The earnings call presented a mixed sentiment with strong performance in the bioprocessing and diagnostics segments, particularly Cepheid, contrasted by challenges in China and the Life Sciences segment. Despite some positive indicators, such as sequential order growth in bioprocessing, the overall performance was tempered by declines in certain high-growth markets and continued caution among smaller customers.

Company Guidance

During Danaher Corporation's Q3 2024 earnings call, the company provided guidance indicating a stable outlook with expectations for a gradual recovery in certain segments. The full year 2024 guidance remains unchanged, anticipating a low single-digit core revenue decline and an adjusted operating profit margin of approximately 29%. For Q4, Danaher expects a low single-digit core revenue decline and an adjusted operating profit margin of about 30%. The company highlighted a 0.5% core revenue growth in Q3, with sales reaching $5.8 billion. Geographical performance varied, with North America and Western Europe showing low to mid-single-digit growth, while high-growth markets, particularly China, saw a decline. The bioprocessing business anticipates a low single-digit decline for the full year but expects high single-digit core revenue growth in Q4. Free cash flow for the quarter was $1.2 billion, contributing to a year-to-date total of $3.8 billion, reflecting a conversion ratio of 135%. Danaher remains optimistic about its long-term strategy, focusing on innovation and leveraging the Danaher Business System to drive future growth.

Bioprocessing Order Growth

Bioprocessing orders increased high single digits sequentially, marking the fifth consecutive quarter of sequential order improvement. The book-to-bill ratio improved to approximately 1.0.

Diagnostics Segment Growth

Core revenue in the Diagnostics segment increased by 5%, with Cepheid's core revenue increasing double digits, driven by both respiratory and non-respiratory assays.

Cepheid's Strong Performance

Cepheid's respiratory revenue reached approximately $425 million in the quarter, exceeding expectations. Non-respiratory reagent portfolio also saw mid-teens growth.

Free Cash Flow Performance

Generated $1.2 billion of free cash flow in the quarter and $3.8 billion year-to-date, resulting in a year-to-date free cash flow to net income conversion ratio of 135%.

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Danaher (DHR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DHR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 04, 2025	2024 (Q4)	2.15 / -	2.09	―	―	―
Oct 22, 2024	2024 (Q3)	1.57 / 1.71	2.02	-15.35% (-0.31)
Jul 23, 2024	2024 (Q2)	1.57 / 1.72	1.817	-5.34% (-0.10)
Apr 23, 2024	2024 (Q1)	1.72 / 1.92	2.092	-8.22% (-0.17)
Jan 30, 2024	2023 (Q4)	1.91 / 2.09	2.544	-17.85% (-0.45)
Oct 24, 2023	2023 (Q3)	1.81 / 2.02	2.269	-10.97% (-0.25)
Jul 25, 2023	2023 (Q2)	1.78 / 1.82	2.446	-25.72% (-0.63)
Apr 25, 2023	2023 (Q1)	2.00 / 2.09	2.446	-14.47% (-0.35)
Jan 24, 2023	2022 (Q4)	2.26 / 2.54	2.384	6.71% (+0.16)
Oct 20, 2022	2022 (Q3)	2.00 / 2.27	2.118	7.13% (+0.15)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DHR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 22, 2024	$272.09	$261.28	-3.97%
Jul 23, 2024	$250.64	$263.92	+5.30%
Apr 23, 2024	$235.60	$252.59	+7.21%
Jan 30, 2024	$233.20	$244.18	+4.71%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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