Danaher Corp (DHR) exceeded third-quarter sales expectations, with a 3% year-over-year increase driven by a continued bioprocessing recovery. Despite the positive news, capital expenditures remain weak, and guidance for 2024 anticipates a decline in non-GAAP core revenue. Analysts are closely watching the fourth-quarter exit rate for bioprocessing and potential insights into 2025.
Danaher Corporation (DHR) exceeded analysts’ expectations for third-quarter revenue and earnings, fueled by strong performance in its bioprocessing business. However, the company issued a cautious outlook for 2024, predicting a decline in core revenue due to a challenging macroeconomic environment. Despite the near-term forecast, Danaher remains optimistic about the long-term growth potential of its bioprocessing segment.
Shares of Danaher Corp (DHR) dropped in early trading on Tuesday following an analyst report predicting a gradual recovery for the company starting in 2025. Stifel analyst Jacob Johnson believes Danaher’s focus on life sciences will drive high-single-digit growth in the long term, despite recent headwinds.
Life sciences toolmaker Danaher (DHR) reported better-than-expected financial results for the first quarter of 2024. Despite an 18% decline in its Biotechnology division, the company’s Life Sciences and Diagnostics divisions recorded growth, resulting in a 3% overall revenue decline compared to the same period last year. The company also reported strong operating cash flow. Danaher’s competitors, such as Repligen, Bio-Rad, and Thermo Fisher Scientific, are expected to be closely watched in light of these positive results.
