Danaher Posts Higher Profits, Margins On Increased Sales

Danaher Corporation DHR logged a higher profit for the second quarter as its sales grew.
Adjusted EPS increased 71% Y/Y to $2.46, surpassing the estimate of $2.05.
Sales increased 36.5% to $7.2 billion, with 31.5% non-GAAP core revenue growth, beating the $6.7 billion estimate.
Operating cash flow was $2.1 billion, representing a 46.5% increase and non-GAAP free cash flow was $1.8 billion, +41%.
The gross margin expanded to 61% from 54% a year ago, operating margin too increased to 28.3% from 23.1%.
Outlook: For Q3, the Company anticipates that non-GAAP core revenue growth will be in the mid-to high-teens percent range.
For FY21, the Company anticipates that the non-GAAP core revenue growth rate, including Cytiva will be approximately 20%.
Price Action: DHR shares are down 0.3% at $278.78 during the premarket session on the last check Thursday.

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