Danaher reported a solid first quarter with accelerating revenue growth and strong adjusted EPS performance, driven by operational execution and strategic acquisitions. The company raised its full-year EPS guidance, reflecting confidence in its ongoing recovery and ability to generate free cash flow for value-creating capital deployment.
Non-GAAP adjusted diluted net earnings per common share grew 9.5% to $2.06.
positiveRevenues increased 3.5% year-over-year to $6.0 billion.
positiveOperating cash flow was $1.3 billion and non-GAAP free cash flow was $1.1 billion.
positiveFull year 2026 adjusted diluted net earnings per common share guidance increased to a range of $8.35 to $8.55.
positiveNon-GAAP core revenue increased only 0.5% year-over-year, indicating a slower underlying business trend compared to GAAP revenue growth.
attentionLife Sciences segment core sales growth was flat at 0.5% year-over-year, and Diagnostics segment core sales declined 4.0% year-over-year.
attentionCurrency exchange rates had a negative impact of 3.0% on total company sales.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
Biotechnology | N/A | — | — | — | +7.0% |
Life Sciences | N/A | — | — | — | +0.5% |
Diagnostics | N/A | — | — | — | -4.0% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Our team executed well in the first quarter, which enabled us to accelerate innovation, drive productivity gains, and deliver nearly 10% adjusted EPS growth.
On the top line, we continued on a steady recovery path with strength in Bioprocessing and better-than-expected performance in Life Sciences largely offsetting the impact of a lighter-than-typical Q1 respiratory season at Cepheid.
We were also pleased to announce our intention to acquire Masimo Corporation, a leading provider of mission-critical pulse oximetry and patient monitoring solutions in acute care settings.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.