Danaher 2Q Profit, Sales Rise
July 23 2020 - 06:50AM
Dow Jones News
By Dave Sebastian
Danaher Corp.'s profit and sales for the second quarter rose,
the company said.
For the quarter ended July 3, the conglomerate on Thursday
posted net income before preferred dividends of $927.3 million, or
$1.24 a share, compared with $731.3 million, or 97 cents a share,
in the year-ago period.
One of the company's units last month said its Covid-19 antibody
test got emergency use authorization from the Food and Drug
Administration. The company didn't immediately provide details of
Covid-19 effects in its earnings release Thursday.
"We are tackling the challenges presented by the Covid-19
pandemic head-on, providing critical diagnostic testing
capabilities and accelerating our customers' pursuit of new
vaccines and treatments," President and Chief Executive Thomas
Joyce said.
Adjusted earnings were $1.44 a share. Analysts polled by FactSet
were looking for earnings of 74 cents a share, or $1.09 a share on
an adjusted basis.
Sales rose 19.2% to $5.3 billion from the comparable quarter
last year. Analysts were looking for $4.95 billion. Core revenue,
including Cytiva, rose 3.5%.
The company said it expects third-quarter core revenue growth,
including Cytiva, to be in the mid- to high-single digit range.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 23, 2020 06:35 ET (10:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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