“Our strong positioning and attractive end markets coupled with durable, high-recurring revenue business models, and the power of the Danaher business system supports our long-term expectations of high single-digit core revenue growth with a differentiated margin and cash flow profile.”

In context

“, which we believe gained market share in molecular testing again this quarter. Now across the portfolio, market conditions were largely as we anticipated. In our bioprocessing business, conditions in the U.S. and Europe continued to improve, and we were encouraged to see orders increase high single digits sequentially this quarter. In China, bioprocessing demand and underlying activity levers were stable sequentially, but remained weak as customers continued to manage liquidity. In Life Sciences, capital equipment investments remained constrained while recurring revenue was relatively stable. And in Diagnostics, we saw healthy demand globally across our businesses. As we move through this transitional period, we believe Danaher is well positioned for sustainable long-term value creation. Our strong positioning and attractive end markets coupled with durable, high-recurring revenue business models, and the power of the Danaher business system supports our long-term expectations of high single-digit core revenue growth with a differentiated margin and cash flow profile. So with that, let's take a closer look at our second quarter 2024 results. Sales were $5.7 billion in the second quarter and core revenue declined 3.5%. Geographically, core revenues in developed markets were down low single digits with strength across Diagnostics offset by declines in Biotechnology and Life Sciences. High growth markets declined high single digits, including a high-teens decline in China. Our growth profit margin for the second quarter was 59.7% and our adjusted operating profit margin of 27.3% was up 60 basis points as the favorable impact of cost savings initiatives more than offset lower volume. Adjusted diluted net earnings per common share of $1.72 were essentially flat year-over-year. We generated $1.1 billion of free cash flow in the quarter and $2.6 billion a yea”