DANAHER REPORTS THIRD QUARTER 2018 RESULTS
WASHINGTON, D.C., October 18, 2018 - Danaher Corporation (NYSE: DHR) today announced results for the third quarter 2018. For the quarter ended September 28, 2018, net earnings were $663.7 million, or $0.93 per diluted share which represents a 15.0% year-over-year increase.
Non-GAAP adjusted diluted net earnings per share for the third quarter were $1.10. This represents a 10.0% increase over the comparable 2017 period. For the third quarter 2018, revenues increased 7.0% year-over-year to $4.9 billion, with non-GAAP core revenue growth of 6.5%.
For the fourth quarter 2018, the Company anticipates that diluted net earnings per share will be in the range of $1.04 to $1.07 and non-GAAP adjusted diluted net earnings per share will be in the range of $1.25 to $1.28.
For the full year 2018, the Company is increasing its diluted net earnings per share guidance to a range of $3.72 to $3.75 versus previous guidance of $3.64 to $3.71. The Company is increasing its 2018 non-GAAP adjusted diluted net earnings per share guidance to a range of $4.49 to $4.52 versus previous guidance of $4.43 to $4.50.
Thomas P. Joyce, Jr., President and Chief Executive Officer, stated, “We are very pleased with our performance in the third quarter, as the team maintained strong momentum and delivered outstanding results. We achieved 6.5% core revenue growth, solid operating margin expansion and double-digit adjusted earnings per share growth. Four of our five platforms delivered mid-single digit or better core revenue growth, and we believe our investments in innovation and commercial execution are driving market share gains in many of our businesses.”
Joyce continued, “Our recent performance is a testament to the team’s execution and drive for continuous improvement. We believe the strength and differentiation of our portfolio - combined with the power of the Danaher Business System - provides us with the foundation to deliver sustainable, long-term shareholder value.”
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 877-260-1479 within the U.S. or by dialing +1 334-323-0522 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 2512928). A replay of the conference call will be available shortly after the conclusion of the call and until October 25, 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 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 18, 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.