Mini-conglomerate Danaher Corporation (DHR) on Thursday posted better-than-expected first quarter earnings results, but its tepid second quarter and full-year forecasts could miss Wall Street’s view.
The Washington, DC-based company reported first quarter net income of $612.9 million, or 86 cents per share, compared with $429.4 million, or 63 cents per share, in the year-ago period. Excluding special items, adjusted profit from continuing operations was 73 cents per share.
Sales rose 31% from last year to $4.32 billion.
On average, Wall Street analysts expected a lower profit of 71 cents per share, on smaller revenue of $4.33 billion.
Looking ahead, DHR forecast second quarter earnings to range from 76 to 81 cents per share, which would missed Wall Street’s estimate of 82 cents. For the full year, Danaher expects $3.25 to $3.35 per share, up from a prior view of $3.20 to $3.35. Analysts currently expect $3.31 per share for the year.
Danaher shares fell 47 cents, or -0.9%, in premarket trading Thursday.
The Bottom Line
Shares of Danaher (DHR) have a .18% dividend yield, based on last night’s closing stock price of $54.69. The stock has technical support in the $50-$52 price area. The shares are trading near all-time highs.
Danaher Corporation (DHR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.