Danaher Easily Beats Q2 Street View With Growth From Base Business; FY22 Outlook Unchanged

Danaher Corp DHR has logged Q2 FY22 adjusted EPS of $2.76, up 12% Y/Y, surpassing the estimate of $2.35.
Sales increased 7.5% to $7.75 billion, with 9.5% non-GAAP core and 8.0% non-GAAP base business core revenue growth, beating the $7.32 billion estimate.
Operating cash flow reached $2 billion. Non-GAAP free cash flow reached $1.7 billion.
The gross margin remained unchanged at 60.9%, and the operating margin improved slightly from 27.8% a year ago to 28.4%.
Rainer M. Blair, President & CEO, stated, "We are pleased with our strong start to 2022. Our teams executed well in a challenging environment to deliver high-single-digit core revenue growth, double-digit adjusted earnings per share growth, and $2.0 billion of operating cash flow. We were particularly encouraged with the high-single-digit growth in our base business and believe we gained market share across the portfolio."
Outlook: For Q3 FY22, Danaher anticipates that non-GAAP base business core revenue growth will be in the high-single-digit percent range.
For FY22, the company reaffirms the non-GAAP base business core revenue growth outlook in high-single-digit percentages.
Price Action: DHR shares are up 3.72% at $265.52 during the premarket session on the last check Thursday.

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