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Danaher Rallies After Q3 Beat, Reaffirms 2025 Outlook and Sketches 2026 Growth Range

The beat reflected DBS execution with a pull‑forward of respiratory testing at Cepheid.

Overview

  • Core revenue grew 3% in the third quarter as the adjusted operating margin reached 27.9%.
  • GAAP net income rose 11% to $908 million on sales of $6.05 billion, up 4.4% year over year.
  • Shares jumped as much as 12.9% intraday and closed up about 5.9% at $220.77 following the report.
  • Full‑year 2025 guidance was reaffirmed at $7.70 to $7.80 in adjusted diluted EPS, assuming low‑single‑digit core revenue growth.
  • Preliminary 2026 guidance targets 3%–6% core revenue growth with no more than high‑single‑digit earnings growth, while commentary highlights valuation near 29x 2025 EPS and uncertainties in diagnostics exposure to China and life‑sciences softness.