sales12.0 %13.5 %Depreciation as a % of sales2.7 %2.2 %Amortization as a % of sales8.9 %8.1 %

Sales Decline and Core Sales Decline

% Change Three-Month Period Ended March 28, 2025 vs. Comparable 2024 PeriodTotal sales decline (GAAP)(3.5)%Impact of:Acquisitions(2.0)%Currency exchange rates 1.5 %Core sales decline (non-GAAP)(4.0)%

25

Price increases in the segment did not have a significant impact on the change in sales on a year-over-year basis during the three-month period ended March 28, 2025 and are reflected as a component of core sales above.

Total segment sales decreased 3.5% during the three-month period ended March 28, 2025, primarily as a result of decreased core sales and to a lesser extent the impact of currency exchange rates, partially offset by acquisitions.  The year-over-year decrease in core sales in the three-month period was led by the genomics consumables business, primarily in North America.  The year-over-year core sales decline in the genomics consumables business was primarily driven by lower demand for the plasmids and protein product lines at two large customers, which more than offset increased demand for next generation sequencing products.  Lower demand in the academic and government end-markets reduced core sales in the protein consumables and in the flow cytometry and lab automation solutions businesses while in the filtration business, decreased demand in the energy-related end-market more than offset increased demand in the microelectronic end-market.  During the three-month period, year-over-year core sales increased in the microscopy and mass spectrometry businesses with increased demand for consumables.  The microscopy business also saw increased demand for equipment in the confocal product line. 

Operating Profit Performance

Operating profit margins decreased 150 basis points during the three-month period ended March 28, 2025 as compared to the comparable period of 2024.  

First quarter 2025 vs. first quarter 2024 operating profit margin comparisons were unfavorably impacted by:

•Lower first quarter 2025 core sales, the impact of product mix and the impact of reduced leverage in the segment’s operational and administrative cost structure - 250 basis points

•The incremental dilutive effect in 2025 of