Snapshot
Danaher Corp /De/ reported $5.95B of revenue in Q1 2026, up 3.7% year over year, with diluted EPS of $1.45 and an operating margin of 22.6%.
- Revenue
- $5.95B
- YoY growth
- +3.7%
- Diluted EPS
- $1.45
- Operating margin
- 22.6%
$5.95B
Revenue
+3.7%
YoY growth
$1.45
Diluted EPS
22.6%
Operating margin
01 Key takeaways
What management said
- •Our team executed well in a dynamic environment, leveraging the Danaher Business System to accelerate innovation, drive productivity gains, and deliver better than expected adjusted EPS growth.
- •While we have limited direct revenue or supply chain exposure to the region, we're mindful of potential pressures from a sustained conflict.
- •With the strength of our balance sheet and robust free cash flow generation, we're well positioned for further capital deployment going forward.
- •Sales were $6 billion in the first quarter, and core revenue was up 0.5% year-over-year, with a 2.5% headwind from respiratory revenue partially offsetting 3% core revenue growth in the rest of the business.
- •Geographically, core revenue in developed markets were down slightly, with a mid-single-digit decline in North America and a mid-single-digit increase in Western Europe.
- •High growth markets were up low single digits with solid performance across most regions, including mid-single digit growth in China.
- •In China, better than expected growth in biotechnology and life sciences more than offset the expected high single-digit decline in diagnostics, which continued to be impacted by volume-based procurement and reimbursement policy changes.
- •Adjusted diluted net earnings per common share of $2.06 were up 9.5% year-over-year.
- •We generated $1.1 billion of free cash flow in the quarter, resulting in a free cash flow to net income conversion ratio of 105%.
- •Turning to capital deployment, in February, we announced our intention to acquire Masimo, a leading provider of mission critical pulse oximetry and patient monitoring solutions in acute care settings.
- •Now alongside M&A, we made significant progress on organic growth initiatives across Danaher, including new product introductions and strategic partnerships.
- •This closes a historical gap in Beckman's immunoassay test menu and positions Beckman to accelerate new placements, customer wins, and growth as the DxI 9000 rollout continues.
SourcesCompany financials · earnings call
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