Danaher Guides Q1, FY23 Revenue Growth Above Estimates - Update
(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, science and technology company Danaher Corp. (DHR) provided revenue growth guidance for the first quarter and full-year 2023.
The company now projects core revenue growth in the mid-single digits for the first quarter, and adjusted base business core revenue growth in the high-single digits.
On average, analysts polled by Thomson Reuters expect the company to report a revenue decline of 4.3 percent to $7.36 billion for the quarter and a revenue decline of 0.6 percent to $30.71 billion for the year.
The Company said it provides forecasted sales only on a adjusted basis because of the difficulty in estimating the other components of revenue, such as currency translation, acquisitions and divested product lines.
Starting with the first quarter 2023, the Company will revise its definition of base business core growth to exclude revenues related to COVID-19 testing, vaccines and therapeutics, in addition to the exclusion of currency translation, acquisitions and divested product lines.
"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," said Rainer Blair, President and Chief Executive Officer.
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