DANAHER REPORTS THIRD QUARTER 2017 RESULTS
WASHINGTON, D.C., October 19, 2017 -- Danaher Corporation (NYSE: DHR) today announced results for the third quarter of 2017. For the quarter ended September 29, 2017, net earnings were $572.1 million, or $0.81 per diluted share which represents a 42.0% year-over-year increase.
Non-GAAP adjusted diluted net earnings per share were $1.00. This represents a 15.0% increase over the comparable 2016 period. For the third quarter 2017, revenues increased 9.5% year-over-year to $4.5 billion, with non-GAAP core revenue growth of 3.0%.
For the fourth quarter of 2017, the Company anticipates that diluted net earnings per share will be in the range of $0.94 to $0.98 and non-GAAP adjusted diluted net earnings per share will be in the range of $1.12 to $1.16.
For the full year 2017, the Company anticipates that diluted net earnings per share will be in the range of $3.23 to $3.27. The Company is raising its 2017 non-GAAP adjusted diluted net earnings per share guidance, and now expects a range of $3.96 to $4.00.
Thomas P. Joyce, Jr., President and Chief Executive Officer, stated, “We are pleased with our third quarter performance, with the team delivering mid-teens adjusted earnings per share growth, strong margin expansion and cash flow, and improving revenue growth. With the Danaher Business System as our foundation, the team’s commitment to continuous improvement was a key driver of our results.”
Joyce continued, “Our performance in the quarter - combined with significant opportunities across the portfolio and our strong balance sheet - positions us to build on this momentum through the end of 2017 and into next year.”
Danaher will discuss its results during its quarterly investor conference call today starting at 8:00 a.m. ET. The call and an accompanying slide presentation will be webcast on the “Investors” section of Danaher’s website, www.danaher.com, under the subheading “Events & Presentations.” A replay of the webcast will be available in the same section of Danaher’s website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.
The conference call can be accessed by dialing 888-280-4443 within the U.S. or by dialing +1 719-325-4886 outside the U.S. a few minutes before the 8:00 a.m. ET start and telling the operator that you are dialing in for Danaher’s investor conference call (access code 1825026). A replay of the conference call will be available shortly after the conclusion of the call and until Thursday, October 26, 2017. You can access the replay dial-in information on the “Investors” section of Danaher’s website under the subheading “Events & Presentations.” In addition, presentation materials relating to Danaher’s results have been posted to the “Investors” section of Danaher’s website under the subheading “Quarterly Earnings.”
All results in this release reflect only continuing operations unless otherwise noted.
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in some of the most demanding and attractive industries, including health care, environmental and industrial. With more than 20 operating companies, Danaher’s globally diverse team of over 62,000 associates is united by a common culture and operating system, the Danaher Business System. For more information, please visit www.danaher.com.
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures. Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.
The following information was filed by Danaher Corp (DHR) on Thursday, October 19, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.