Danaher's 2024 Results: A Resilient Life Sciences and Diagnostics Innovator

Danaher Corporation (NYSE: DHR), a leading global life sciences and diagnostics innovator, reported its fourth quarter and full-year 2024 results on January 29, 2025. The company's strategic focus on life sciences and diagnostics has driven strong financial performance, despite a dynamic market environment and the transition of the pandemic to an endemic state. Danaher's ability to innovate, execute on its DBS-driven strategy, and make strategic acquisitions has enabled it to deliver better-than-expected revenue and expand its margins.

Key Fourth Quarter 2024 Results
Danaher reported net earnings of $1.1 billion, or $1.49 per diluted common share, and non-GAAP adjusted diluted net earnings per common share of $2.14. Revenues increased 2.0% year-over-year to $6.5 billion, with non-GAAP core revenue increasing 1.0%. Operating cash flow was $2.0 billion, and non-GAAP free cash flow was $1.5 billion.

Key Full Year 2024 Results
For the full year 2024, Danaher reported net earnings of $3.9 billion, or $5.29 per diluted common share, and non-GAAP adjusted diluted net earnings per common share of $7.48. Revenues of $23.9 billion were flat year-over-year, with non-GAAP core revenue decreasing 1.5%. Operating cash flow was $6.7 billion, and non-GAAP free cash flow was $5.3 billion.

First Quarter and Full Year 2025 Outlook
Danaher anticipates that non-GAAP core revenue will decline low-single digits year-over-year in the first quarter 2025. For the full year 2025, the company expects that non-GAAP core revenue will increase approximately 3% year-over-year.

Danaher's strategic focus on life sciences and diagnostics has driven its strong financial performance in 2024. The company's advanced science and technology, along with its proven ability to innovate, help enable faster, more accurate diagnoses and reduce the time and cost needed to discover, develop, and deliver life-changing therapies. This focus, combined with Danaher's commitment to continuous improvement and scientific excellence, sets the stage for sustainable long-term value creation and meaningful improvements in human health.



The acquisition of Abcam in 2023 has further enhanced Danaher's portfolio and expanded its capabilities in the highly attractive proteomics market. This acquisition, along with Danaher's other strategic initiatives, has strengthened the company's position in the life sciences and diagnostics sector and supports its long-term growth trajectory.

In conclusion, Danaher's 2024 results demonstrate the company's resilience as a life sciences and diagnostics innovator. Despite a dynamic market environment and the transition of the pandemic to an endemic state, Danaher has delivered strong financial performance through its ability to innovate, execute on its DBS-driven strategy, and make strategic acquisitions. Looking ahead, Danaher's focus on life sciences and diagnostics, combined with its commitment to continuous improvement and scientific excellence, sets the stage for sustainable long-term value creation and meaningful improvements in human health.