DANAHER REPORTS SECOND QUARTER 2018 RESULTS
WASHINGTON, D.C., July 19, 2018 — Danaher Corporation (NYSE: DHR) today announced results for the second quarter 2018. For the quarter ended June 29, 2018, net earnings were $673.8 million, or $0.95 per diluted share which represents a 20.0% year-over-year increase.
Non-GAAP adjusted diluted net earnings per share were $1.15. This represents a 16.0% increase over the comparable 2017 period. For the second quarter 2018, revenues increased 10.5% year-over-year to $5.0 billion, with non-GAAP core revenue growth of 6.0%.
Year-to-date operating cash flow was $1.9 billion, representing a 18.5% increase over the comparable 2017 period. Year-to-date non-GAAP free cash flow increased 21.5% versus the prior year to $1.6 billion.
For the third quarter 2018, the Company anticipates that diluted net earnings per share will be in the range of $0.85 to $0.88 and non-GAAP adjusted diluted net earnings per share will be in the range of $1.05 to $1.08.
For the full year 2018, the Company now anticipates that diluted net earnings per share will be in the range of $3.64 to $3.71. The Company now expects its 2018 non-GAAP adjusted diluted net earnings per share to be in the range of $4.43 to $4.50 versus previous guidance of $4.38 to $4.45.
Thomas P. Joyce, Jr., President and Chief Executive Officer, stated, “We had an outstanding second quarter, with the team delivering results ahead of expectations. We achieved 6.0% core revenue growth, healthy margin expansion, mid-teens adjusted earnings per share growth, and strong cash flow. Our performance was broad-based, with four of our five platforms delivering mid-single digit or better core revenue growth, and we believe we are taking market share in many of our businesses.”
Joyce continued, “These market share gains are being driven by recent growth investments and the team’s strong new product innovation and commercial execution utilizing the Danaher Business System. Our performance in the quarter - combined with significant opportunities across the portfolio, and our solid balance sheet - positions us well for strong performance through 2018 and beyond.”
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 866-575-6539 within the U.S. or by dialing +1 323-794-2423 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 2517479). A replay of the conference call will be available shortly after the conclusion of the call and until July 26, 2018. 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 approximately 67,000 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
The following information was filed by Danaher Corp (DHR) on Thursday, July 19, 2018 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.