Danaher rises on Street-beating Q2

2022-07-21

Shares of DHR were up 7.7% at $275.61 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 1.3%. The Washington, D.C.-based company posted profits of $1.7 billion, or $2.25 per share, on sales of $7.8 million for the three months ended July 1, 2022, for a 4.9% bottom-line slide on sales growth of 7.4%. Adjusted to exclude one-time items, earnings per share were $2.76, 41¢ ahead of Wall Street, where analysts were looking for sales of $7.3 billion. “We are pleased with our strong start to 2022,” Danaher President and CEO Rainer M. Blair said in a news release. “Our teams executed well in a challenging environment to deliver high-single-digit core revenue growth, double-digit adjusted earnings per share growth and $2.0 billion of operating cash flow. “We were particularly encouraged with the high-single-digit growth in our base business and believe we gained market share across the portfolio.” Danaher said it now expects third-quarter revenue growth in the high-single-digit percent range for the third quarter, with full-year revenue growth also projected for the high-single-digit percent range.

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