DHR · 10-Q · 2026Q2

DANAHER CORP /DE/

Filed 2026-07-21 · Industrials · View original filing on EDGAR

Ranked Events

• Liquidity and Cash PositionImportance 83 · Surprise 82
  Danaher generated approximately $2.9 billion of operating cash flow in the first six months of 2026 and held approximately $4.3 billion of cash and cash equivalents as of June 26, 2026. Financing activities provided…
• Outstanding IndebtednessImportance 83 · Surprise 82
  Financing activities provided approximately $7.3 billion of cash during the first six months of 2026, compared with $1.5 billion of cash used in 2025. Danaher received $3.673 billion from borrowings with maturities of…
• Masimo AcquisitionImportance 71 · Surprise 60
  On June 10, 2026, Danaher acquired all outstanding Masimo common stock for approximately $9.8 billion in cash, or $180 per share, net of cash acquired. Masimo develops monitoring technologies, sensors and patient…
• Operating Margin DriversImportance 66 · Surprise 74
  Consolidated operating margin increased 520 basis points year over year to 18.0% in the second quarter of 2026 and increased 280 basis points to 20.2% for the first six months. The improvement was primarily driven by…
• Interest Expense TrendsImportance 63 · Surprise 64
  Second-quarter 2026 interest expense was $107 million, up $36 million from the comparable 2025 period. Six-month interest expense was $170 million, up $27 million year over year. The increases were primarily caused by…
• Geographic Revenue PerformanceImportance 54 · Surprise 40
  Second-quarter 2026 sales in developed markets increased 2% year over year, although core sales declined slightly because of lower sales in Western Europe and North America. High-growth-market sales increased 15% year…
• Operating Expense TrendsImportance 50 · Surprise 58
  Second-quarter SG&A expense decreased to $2.072 billion from $2.360 billion, and six-month SG&A decreased to $3.932 billion from $4.218 billion. SG&A as a percentage of sales fell to 33.1% from 39.8% in the second…
• Diagnostics Demand and PricingImportance 49 · Surprise 32
  Diagnostics sales increased 7.0% in the second quarter and 2.5% in the first half of 2026, but core sales excluding respiratory testing grew 5.0% and 4.0%, respectively. Clinical diagnostics demand increased, led by…
• Life Sciences Demand TrendsImportance 49 · Surprise 32
  Life Sciences sales increased 5.5% in the second quarter and 4.5% in the first half of 2026, driven primarily by consumables and secondarily by equipment demand. Applied, pharmaceutical, biopharmaceutical and…
• Biotechnology Demand TrendsImportance 49 · Surprise 32
  Biotechnology segment sales increased 4.0% in the second quarter and 7.5% in the first half of 2026, with core sales growth of 2.5% and 4.5%, respectively. Consumables led growth in both periods, while equipment sales…
• Gross Margin DriversImportance 49 · Surprise 32
  Second-quarter gross profit increased to $3.611 billion from $3.523 billion, but gross margin declined 170 basis points to 57.6%. Six-month gross profit increased to $7.202 billion from $7.034 billion, while gross…
• Revenue Performance and MixImportance 49 · Surprise 32
  Second-quarter 2026 revenue increased 5.5% year over year to $6.265 billion, while core sales increased 3.0% and core sales excluding respiratory testing increased 4.5%. Six-month revenue increased 4.5% to $12.216…
• Capital Return ProgramImportance 47 · Surprise 22
  Danaher repurchased $894 million of common stock during the first six months of 2026, compared with $1.078 billion in the 2025 period. Cash dividend payments increased to $509 million from $423 million year over year.…
• Supply Chain Tariff ImpactImportance 47 · Surprise 60
  In February 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA) did not authorize certain tariffs imposed by the U.S. administration. On March 4, 2026, the U.S. Court of…
• Operating Cash Flow TrendsImportance 43 · Surprise 32
  Operating cash flow increased 8% year over year to approximately $2.9 billion for the first six months of 2026 from $2.637 billion in 2025. The increase included $390 million of higher net earnings. Noncash charges…
• Manufacturing and CapacityImportance 42 · Surprise 14
  Danaher’s capital expenditures totaled $506 million in the six months ended June 26, 2026, up $13 million year over year. Capital investment supports increased manufacturing capacity, production of instruments used in…
• Middle East Conflict ImpactImportance 37 · Surprise 42
  The Middle East conflict caused delays and higher logistics costs for deliveries to customers in the region during the first half of 2026, although Danaher did not experience a material supply-chain or operational…
• Supply Chain and LogisticsImportance 37 · Surprise 42
  Danaher sources parts and materials globally through a diversified supply chain. The company experienced no material supply-chain or operating interruption in the first half of 2026 from the Middle East conflict, but…
• Capital ExpendituresImportance 35 · Surprise 14
  Danaher spent $506 million on property, plant and equipment during the six months ended June 26, 2026, compared with $493 million in the 2025 period. Capital expenditures increased $13 million year over year. Spending…
• Income Tax Rate ChangesImportance 35 · Surprise 48
  Danaher’s effective tax rate was 19.3% for the three-month period ended June 26, 2026, compared with 15.3% for the comparable 2025 period. Net discrete tax charges of $21 million increased the three-month 2026…

Revenue by Product (in millions)

Revenue by Geography (in millions)