Danaher Corporation (NYSE: DHR) (the “Company”) today announced results for the second quarter 2021. All results in this release reflect only continuing operations unless otherwise noted.
For the quarter ended July 2, 2021, net earnings were $1.7 billion, or $2.28 per diluted common share which represents an 84.0% year-over-year increase from the comparable 2020 period. Non-GAAP adjusted diluted net earnings per common share were $2.46 which represents a 71.0% increase over the comparable 2020 period.
Revenues increased 36.5% year-over-year to $7.2 billion, with 31.5% non-GAAP core revenue growth.
Operating cash flow for the second quarter was $2.1 billion, representing a 46.5% increase year-over-year, and non-GAAP free cash flow was $1.8 billion, representing a 41.0% increase year-over-year.
For the third quarter 2021, the Company anticipates that non-GAAP core revenue growth will be in the mid- to high-teens percent range.
For the full year 2021, the Company now anticipates that the non-GAAP core revenue growth rate including Cytiva will be approximately 20%.
Rainer M. Blair, President and Chief Executive Officer, stated, “Broad-based strength across the portfolio helped us deliver over 30% core revenue growth and outstanding earnings per share growth and cash flow generation. We continued to make significant growth investments during the quarter, strengthening our organic growth trajectory and enhancing our portfolio with the announcement of our pending acquisition of Aldevron.”
Blair continued, “We believe the combination of our leading portfolio and DBS-driven execution differentiates Danaher today and provides a strong foundation for sustainable, long-term outperformance.”
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher’s globally diverse team of approximately 69,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life’s Potential. For more information, please visit www.danaher.com.