Danaher Corporation reported its financial results for the first quarter of 2025, revealing a slight decline in revenue and net earnings compared to the same period in 2024. The company generated total sales of $5.741 billion, a decrease of 1.0% from $5.796 billion in the prior year. Net earnings for the quarter were $954 million, or $1.32 per diluted share, down from $1.088 billion, or $1.45 per diluted share, in the first quarter of 2024. The decline in earnings was attributed to increased operating expenses, investment losses, and higher net interest expenses.
In terms of segment performance, the Biotechnology segment saw a 5.8% increase in sales to $1.612 billion, driven by strong demand for consumables. Conversely, the Life Sciences segment experienced a 3.7% decline in sales to $1.680 billion, primarily due to decreased demand in the genomics consumables business. The Diagnostics segment also faced challenges, with sales falling 3.1% to $2.449 billion, largely due to reduced core sales in China. Overall, core sales remained flat, with acquisitions contributing a 0.5% increase and foreign currency fluctuations resulting in a 1.5% decrease.
Danaher did not engage in any acquisitions during the quarter but continued to evaluate potential opportunities that align with its strategic goals. The company repurchased approximately 4.5 million shares of its common stock for about $1.1 billion as part of its ongoing share repurchase program, which has approximately 12 million shares remaining for repurchase. The company’s total cash and cash equivalents stood at approximately $2.0 billion as of March 28, 2025.
Looking ahead, Danaher anticipates that end-market demand for the remainder of 2025 will remain consistent with the first quarter. However, the company is facing challenges from newly enacted tariffs, which are expected to incur incremental costs in the range of several hundred million dollars. Danaher plans to offset these costs through adjustments in its manufacturing footprint and supply chain, as well as productivity improvements. The company’s effective tax rate for the remainder of 2025 is projected to be around 17.0%, influenced by its global operations and the mix of earnings across jurisdictions.
About DANAHER CORP /DE/
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