DANAHER reports results for the second quarter of 2022
The second quarter of 2022's results was released today by Danaher Corporation. All results in this release, unless otherwise stated, are based solely on ongoing operations.
For the quarter ended July 1, 2022, net earnings were $1.7 billion, or $2.25 per diluted common share which represents a 1.5% year-over-year decrease from the comparable 2021 period. Non-GAAP adjusted diluted net earnings per common share were $2.76 which represents a 12.0% increase over the comparable 2021 period.
Revenues increased 7.5% year-over-year to $7.8 billion. Non-GAAP core revenue growth was 9.5%, including 8.0% non-GAAP base business core revenue growth.
Operating cash flow for the second quarter was $2.0 billion and non-GAAP free cash flow was $1.7 billion.
For the third quarter 2022, the Company anticipates that non-GAAP base business core revenue growth will be in the high-single digit percent range. For the full year 2022, the Company continues to expect non-GAAP base business core revenue growth will be in the high-single digit percent range.
Rainer M. Blair, President and Chief Executive Officer, stated, "We are pleased with our strong start to 2022. Our teams executed well in a challenging environment to deliver high-single digit core revenue growth, double-digit adjusted earnings per share growth and $2.0 billion of operating cash flow. We were particularly encouraged with the high-single digit growth in our base business and believe we gained market share across the portfolio."
"Danaher is comprised of high-quality franchises in attractive end markets with meaningful recurring revenues and durable business models. We believe the combination of our strong portfolio and talented team—all powered by the Danaher Business System—provides a strong foundation in today's dynamic operating environment and positions us well for the balance of 2022 and beyond."
Danaher will discuss its results during its quarterly investor conference call today starting at 8:00 a.m. ET. The call and an accompanying slide presentation will be webcast on the "Investors" section of Danaher's website, www.danaher.com, under the subheading "Events & Presentations" and additional materials will be posted to the same section of Danaher's website. A replay of the webcast will be available in the same section of Danaher's website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.
The conference call can be accessed by dialing 877-830-2598 within the U.S. or by dialing +1-785-424-1743 outside the U.S. a few minutes before 8:00 a.m. ET starts and tell the operator that you are dialing in for Danaher's earnings conference call (Conference ID: DHRQ222). A replay of the conference call will be available shortly after the conclusion of the call and until August 4, 2022. You can access the replay dial-in information on the "Investors" section of Danaher's website under the subheading "Events & Presentations." In addition, presentation materials relating to Danaher's results have been posted to the "Investors" section of Danaher's website under the subheading "Quarterly Earnings."
Source: Danaher news