Q3 2024 Danaher Corp Earnings Call Transcript
Key Points
- Danaher Corp (DHR) delivered strong third quarter results with revenue, adjusted net earnings per share, and cash flow all exceeding expectations.
- The bioprocessing segment showed continued positive momentum with high single-digit sequential order growth for the fifth consecutive quarter.
- Cepheid's core revenue increased double digits, driven by strong demand for respiratory and non-respiratory assays.
- The company launched several impactful new innovations, enhancing its long-term competitive advantage.
- Danaher Corp (DHR) completed the acquisition of Genedata, strengthening its Life Sciences segment with advanced software solutions for drug discovery.
- Core revenue in the Life Sciences segment decreased by 2%, with a decline in capital equipment sales, particularly in China.
- High growth markets, including China, experienced a mid-single-digit decline in core revenues.
- The adjusted operating profit margin decreased by 10 basis points due to accelerated investments in innovation.
- Smaller bioprocessing customers remain cautious with investments despite a modest improvement in the funding environment.
- The company expects a low single-digit core revenue decline in its bioprocessing business for the full year 2024.
My name is Ashley and I will be your conference facilitator this morning. At this time, I would like to welcome everyone to the Danaher Corporation's third quarter 2024 earnings results conference call. (Operator Instructions)
I will now turn the call over to Mr John Bedford, Vice President of Investor relations. Mr Bedford. You may begin your conference.
Good morning, everyone and thanks for joining us on the call. With us today are Rainer Blair, our President and Chief Executive Officer and Matt McGrew, our Executive Vice President and Chief Financial Officer.
I'd like to point out that our earnings release Form 10-Q the slide presentation supplementing today's call, the reconciliations, and other information required by SEC Regulation G relating to the non-GAAP financial measures we'll be discussing during the call.
And a note containing details of historical and anticipated future financial performance are all available on the investors section of our website
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