Danaher Quarterly Revenues Advanced 12%, Net Income Up 1%

  • Scott Peters
  • U.S.A. New York City
  • Apr 23, 2022
  • Danaher Corp said first quarter 2022 revenues rose 12% driven by a 4% increase in Covid-19 related testing revenues. Net income was flat. Diagnostic segment revenues in the quarter rose 21.5% followed by 9.5% growth in the Life Sciences segment.

    Danaher Corp said first quarter 2022 net revenues increased 12% to $7.7 billion, net income increased 1% to $1.7 billion, and diluted earnings per share $2.31 compared to $2.29 a year ago.  

    COVID-19 related testing drove sales higher by 4%. 

    Operating margins declined 80 basis points to 28.3% from 29.1% in the quarter a year ago. 

    Life Sciences segment revenues rose 9.5% to $3.9 billion and operating profit margin declined 370 basis points to 28.8%. 

    Diagnostics segment revenues increased 21.5% to $2.6 billion and operating margin improved 480 basis points to 33.5%. 

    Environmental & Applied Solutions segment revenues rose 2.5% to $1.16 billion and operating margin fell 480 basis points to 20.3%. 

    The Washington, D.C. based conglomerate manufactures industrial, medical and commercial products including leading brands Beckman Coulter, Leica, and Sciex. 

    Guidance and Outlook 

    The company guided non-GAAP base business core revenues growth which excluding acquisitions and currency translations in the second quarter in the mid-single digit percent range, which includes an approximately 200 to 300 basis point headwind from the COVID-19 related shutdowns in China.

    For the full year 2022, the company continues to expect non-GAAP base business core revenue growth will be in the high-single digit percent range.

    Rainer M. Blair, President and Chief Executive Officer, stated, "We had a good start to the year with results exceeding our initial expectations.  Our team successfully navigated a dynamic environment to deliver double digit core revenue growth, approximately 10% adjusted earnings per share growth and $2.0 billion of operating cash flow, despite difficult prior year comparisons.  

    This performance was broad based with all three of our segments delivering high-single digit or better core revenue growth.  We believe our strong execution combined with investments in innovation have driven market share gains in many of our businesses."

Annual Returns

Company Ticker 2025 2024 2023
Danaher Corporation DHR 0% -1% -15%