Life Science Giant Danaher's Q2 Earnings Beat Estimates On 'Sustained Positive Momentum In Bioprocessing Business', Maintains Guidance
Portfolio Pulse from Vandana Singh
Danaher Corp (NYSE:DHR) reported a 3% year-over-year decrease in Q2 sales to $5.743 billion, beating the consensus estimate of $5.59 billion. Adjusted EPS was $1.72, surpassing the expected $1.57. The company highlighted positive momentum in its bioprocessing business and strong performance at Cepheid. Despite a decline in biotechnology and life sciences sales, diagnostic sales increased. Danaher maintained its guidance for fiscal year 2024, expecting a low-single-digit decline in non-GAAP core revenue and a 29% operating margin. DHR stock rose 7.20% to $268.96 following the announcement.
July 23, 2024 | 1:59 pm
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Danaher Corp reported better-than-expected Q2 earnings with $5.743 billion in sales and $1.72 adjusted EPS. The company highlighted strong performance in its bioprocessing business and Cepheid. Despite declines in biotechnology and life sciences sales, diagnostic sales increased. Danaher maintained its guidance for fiscal year 2024.
Danaher's Q2 earnings beat expectations, driven by strong performance in its bioprocessing business and Cepheid. The company's ability to maintain its guidance for fiscal year 2024 despite some declines in specific segments is a positive indicator. The stock's 7.20% increase reflects investor confidence in the company's performance and outlook.
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IMPORTANCE 90
RELEVANCE 100