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Danaher Preliminary Q1 Revenues Grow 3 Percent; Firm Withdraws 2020 Guidance

NEW YORK – Danaher reported on Monday it expects preliminary revenue growth of 3 percent year over year for the first quarter of 2020.

Non-GAAP core revenue growth is expected to be approximately 5 percent.

In a statement, Danaher President and CEO Thomas Joyce said the company anticipates positive results in its Life Sciences, Diagnostics, and Environmental and Applied Solutions sectors. Joyce noted particular strength in the company's Cepheid, Radiometer, Pall, and ChemTreat businesses, but added that Danaher experienced a "meaningful slowdown" at the end of the quarter due to the COVID-19 pandemic. The slowdown was particularly notable in the company's more instrument-oriented businesses, Joyce said.

As a result, Danaher is withdrawing the 2020 financial guidance previously announced in its fourth-quarter earnings report. For the first quarter of 2020, the company forecast EPS of $.78 to $.81 and non-GAAP EPS of $1.06 to $1.09. For full-year 2020, Danaher expected EPS of $3.96 to $4.06 and non-GAAP EPS of $4.80 to $4.90.

Danaher will announce full first quarter results before the market opens on May 7.