Danaher Posts Fall in 1Q Earnings, Continues to Expects Lower Annual Sales

By Robb M. Stewart

Danaher continues to expect underlying sales will fall this year, though it said it had a good start to the year with improving order trends in its bioprocessing business.

The health-care and laboratory-supply company posted first-quarter earnings for the quarter ended Dec. 31 of $1.09 billion, or $1.45 a share, down from $1.45 billion, or $2.65 a share, a year earlier.

Excluding certain one-off items, Danaher logged adjusted earnings from continuing operations of $1.92 a share, beating the average Wall Street estimate of $1.72 a share

Sales for the first three months of the year fell 2.6% to $5.80 billion, but surpassed the $5.62 billion analysts expected.

For the second quarter, Danaher expects core revenue before items will be down mid-single digits on the same period last year. Full-year core sales are still expected to be down low-single digits, it said.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

April 23, 2024 06:46 ET (10:46 GMT)

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