Danaher beats The Street in the first quarter
Shares of Danaher Inc (NYSE:DHR) fell slightly today on first-quarter results that beat consensus forecasts.
The Washington, D.C.-based company posted earnings of $1.7 billion, or $2.31 per share, on sales of $7.7 billion for the three months ended April 1, 2022, for a gain of 1.3% on sales growth of 12.1%.
Adjusted to exclude one-time items, earnings per share were $2.76, 10¢ ahead of Wall Street, where analysts had forecast sales of $7.5 billion.
“We had a strong start to the year with results exceeding our initial expectations,” Danaher President and CEO Rainer M. Blair said in a press release. “Our team successfully navigated a dynamic environment to deliver double-digit base revenue growth, mid-single-digit growth in adjusted earnings per share and $2.0 billion in operating cash flow, despite difficult comparisons with previous years.
“This performance was broad-based, with all three of our segments seeing high or better single-digit base revenue growth. We believe that our strong execution, combined with investments in innovation, has led to market share gains in many of our businesses. »
Danaher expects full-year 2022 revenue growth to be in the single-digit percentage range.
Shares of DHR were down 0.5% at $278.85 at market open today. MassDevice’s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, rose 0.4%.