- Wednesday, October 16, 2024
Healthcare company Danaher (DHR) surpassed Wall Street expectations in its recently released third-quarter earnings report.
Danaher reported earnings of $2.02 per share for the third quarter, ending on September 29, with a total revenue of $6.87 billion. These figures exceeded analyst estimates of $1.81 per share and $6.6 billion in revenue.
Comparing year-over-year performances, Danaher's earnings for the same period last year were $2.56 per share, accompanied by a revenue of $7.66 billion.
CEO Rainer Blair expressed satisfaction with the results, noting that revenue in the third quarter exceeded expectations. He mentioned that the biotechnology sector performed as anticipated, and higher respiratory testing revenue more than compensated for slightly softer demand in life sciences.
Looking ahead to fiscal year 2023, Danaher anticipates a slight decline in non-GAAP base business core revenue from continuing operations compared to the previous year.
Following the release of the earnings report, shares of Danaher rose by 1.2% in premarket trading, reaching $206.50. However, the stock has experienced a 13% decrease since the start of this year.
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