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Danaher posts 5.5% rise in Q3 EPS, narrows 2019 EPS guidance

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Danaher posts 5.5% rise in Q3 EPS, narrows 2019 EPS guidance

Danaher Corp.'s third-quarter adjusted net earnings per share rose 5.5% to $1.16 from $1.10 in the same period a year ago.

The S&P Global Market Intelligence consensus normalized EPS estimate for the third quarter was $1.15.

The medical-device maker's sales for the quarter increased by about 5%, to $5.04 billion, from $4.85 billion, in the third quarter of 2018.

On a GAAP-basis, Danaher's net earnings amounted to $648.4 million, or 89 cents per share, compared to $663.7 million, or 93 cents per share, in the year-ago period.

For the full year 2019, the company lowered its non-GAAP adjusted net EPS guidance range to $4.74 to $4.77, from the previous estimate of $4.75 to $4.80. GAAP EPS is expected to be in the range of $3.38 to $3.41, compared to the previous guidance of $3.38 to $3.43.

Danaher said the EPS guidance for the year takes into account the divestment of the 19.4% noncontrolling stake in its dental spin-off Envista Holdings Corp., which closed an IPO in September, raising about $643.4 million.

The S&P Global Market Intelligence consensus normalized EPS estimate for 2019 is $4.79.