Danaher (DHR) Announces Decline in Expected Earnings

Danaher Corporation (NYSE: DHR) is set to announce its fourth quarter 2023 performance at the J.P. Morgan Healthcare Conference tomorrow. Rainer M. Blair, the President and CEO, will address the company's estimated financials for the period.

For the fourth quarter of 2023, the company anticipates a decrease in estimated revenues in the low-double digit percent range year-over-year. Moreover, the estimated non-GAAP core revenue for the same period is expected to decline in the low-double digit percent range, surpassing the previously announced guidance of a high-teens percent decline. Similarly, the estimated non-GAAP base business core revenue is projected to decline in the mid-single digit percent range, aligning with the company's earlier guidance.

In anticipation of the earnings call for the fourth quarter and full year 2023 on January 30, 2024, Danaher is gearing up to provide insights into its financial performance and outlook. The company, known for its commitment to accelerating the power of science and technology to enhance human health, operates as a leading global life sciences and diagnostics innovator. With a workforce of over 65,000 associates worldwide, Danaher remains dedicated to improving the quality of life for billions of people today while laying the groundwork for a healthier and more sustainable future.

Following this announcement, the company's stock experienced a -0.2% movement and is currently trading at a price of $234.34 per share.

The company's full 8-K submission is available here.

2018 2019 2020 2021 2022 2023
Revenue (MM) $19,893 $17,911 $22,284 $29,453 $31,471 $29,566
Revenue Growth n/a -9.96% 24.42% 32.17% 6.85% -6.05%
Operating Margins 15% 18% 19% 25% 28% 24%
Net Margins 13% 17% 16% 22% 23% 20%
Net Income (MM) $2,651 $3,008 $3,646 $6,433 $7,209 $5,917
Net Interest Expense (MM) $137 $108 $275 $238 $211 $272
Depreciation & Amort. (MM) $562 $564 $637 $718 $738 $727
Earnings Per Share $3.74 $4.05 $4.89 $8.61 $9.66 $7.94
EPS Growth n/a 8.29% 20.74% 76.07% 12.2% -17.81%
Diluted Shares (MM) 710 726 719 737 737 746
Free Cash Flow (MM) $3,438 $3,316 $5,417 $7,064 $7,367 $6,776
Capital Expenditures (MM) $584 $636 $791 $1,294 $1,152 $1,310
Current Ratio 1.47 5.19 1.86 1.43 1.89 2.26
Total Debt (MM) $9,792 $21,941 $21,215 $22,184 $20,268 $24,607
Net Debt / EBITDA 2.49 0.53 3.12 2.39 1.51 1.6

Danaher benefits from growing revenues and increasing reinvestment in the business, decent operating margins with a positive growth rate, and a strong EPS growth trend. The company's financial statements show irregular cash flows and healthy leverage.

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