Medical device manufacturer Danaher (DHR) reported third-quarter financial results that beat Wall Street forecasts on both the top and bottom lines.
The company reported Q3 earnings per share (EPS) of $2.02 U.S. on revenue of $6.87 billion U.S.
That result was ahead of analyst estimates of $1.81 U.S. a share and revenue of $6.6 billion U.S.
The company attributed the earnings beat to higher revenue from its respiratory testing equipment, which offset softer sales in its life sciences division.
However, even though Danaher’s Q3 results beat Wall Street estimates, they were lower than a year earlier.
In the same period of 2022, the company reported earnings of $2.56 U.S. a share and revenue of $7.66 billion U.S.
Danaher said that it anticipates its full-year 2023 revenue to be down slightly year-over-year.
The stock of Danaher has declined 15% year-to-date to trade at $196.84 U.S. per share.
