Danaher Q3 Earnings Exceed Consensus Despite Weak Life Sciences Demand
Portfolio Pulse from Lekha Gupta
Danaher Corp reported Q3 FY23 adjusted EPS of $2.02, down from $2.56 a year ago, but surpassing the consensus of $1.87. Sales decreased 10.5% Y/Y to $6.87 billion, beating the consensus of $6.63 billion. The company completed the spin off of Veralto in the quarter. For Q4, Danaher expects non-GAAP base business core revenue from continuing operations to be down mid-single digits Y/Y. DHR shares are trading higher by 1.20% at $206.50 premarket on the last check Tuesday.
October 24, 2023 | 11:41 am
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Despite a year-on-year decrease, Danaher Corp's Q3 FY23 earnings and sales surpassed consensus estimates. The company also completed the spin off of Veralto. However, it expects a mid-single digit decrease in non-GAAP base business core revenue from continuing operations for Q4.
Danaher's Q3 earnings and sales beat estimates, which is a positive signal for investors and could lead to a short-term increase in stock price. However, the company's expectation of a decrease in Q4 revenue could potentially offset this positive impact in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100