This quarter was exactly what we needed to see from the life sciences company.
Shares of Danaher popped more than 6% on Tuesday after the life sciences company delivered a strong quarter and reaffirmed its guidance — signaling the longtime Club stock is back on track. Revenue for the period ended June 28 declined 3.5% organically year over year to $5.74 billion, outpacing analyst estimates of $5.59 billion, according to LSEG. Total sales on a reported basis dropped nearly 2.9% year over year. Adjusted earnings per share decreased less than 1% annually to $1.
Baked into this view is the expectation that biotechnology sales will fall at a rate in the low-to-mid single digits, life sciences will fall in the low single digits, and diagnostics will advance low single digits — all unchanged from the previously provided outlook. Management reiterated its expectation for a full-year adjusted operating margin of about 29%, which is in line with analysts' estimates.
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