Danaher Corporation reported flat consolidated revenues of $23.9 billion for the fiscal year ending December 31, 2024, compared to $23.9 billion in 2023. Core sales decreased by 1.5%, primarily due to declines in the Biotechnology and Life Sciences segments, which were partially offset by growth in the Diagnostics segment. The company’s net earnings from continuing operations were approximately $3.9 billion, or $5.29 per diluted share, down from $4.2 billion, or $5.65 per diluted share, in the previous year. The decline in profitability was attributed to intangible asset impairments and increased operating expenses.
In 2024, Danaher completed three acquisitions for a total cash consideration of $558 million, which were aimed at enhancing its Life Sciences segment. The company recorded $305 million in goodwill related to these acquisitions. Additionally, the company underwent a significant strategic shift with the separation of its Environmental & Applied Solutions business, resulting in the formation of Veralto Corporation, which was completed on September 30, 2023. This separation allowed Danaher to focus on its core segments while distributing Veralto shares to its stockholders.
Operationally, Danaher reported a total employee headcount of approximately 63,000 as of December 31, 2024, with a significant presence in North America and high-growth markets. The company’s sales distribution showed that 43% of revenues came from North America, while high-growth markets accounted for 29%. The Diagnostics segment saw a 3% increase in core sales, driven by strong demand for molecular diagnostics, particularly in North America, while the Biotechnology segment experienced a 4.5% decline in core sales due to reduced customer investments and inventory adjustments.
Looking ahead, Danaher anticipates implementing a productivity improvement initiative aimed at generating annual pre-tax savings of at least $150 million. This initiative is expected to be broad-based, targeting various segments including Diagnostics and operations in China. The company remains focused on leveraging its Danaher Business System to enhance operational efficiency and drive long-term growth, despite facing challenges such as fluctuating market conditions and competitive pressures.
About DANAHER CORP /DE/
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