first quarter 2016 earnings release april 21 2016 forward
play

FIRST QUARTER 2016 EARNINGS RELEASE April 21, 2016 Forward Looking Statements Statements in this presentation that are not strictly historical, including any statements regarding events or developments that we believe or anticipate will or may

0 downloads 6 Views 493 KB Size Report
  1. FIRST QUARTER 2016 EARNINGS RELEASE April 21, 2016

  2. Forward Looking Statements Statements in this presentation that are not strictly historical, including any statements regarding events or developments that we believe or anticipate will or may occur in the future, are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, our ability to successfully consummate the separation of Danaher into two public companies and realize the anticipated benefits of that transaction, deterioration of or instability in the economy, the markets we serve and the financial markets, the impact of our restructuring activities on our ability to grow, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our ability to successfully identify, consummate and integrate appropriate acquisitions and successfully complete divestitures and other dispositions, our ability to integrate the recent acquisition of Pall Corporation and achieve the anticipated benefits of that transaction, contingent liabilities relating to acquisitions and divestitures, our compliance with applicable laws and regulations (including regulations relating to medical devices and the healthcare industry) and changes in applicable laws and regulations, our ability to effectively address cost reductions and other changes in the healthcare industry, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, the impact of our debt obligations on our operations and liquidity, our relationships with and the performance of our channel partners, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, labor matters, international economic, political, legal, compliance and business factors, disruptions relating to man-made and natural disasters, security breaches or other disruptions of our information technology systems and pension plan costs. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2015 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the first quarter of 2016. These forward-looking statements speak only as of the date of this release and the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise. With respect to any non-GAAP financial measures included in the following presentation, the accompanying information required by SEC Regulation G can be found in the “Investors” section of Danaher’s web site, www.danaher.com, under the heading “Financial Information” and subheading “Quarterly Earnings.” In addition, in addressing various financial metrics the presentation describes certain of the more significant factors that impacted year-over-year performance. Please refer to our earnings release, Quarterly Report on Form 10-Q for the first quarter of 2016 and the other related presentation materials supplementing today’s call for additional factors that impacted year-over-year performance, all of which are available in the “Investors” section of Danaher’s web site under the heading “Financial Information” and subheading “Quarterly Earnings.” In this presentation, all figures relate to Danaher’s continuing operations and revenue amounts are in millions.

  3. First Quarter 2016 Performance Summary ADJUSTED DILUTED NET REVENUE EARNINGS PER SHARE +15.0% Core +0.5% +18.5% Acquisitions +16.5% FX -2.0% $5,387 $1.08 $4,695 $0.91 Q1 2015 Q1 2016 Q1 2015 Q1 2016 Throughout this presentation, with respect to Revenues, “Acquisitions” refers to the results of businesses owned for less than one year. For the definitions of “Adjusted Diluted Net Earnings Per Share,” “Core,” and “FX,” please refer to the accompanying information required by Regulation G, located on the “Investors” section of www.danaher.com, under the subheadings “Financial Information” and “Quarterly Earnings.”

  4. First Quarter 2016 Performance Summary OPERATING PROFIT MARGIN GROSS MARGINS Q1 2015 – 52.6% +30 bps + 50 bps Core +45 bps Q1 2016 – 53.1% Acquisitions -40 bps Separation Costs -15 bps Other +40 bps SG&A (as a % of Revenue) Q1 2015 – 30.1% + 70 bps Q1 2016 – 30.8% 16.4% 16.1% R&D (as a % of Revenue) Q1 2015 – 6.4% - 50 bps Q1 2016 – 5.9% Q1 2015 Q1 2016 Throughout this presentation, “Acquisitions,” as it relates to Operating Profit Margins, reflects the impact from businesses owned for less than one year. “Other” refers to acquisition-related charges associated with fair value adjustments to acquired inventory recorded in 2015 in connection with the Nobel Biocare acquisition. For further detail, please refer to the accompanying information required by Regulation G, located on the “Investors” section of www.danaher.com, under the subheadings “Financial Information” and “Quarterly Earnings.”

  5. First Quarter 2016 Performance Summary $M FY 2014 FY 2015 Q1 2015 Q1 2016 OPERATING CASH FLOW $3,618 $3,828 $530 $773 CAP EX 581 633 117 151 FREE CASH FLOW $3,037 $3,195 $413 $622

  6. First Quarter 2016 Test & Measurement REVENUE OPERATING PROFIT MARGIN -5.5% -140 bps Core -5.0% Core -135 bps Acquisitions +0.5% Acquisitions -5 bps FX -1.0% $679 22.3% 20.9% $640 Q1 2015 Q1 2016 Q1 2015 Q1 2016

  7. First Quarter 2016 Environmental REVENUE OPERATING PROFIT MARGIN +4.0% -220 bps Core +3.5% Core -155 bps Acquisitions +3.0% Acquisitions -65 bps FX -2.5% 19.5% $856 $823 17.3% Q1 2015 Q1 2016 Q1 2015 Q1 2016

  8. First Quarter 2016 Life Sciences & Diagnostics REVENUE OPERATING PROFIT MARGIN +42.0% +220 bps Core +2.5% Core +205 bps Acquisitions +41.5% Acquisitions +15 bps FX -2.0% $2,412 14.9% $1,696 12.7% Q1 2015 Q1 2016 Q1 2015 Q1 2016

  9. First Quarter 2016 Dental REVENUE OPERATING PROFIT MARGIN -1.0% +540 bps Core +0.5% Core +250 bps Acquisitions +0.5% Acquisitions -10 bps FX -2.0% Other +300 bps $662 14.5% $656 9.1% Q1 2015 Q1 2016 Q1 2015 Q1 2016

  10. First Quarter 2016 Industrial Technologies REVENUE OPERATING PROFIT MARGIN -1.5% -30 bps Core -1.5% Core +25 bps Acquisitions +1.5% Acquisitions -55 bps FX -1.5% 24.6% $835 $823 24.3% Q1 2015 Q1 2016 Q1 2015 Q1 2016

  11. 2016 Outlook Guidance

  12. Q & A

Recommend Documents


third quarter 2016 earnings release october 27 2016
Third Quarter 2016 Earnings Release

Third Quarter 2016 Earnings Release October 27, 2016 Forward-Looking

second quarter 2016 earnings release july 25 2016 forward
SECOND QUARTER 2016 EARNINGS RELEASE

SECOND QUARTER 2016 EARNINGS RELEASE July 25, 2016 Forward Looking Statements

third quarter 2016 earnings release october 20 2016
THIRD QUARTER 2016 EARNINGS RELEASE

THIRD QUARTER 2016 EARNINGS RELEASE October 20, 2016 Forward Looking

consolidated edison inc
CONSOLIDATED EDISON, INC. 3 rd Quarter

CONSOLIDATED EDISON, INC. 3 rd Quarter 2016 Earnings Release Supplement

sensata second quarter 2016
SENSATA SECOND QUARTER 2016 EARNINGS

JULY 26, 2016 SENSATA SECOND QUARTER 2016 EARNINGS PRESENTATION Forward

3 rd quarter 2016 earnings release presentation november
3 rd Quarter 2016 Earnings Release

3 rd Quarter 2016 Earnings Release Presentation November 1, 2016 1 Safe

2 nd quarter 2016 earnings release presentation july 28
2 nd Quarter 2016 Earnings Release

2 nd Quarter 2016 Earnings Release Presentation July 28, 2016 1 Safe Harbor

rexnord rexnord third quarter 2016 earnings release
REXNORD REXNORD Third Quarter 2016

REXNORD REXNORD Third Quarter 2016 Earnings Release Earnings Release February

second quarter 2016 earnings call
SECOND QUARTER 2016 EARNINGS CALL

Q2 2016 EARNINGS CALL SECOND QUARTER 2016 EARNINGS CALL August 17, 2016

first quarter 2016 earnings call
First Quarter 2016 Earnings Call April

First Quarter 2016 Earnings Call April 20, 2016 Forward-Looking Statements

construction of a global content media and communication
CONSTRUCTION OF A GLOBAL CONTENT,

May 2017 CONSTRUCTION OF A GLOBAL CONTENT, MEDIA AND COMMUNICATION LEADER

investor presentation
Investor Presentation January 2020

Investor Presentation January 2020 BUILDING GREAT LEADERS BUILDING GREAT

investor presentation
Investor Presentation January 2020

Investor Presentation January 2020 Disclaimer GENERAL This presentation does

pbf energy inc
PBF Energy Inc. June 2019 1 Safe

PBF Energy Inc. June 2019 1 Safe Harbor Statements This presentation

acquisition of ctv
Acquisition of CTV Analyst Conference

Acquisition of CTV Analyst Conference Call September 10, 2010 Safe harbour

axa to acquire xl group
AXA to acquire XL Group Creating the

AXA to acquire XL Group Creating the new AXA March 5, 2018 IMPORTANT LEGAL

creating tomorrow s today
Creating Tomorrows Today Investor

Creating Tomorrows Today Investor Presentation Acquisition of Bal Seal

investor
Investor Presentation May 2019 Safe

Monro, Inc. Investor Presentation May 2019 Safe Harbor Statement and

acquisition of red lake
ACQUISITION OF RED LAKE 26 NOVEM BER

ACQUISITION OF RED LAKE 26 NOVEM BER 2019 IMPORTANT NOTES AND DISCLAIMER

clavicle fractures ac sc case 79 year old active female
Clavicle Fractures AC SC Case 79 year

Clavicle Fractures AC SC Case 79 year old active female fell while skiing

shoulder
Shoulder to Shoulder Heal like a

Shoulder to Shoulder Heal like a Champion Robert Peterson, MD Orthopedic

disclosures disclosures
Disclosures Disclosures No personal

6/10/2013 Evaluating Injuries of the Evaluating Injuries of the Evaluating