Danaher 3Q Profit, Sales Rise
October 22 2020 - 6:54AM
Dow Jones News
By Dave Sebastian
Danaher Corp.'s profit and sales for the third quarter grew, the
company said Thursday.
For the quarter ended Oct. 2, the conglomerate on Thursday
posted net income before preferred dividends of $883.5 million, or
$1.16 a share, compared with $668 million, or 84 cents a share, in
the year-ago period.
One of the company's units earlier this month said its Covid-19
antibody test got emergency use authorization from the Food and
Drug Administration. The company didn't immediately provide details
of Covid-19 effects in its earnings release Thursday.
Adjusted earnings were $1.72 a share. Analysts polled by FactSet
were looking for earnings of $1.01 a share, or $1.36 a share on an
adjusted basis.
Sales rose to $5.88 billion from $4.38 billion in the comparable
quarter last year. Analysts were looking for $5.51 billion. Core
revenue, including Cytiva, rose 14%. The company had expected
third-quarter core revenue growth, including Cytiva, to be in the
mid- to high-single digit range.
Danaher said it expects fourth-quarter core revenue growth,
including Cytiva, to be in the low-double digit range.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 22, 2020 06:39 ET (10:39 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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