Danaher falls after cutting annual revenue growth forecast
DHR•Peers also weaken
Peer Agilent Technologies A.N slipped 4.8% before the bell, while Thermo Fisher Scientific TMO.N, Revvity RVTY.N and Illumina ILMN.O declined about 2% each.
As of the last close, DHR was down 12.2% year to date.
Quarterly results beat estimates
Danaher reported second-quarter adjusted profit of $1.94 per share, above analysts' average estimate of $1.83, according to LSEG data.
Second-quarter revenue was $6.27 billion, beating expectations of $6.10 billion.
The company forecast third-quarter adjusted core revenue growth of 2% to 3% year over year, below Street expectations of 3.5%, according to RBC Capital Markets analysts.
Danaher also raised its annual adjusted earnings forecast to a range of $8.45 to $8.60 per share, compared with its previous forecast of $8.35 to $8.55.
Shares fall after revenue growth outlook is cut
Shares of lab equipment maker Danaher DHR.N fell 11.6% to $177.75 premarket after the company cut its annual revenue growth forecast.
The company now expects its 2026 adjusted core revenue to increase between 3% and 4%, compared with previous expectations of 3% to 6% year over year.
