Danaher Corporation 8-K
PositiveEarningsGuidance raised
Improving end markets accelerated core growth outside respiratory testing; FY2026 adjusted EPS guidance rose to $8.57–$8.62.
Filed 2026-10-20 17:43 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results with Q4 and FY2026 guidance. Revenue grew 8.5% Y/Y, while non-GAAP core revenue growth excluding respiratory testing accelerated to 5.5%; management cited improving end-market trends and Danaher Business System execution. FY2026 adjusted diluted EPS guidance was raised.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Revenue | $6.55B, +8.5% Y/Y | $18.8B, +6.0% Y/Y |
| Operating profit | $1.25B, +7.9% Y/Y | $3.72B, +16.6% Y/Y |
| Net earnings from continuing operations | $1.21B, +33% Y/Y | $3.11B, +29% Y/Y |
| Diluted EPS from continuing operations (GAAP) | $1.71, vs $1.27 | $4.38, vs $3.37 |
| Adjusted diluted EPS from continuing operations (non-GAAP) | $2.11, +11.5% Y/Y | $6.11, +9.7% Y/Y |
| Operating cash flow from continuing operations | $1.89B, +13.5% Y/Y | $4.74B, +10.5% Y/Y |
| Free cash flow from continuing operations (non-GAAP) | $1.63B, +19.0% Y/Y | $3.98B, +13.0% Y/Y |
- Non-GAAP core revenue growth was 3.0%, or 5.5% excluding respiratory testing. Acquisitions and divestitures reduced sales growth by 6.5 percentage points; tariff refunds to customers added 1.0 point. Respiratory testing was a 250 bp headwind to core growth.
- Total net earnings, including $28M from discontinued operations, were $1.24B.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Core sales growth, total company (non-GAAP) | Q4 2026 | ≈+3.0% Y/Y | — | — |
| Core sales growth excluding respiratory testing (non-GAAP) | Q4 2026 | +4.0% to +5.0% Y/Y | — | — |
| Core sales growth, Biotechnology (non-GAAP) | Q4 2026 | +Mid-single digit | — | — |
| Core sales growth, Life Sciences (non-GAAP) | Q4 2026 | +4.0% to +5.0% | — | — |
| Core sales growth, Diagnostics (non-GAAP) | Q4 2026 | +Up slightly | — | — |
| Respiratory testing impact on core sales growth | Q4 2026 | ≈+150 bp headwind | — | — |
| Adjusted operating profit margin (non-GAAP) | Q4 2026 | ≈29.5% | — | — |
| Core sales growth, total company (non-GAAP) | FY2026 | ≈+2.5% Y/Y | — | — |
| Core sales growth, Biotechnology (non-GAAP) | FY2026 | +Mid-single digit | — | — |
| Core sales growth, Life Sciences (non-GAAP) | FY2026 | +3.0% to +4.0% | — | — |
| Core sales growth, Diagnostics (non-GAAP) | FY2026 | ≈Flat | — | — |
| Respiratory testing impact on core sales growth | FY2026 | +Low-single digit headwind | — | — |
| Core sales growth excluding respiratory testing (non-GAAP) | FY2026 | +Mid-single digit | — | — |
| Adjusted diluted EPS from continuing operations (non-GAAP) | FY2026 | $8.57-$8.62 | $8.45-$8.60 | Raised |
| Currency exchange impact on sales | Q4 2026 | ≈Flat | — | — |
| Currency exchange impact on sales | FY2026 | ≈+1.0% | — | — |
| Amortization of acquisition-related intangible assets | Q4 2026 | ≈$(500)M | — | — |
| Amortization of acquisition-related intangible assets | FY2026 | ≈$(1,900)M | — | — |
| Corporate expense | Q4 2026 | ≈$(90)M | — | — |
| Corporate expense | FY2026 | ≈$(355)M | — | — |
| Interest expense, net | Q4 2026 | ≈$(120)M | — | — |
| Interest expense, net | FY2026 | ≈$(305)M | — | — |
| Effective tax rate | Q4 2026 | ≈17.0% | — | — |
| Effective tax rate | FY2026 | ≈17.0% | — | — |
| Average adjusted diluted shares | Q4 2026 | ≈707M | — | — |
| Average adjusted diluted shares | FY2026 | ≈708M | — | — |
Investor Takeaways
- Q4 core sales growth excluding respiratory testing versus its guided range, and whether respiratory testing tracks the expected headwind.
- FY2026 adjusted diluted EPS versus the raised guidance range.
The summary is written by an AI model reading the filing.
Model 005 · prompt v95 · 2026-10-21 14:37:18Z