Danaher Corporation (NYSE:DHR) offered downbeat earnings forecast for the second quarter. Similarly, for the full year, the company continued to expect its earlier earnings outlook thus depressing investors sentiments on the stock. However, the company’s earnings and top line came in above the expectations for the first quarter.
Danaher expects to achieve adjusted earnings between 95 cents and 98 cents a share in the second quarter. This fell short of analysts’ expectations of 99 cents a share in the same period. On a GAAP basis, the company expects its EPS to be 77 – 80 cents.
Similarly, for the full year, the company continued to see its adjusted EPS between $3.85 and $3.95 a share while predicting GAAP EPS $3.13 – $3.23. Analysts are looking for an EPS of $3.95 for the same period.
Danaher president and CEO, Thomas Joyce, commented, “We are off to a good start in 2017. During the first quarter, our two most recent large acquisitions, Pall and Cepheid (CPHD), performed very well. We drove share gains in a number of our operating companies and achieved high-single-digit adjusted earnings per share growth. We also continued to reinvest in our businesses to enhance our long-term growth trajectory, and we feel well-positioned to benefit from a number of compelling market drivers across the portfolio.”
For the first quarter, the company delivered net earnings of $483 million or 69 cents a share. On an adjusted basis, it would have earned 85 cents a share that came in above estimates by a penny. Similarly, the company’s revenue grew 7 percent to $4.2 billion, which is also better than the Street analysts’ expectations of $4.17 billion.
In pre-market trading, the stock is trading up 1.46 percent.