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Danaher sees April quarter revenue growth of about 3%, withdraws 2020 guidance

Danaher Corp. said Monday it expects revenue growth of about 3% for the quarter ended April 3. The company, which makes products for the health care, environmental and applied end-markets, said it expects positive results in each of its three operating setments, with particular strength in its Cepheid, Radiometer, Pall and ChemTreat businesses. “While we had a good start to the year, we saw a meaningful slowdown in demand toward the end of the quarter, particularly in our more instrument-oriented businesses, as the COVID-19 pandemic spread worldwide,” the company said in a statement. It is withdrawing guidance offered on Jan. 30 because of the uncertainty caused by the pandemic. First-quarter earnings are scheduled for release on May 7. Shares were not active premarket, but are down 5% in the year to date, while the S&P 500 has fallen 14%.

2020-05-07 12:44:35

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