Danaher 3Q Profit, Sales Rise

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 [e-mail]

(END) Dow Jones Newswires

October 22, 2020 06:39 ET (10:39 GMT)

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