Danaher Cuts Fiscal Year Targets, Gives 2Q Outlook
April 18 2019 - 6:59AM
Dow Jones News
By Kimberly Chin
Danaher Corp. (DHR) has cut its full-year 2019 guidance to
reflect the dilution regarding its equity offering to fund its
$21.4 billion acquisition of General Electric Co.'s (GE) GE
BioPharma.
For the year, Danaher now anticipates earnings of $3.34 to $3.42
a share, down from its previous forecast of $3.85 to $3.95. It
expects adjusted profit of $4.72 to $4.80, a cut from its prior
guidance of $4.75 to $4.85. Analysts polled by Refinitiv were
expecting full-year earnings of $3.98 a share and adjusted earnings
of $4.79 a share.
For the current quarter, the company projects earnings between
89 cents and 92 cents a share and adjusted earnings between $1.13
and $1.16 a share. Analysts expect earnings of 99 cents a share and
adjusted earnings of $1.19 a share for the second quarter.
Shares of Danaher, which has gained 21% for the year, were
mostly flat in premarket trading on low trading volumes.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
April 18, 2019 06:44 ET (10:44 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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