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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