Danaher 1Q Profit Rises on Core-Business Results, Covid-19 Efforts
April 22 2021 - 6:48AM
Dow Jones News
By Matt Grossman
Danaher Corp. Thursday logged year-over-year profit and revenue
growth in the latest quarter, as the company's contributions to
anti-Covid-19 efforts contributed to its results.
The Washington, D.C.-based medical company reported net earnings
of $2.29 a share, up from 81 cents a share in last year's first
quarter. The company's total net earnings were $1.7 billion,
compared with $595 million a year earlier.
On an adjusted basis, Danaher's profit was $2.52 a share.
Analysts polled by FactSet were expecting adjusted earnings of
$1.76 a share.
Revenue improved to $6.86 billion, from $4.34 billion in 2020's
first quarter. Analysts had forecast revenue of $6.29 billion.
Chief Executive Rainer Blair said that Danaher's results were
driven both by strength in its base business and by the company's
contributions to Covid-19 vaccines, therapeutics and diagnostic
tests.
The company forecast that in the second quarter, its
core-business revenue will grow at a rate in the mid-20% range year
over year, with core revenue growth at a high-teens percentage rate
in 2021 overall.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
April 22, 2021 06:33 ET (10:33 GMT)
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