Danaher Corporation (NYSE:DHR) reported fourth-quarter results that exceeded market expectations, supported by solid performance across its healthcare and life sciences portfolio, with particular strength in bioprocessing.
The company posted adjusted earnings of $2.23 per share for the quarter, ahead of analysts’ consensus estimate of $2.14. Revenue came in at $6.84 billion, topping forecasts of $6.79 billion and representing year-on-year growth of 4.5%. On a non-GAAP basis, core revenue increased 2.5%.
Despite the earnings beat, Danaher shares edged 0.39% lower following the results.
“We delivered a strong finish to the year with better-than-expected performance across our portfolio,” said Rainer M. Blair, president and chief executive officer. “We were particularly encouraged by continued strength in our bioprocessing business, along with improved momentum in Diagnostics and Life Sciences.”
For the full year 2025, Danaher reported adjusted earnings per share of $7.80, up 4.5% from the prior year, on revenue of $24.6 billion, a 3.0% increase year on year. Operating cash flow totaled $6.4 billion, while non-GAAP free cash flow reached $5.3 billion.
Looking ahead, the company expects low single-digit percentage growth in non-GAAP core revenue in the first quarter of 2026. For the full year, Danaher forecast core revenue growth of between 3% and 6%, with adjusted earnings per share in the range of $8.35 to $8.50. The midpoint of $8.425 comes in slightly above the analyst consensus estimate of $8.42.