Danaher Corporation (NYSE: DHR) today announced results for the quarter ended September 26, 2025.

Key Third Quarter 2025 Results

• Net earnings were $908 million, or $1.27 per diluted common share and non-GAAP adjusted diluted net earnings per common share were $1.89.
• Revenues increased 4.5% year-over-year to $6.1 billion and non-GAAP core revenue increased 3.0% year-over-year.
• Operating cash flow was $1.7 billion and non-GAAP free cash flow was $1.4 billion.

Rainer M. Blair, President and Chief Executive Officer, stated, “We are encouraged by our third quarter results. DBS-driven execution paired with continued momentum in our bioprocessing business and better-than-anticipated respiratory revenue at Cepheid enabled us to exceed our revenue, earnings and cash flow expectations.”

Mr. Blair continued, “We remain intensely focused on delivering value for our customers, associates, and shareholders. We’re investing in breakthrough innovation, enhancing our commercial execution, and driving meaningful productivity gains across our businesses. We believe these efforts will strengthen our long-term competitive position and help to solve some of the world’s most difficult healthcare challenges.”

Full Year 2025 Outlook

The Company does not reconcile Non-GAAP forecasted core sales growth and adjusted diluted net earnings per common share to their respective, comparable measure prepared in accordance with U.S. generally accepted accounting principles (GAAP) (except for estimated amortization of acquisition-related intangible assets of $1.7 billion for the year ending December 31, 2025 and the estimated impact of foreign currency on sales, which for the full year 2025 is estimated to increase sales by 1.0%, assuming the currency exchange rates in effect as of September 26, 2025) because the additional elements that would be reflected in any such GAAP measures (such as the impact of currency exchange rates on profitability, acquisitions, divested product lines, discrete tax adjustments, impairments, gains and losses on investments and the outcome of legal proceedings) are difficult to predict and estimate and are often dependent on future events that may be uncertain or outside of our control. The impact of these additional elements could be material to our results computed in accordance with GAAP.

For full year 2025, the Company is maintaining its full year adjusted diluted net earnings per common share guidance range of $7.70 to $7.80. This includes an expectation that non-GAAP core revenue will grow low-single digits year-over-year for the full year 2025.

ABOUT DANAHER

Danaher is a leading global life sciences and diagnostics innovator, committed to accelerating the power of science and technology to improve human health. Our businesses partner closely with customers to solve many of the most important health challenges impacting patients around the world. Danaher’s advanced science and technology – and proven ability to innovate – help enable faster, more accurate diagnoses and help reduce the time and cost needed to sustainably discover, develop and deliver life-changing therapies. Focused on scientific excellence, innovation and continuous improvement, our approximately 63,000 associates worldwide help ensure that Danaher is improving quality of life for billions of people today, while setting the foundation for a healthier, more sustainable tomorrow. Explore more at www.danaher.com.

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