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Danaher reports second-quarter adjusted earnings of $1.72 a share on revenue of $5.74 billion.
Danaher (DHR) came out with quarterly earnings of $1.72 per share, beating the Zacks Consensus Estimate of $1.57 per share. This compares to earnings of $2.05 per share a year ago.
Danaher beat Wall Street estimates for second-quarter profit and revenue on Tuesday, driven by strong demand for its genetic testing services, sending shares of the life sciences firm up nearly 8% in premarket trading.
WASHINGTON , July 23, 2024 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) (the "Company") today announced results for the quarter ended June 28, 2024. All results in this release reflect only continuing operations unless otherwise noted.
Danaher (DHR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Danaher Corporation stock saw a high single-digit percentage increase from April to mid-June, but has since given up most of the gains. Concerns about inventory destocking in the bioprocessing market have impacted investor sentiment, but expectations are already priced in. Despite short-term challenges, Danaher's medium to long-term prospects remain positive, with good growth starting FY25.
Danaher's (DHR) second-quarter earnings are likely to be aided by strength in the Diagnostics and Life Sciences segment.
DH Diagnostics LLC Centers aim to accelerate drug development by speeding and streamlining development and commercialization of companion diagnostics. Clinical Laboratory Improvement Amendments (CLIA) and College of American Pathologists (CAP)-certified laboratories will bring technologies and assays from multiple Danaher subsidiaries together under a single roof.
Danaher (DHR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Here is how Danaher (DHR) and Honeywell International Inc. (HON) have performed compared to their sector so far this year.