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Home»Finance»Why Danaher Shares Are Falling Today
Finance

Why Danaher Shares Are Falling Today

April 25, 2023No Comments2 Mins Read
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Why Danaher Shares Are Falling Today
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  • Danaher Corp (NYSE: DHR) has logged Q1 FY23 adjusted EPS of $2.36, down from $2.76 a year ago, surpassing the consensus of $2.25.

  • Sales decreased 7% Y/Y to $7.17 billion, beating the consensus of $7.02 billion, with a 4% non-GAAP core revenue decrease, due to lower COVID-19 revenue and 6.0% non-GAAP base business core revenue growth.

  • Operating cash flow for Q1 FY23 reached $1.9 billion. Non-GAAP free cash flow reached $1.7 billion.

  • Rainer M. Blair, President & CEO, stated, “We had a good start to the year in the first quarter. Our team’s focused execution in a challenging operating environment helped deliver better-than-expected revenue, earnings and cash flow. We are especially pleased with the performance of our base business, which grew 6.0% in the first quarter.”

  • The gross margin remained almost unchanged at 61%.

  • According to a report last week, Danaher was no longer considering a takeover of contract manufacturer Catalent Inc (NYSE: CTLT) after expressing interest in buying the company earlier this year.

  • Outlook: For the Q2 and full year 2023, Danaher anticipates that non-GAAP base business core revenue growth will be up mid-single digits year-over-year.

  • For FY23, the company earlier expected non-GAAP base business core revenue to be up high-single digits.

  • Price Action: DHR shares are down 4.17% at $243.75 during the premarket session on the last check Tuesday.

Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article Why Danaher Shares Are Falling Today originally appeared on Benzinga.com

See also  Shares, dollar edge up after moderate US CPI data

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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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