Snapshot
Danaher Corp /De/ reported $6.05B of revenue in Q3 2025, up 4.4% year over year, with diluted EPS of $1.27 and an operating margin of 19.1%.
- Revenue
- $6.05B
- YoY growth
- +4.4%
- Diluted EPS
- $1.27
- Operating margin
- 19.1%
$6.05B
Revenue
+4.4%
YoY growth
$1.27
Diluted EPS
19.1%
Operating margin
01 Key takeaways
What management said
- •We continued to see a modest recovery in pharma R&D spending, though it remains below historical levels in academic and government demand was stable sequentially but remained soft amid ongoing uncertainty around research funding.
- •Sales were $6.1 billion in the third quarter and we delivered 3% core revenue growth.
- •Core revenues in high growth markets were up low single digits as solid performance outside of China was offset by a mid single digit decline in China.
- •Growth in our biotechnology and life sciences businesses in China was more than offset by declines in diagnostics due to volume based procurement and reimbursement policy changes implemented in the last 12 months.
- •Adjusted diluted net earnings per common share of $1.89 were up approximately 10% year-over-year.
- •During the quarter, we deployed approximately $2 billion of capital towards the repurchase of 10 million shares of Danaher common stock.
- •In biotechnology, Cytiva launched the ÄKTA readyflux TFF system 500, a fully automated benchtop tangential flow filtration system developed to meet growing demand for efficient low volume processing.
- •Core revenue in discovery and medical grew low single digits in the quarter.
- •Growth in medical and lab filtration was partially offset by declines in protein research instrumentation, where academic research customers continue to face funding constraints.
- •Core revenue in bioprocessing grew high single digits with double digit growth in consumables partially offset by declines in equipment.
- •Consumables growth was driven by robust demand for commercialized therapies at our large pharma and CDMO customers.
- •Equipment revenue grew sequentially but declined in the high teens versus prior year as expected.
SourcesCompany financials · earnings call
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