Danaher Reports First Quarter 2026 Results

Original from: Danaher

Danaher Corporation (NYSE: DHR) today announced results for the first quarter 2026.  All results in this release reflect only continuing operations and period-to-period comparisons are year-over-year unless otherwise noted.

Key First Quarter 2026 Results

- Net earnings were $1.0 billion, or $1.45 per diluted common share.

- Non-GAAP adjusted diluted net earnings per common share grew 9.5% to $2.06.

- Revenues increased 3.5% year-over-year to $6.0 billion and non-GAAP core revenue increased 0.5% year-over-year.

- Operating cash flow was $1.3 billion and non-GAAP free cash flow was $1.1 billion.

- Strong Q1 earnings performance enabling increased full year 2026 adjusted diluted net earnings per common share guidance.

Rainer M. Blair, President and Chief Executive Officer, stated, "Our team executed well in the first quarter, which enabled us to accelerate innovation, drive productivity gains, and deliver nearly 10% adjusted EPS growth.  On the top line, we continued on a steady recovery path with strength in Bioprocessing and better-than-expected performance in Life Sciences largely offsetting the impact of a lighter-than-typical Q1 respiratory season at Cepheid."

Mr. Blair continued, "We were also pleased to announce our intention to acquire Masimo Corporation, a leading provider of mission-critical pulse oximetry and patient monitoring solutions in acute care settings.  We believe there are clear opportunities to enhance Masimo's performance through DBS and our global scale.  Looking ahead, the strength of our balance sheet and free cash flow generation provides additional capacity for value-creating capital deployment."

Second Quarter and Full Year 2026 Outlook

Danaher Corporation (the "Company") does not reconcile non-GAAP forecasted core sales growth, adjusted operating profit margin and adjusted diluted net earnings per common share to their respective, comparable measure prepared in accordance with U.S. generally accepted accounting principles (GAAP) because (except for estimated amortization of acquisition-related intangible assets of $1.7 billion for the year ending December 31, 2026 and the estimated impact of foreign currency on sales, which for the second quarter and full year 2026 is estimated to increase sales by 0.5% in both periods, assuming the currency exchange rates in effect as of March 27, 2026) the additional elements that would be reflected in any such GAAP measures (such as the impact of currency exchange rates on profitability, acquisitions, divested product lines, discrete tax adjustments, impairments, gains and losses on investments and the outcome of legal proceedings) are difficult to predict and estimate and are often dependent on future events that may be uncertain or outside of our control.  The impact of these additional elements could be material to our results computed in accordance with GAAP.

For the second quarter 2026, the Company anticipates that non-GAAP core revenue will increase in the low-single digit percent range year-over-year.

For full year 2026, the Company continues to expect that non-GAAP core revenue will increase in the 3% to 6% range year-over-year.  The Company is also increasing its full year adjusted diluted net earnings per common share guidance to a range of $8.35 to $8.55 versus previous guidance of $8.35 to $8.50.

Source: Danaher Reports First Quarter 2026 Results