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Diversified science and technology company Danaher (NYSE:DHR) will be announcing earnings results tomorrow morning. Here’s what to look for.
Danaher beat analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $6.54 billion, up 2.1% year on year. It was a strong quarter for the company, with a solid beat of analysts’ organic revenue estimates.
Is Danaher a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Danaher’s revenue to decline 3.6% year on year to $5.59 billion, a further deceleration from the 2.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.64 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Danaher has missed Wall Street’s revenue estimates three times over the last two years.
With Danaher being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for life sciences tools & services stocks. However, the whole sector has faced a sell-off over the last month with stocks in Danaher’s peer group down 11.2% on average. Danaher is down 10.7% during the same time and is heading into earnings with an average analyst price target of $255.02 (compared to the current share price of $186.83).
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