Danaher Corporation Reports Q3 Beat Above its Preannouncement

Danaher Corporation (NYSE:DHR) reported its Q3 results, with EPS of $2.56 coming in better than the Street estimate of $2.26. Revenue was $7.66 billion, compared to the Street estimate of $7.14 billion.

According to the analysts at RBC Capital, the beat above the company’s September 14 positive preannouncement was paced by broad portfolio strength and upside COVID test revenues. However, bioprocessing orders were down a disappointing 20% year-over-year, against tough comps.

For Q4/22, the company expects non-GAAP base business core revenue to be in the high-single-digit percent range. For fiscal 2022, the company raised its non-GAAP core revenue growth estimates to the high-single-digit percent range.