Danaher reports strong first quarter 2018 results

Danaher Corporation (DHR) posted strong performance for the first quarter of 2018, which was broad-based across most of its platforms, and came in ahead of the company’s expectations. Revenues rose 11.5% to $4.7 billion compared to the first quarter of 2017.

Net earnings grew 16% year-over-year to $566.6 million or $0.80 per diluted share during Q1 2018. Adjusted diluted EPS grew 16.5% to $0.99. Adjusted EPS came in ahead of market expectations.

Operating cash flow increased 48% and adjusted free cash flow rose 72% year-over-year. The company achieved core revenue growth of 5.5% along with a 9.5% growth in the Diagnostics segment. The growth in Diagnostics was led by Cepheid, a medical diagnostics company Danaher acquired in 2016

On the downside, the company saw softness in markets like China and the Middle East, which has been impacting its business.

Danaher completed the acquisition of Integrated DNA Technologies Inc. last week, expanding its operations into the genomics consumables space.

For the second quarter of 2018, Danaher expects GAAP EPS to be $0.88 to $0.91 and adjusted EPS to be $1.07 to $1.10.

For the full year of 2018, Danaher expects GAAP EPS of $3.62 to $3.69 and adjusted EPS of $4.38 to $4.45.