Danaher 3Q Earnings, Sales Decline but Beat Estimates

By Denny Jacob

Danaher posted a decline in top and bottom line results in the latest quarter, though the figures exceeded analysts' expectations.

The health-care and laboratory-supply company logged net earnings attributable to common shareholders of $1.13 billion, or $1.51 a share, for the third quarter ended Sept. 29, down from $1.55 billion, or $2.10 a share, a year earlier. Adjusted earnings were $2.02 a share, above analysts' estimates of $1.56 a share.

Sales declined to $6.87 billion from $7.66 billion. Analysts polled by FactSet had expected $6.6 billion.

Chief Executive Rainer Blair said revenue in the quarter came in ahead of the company's expectations as its biotechnology segment performed as expected, while higher respiratory testing revenue more than offset slightly softer-than-anticipated demand in its life sciences unit.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

October 24, 2023 06:26 ET (10:26 GMT)

Danaher (NYSE:DHR)
Historical Stock Chart
From Mar 2024 to Apr 2024