Danaher (NYSE:DHR) this week posted fourth-quarter results that beat the overall consensus on Wall Street.
The Washington, D.C.-based company reported profits of $2.2 billion, or $2.99 per share, on sales of $8.4 billion for the three months ended Dec. 31, 2022, for a bottom-line gain of 24.8% on sales growth of 2.7% compared with Q4 2021.
Earnings per share were 45¢ ahead of The Street, where analysts were looking for sales of $7.9 billion.
“2022 was another great year for Danaher. Broad-based strength across the portfolio helped us deliver nearly 10% core revenue growth and double-digit earnings per share growth. Our team executed well in a challenging operating environment, enabling us to expand operating margins and generate strong cash flows. We believe this strong execution, paired with our investments in innovation drove market share gains in many of our businesses,” President and CEO Rainer Blair said in a news release.
“Looking ahead, we believe the combination of our leading portfolio, the power of the Danaher Business System and the strength of our balance sheet position Danaher to continue generating sustainable, long-term shareholder value for many years to come.”
For Q1 2023, Danaher anticipates non-GAAP base business core revenue growth in the mid-single digits.
Shares in DHR were down 3.15% to $268.29 apiece in mid-morning trading.