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Danaher 1Q Profit Rises on Core-Business Results, Covid-19 Efforts

By Matt Grossman

 

Danaher Corp. Thursday logged year-over-year profit and revenue growth in the latest quarter, as the company's contributions to anti-Covid-19 efforts contributed to its results.

The Washington, D.C.-based medical company reported net earnings of $2.29 a share, up from 81 cents a share in last year's first quarter. The company's total net earnings were $1.7 billion, compared with $595 million a year earlier.

On an adjusted basis, Danaher's profit was $2.52 a share. Analysts polled by FactSet were expecting adjusted earnings of $1.76 a share.

Revenue improved to $6.86 billion, from $4.34 billion in 2020's first quarter. Analysts had forecast revenue of $6.29 billion.

Chief Executive Rainer Blair said that Danaher's results were driven both by strength in its base business and by the company's contributions to Covid-19 vaccines, therapeutics and diagnostic tests.

The company forecast that in the second quarter, its core-business revenue will grow at a rate in the mid-20% range year over year, with core revenue growth at a high-teens percentage rate in 2021 overall.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

April 22, 2021 06:33 ET (10:33 GMT)

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