The beat-and-raise quarter with accelerating core growth ex-respiratory (5.5%) and double-digit adjusted EPS growth signals improving end-market demand. Watch Q4 guidance for continued momentum in Biotech and Life Sciences segments, and monitor the respiratory headwind trajectory into 2027.
Price Chart
Executive Summary
Danaher reported Q3 2026 revenue of $6.6B (+8.5% YoY) and non-GAAP adjusted EPS of $2.11 (+11.5% YoY), beating Street consensus of $1.92. The company raised full-year 2026 adjusted EPS guidance to $8.57-$8.62 from $8.45-$8.60, citing accelerating core growth excluding respiratory and strong DBS-driven execution.
Key Financial Metrics
Key Facts
- Q3 2026 revenue $6.6B, +8.5% YoY
- Non-GAAP adjusted diluted EPS $2.11, +11.5% YoY, beat consensus $1.92 (+10.0%)
- GAAP net earnings from continuing operations $1.2B, +34.5% YoY
- Operating cash flow $1.9B; free cash flow $1.6B
- Full-year 2026 adjusted EPS guidance raised to $8.57-$8.62 from $8.45-$8.60
- Q4 2026 core revenue ex-respiratory guided +4.0%-5.0% YoY; respiratory a ~150bp headwind
- Biotechnology core sales +5.0%, Life Sciences +4.5%, Diagnostics +0.5%
- Core revenue ex-respiratory +5.5% overall
Financial Impact
EPS beat of ~10% vs consensus; raised full-year guidance by ~$0.07 at midpoint
Risk Factors
- Respiratory testing revenue remains a ~150bp headwind in Q4, adding uncertainty to top-line comparability
- Acquisition-related amortization ($0.73/share) and Masimo integration costs weigh on GAAP earnings
- Tariff and geopolitical risks could pressure supply chain and cost structure
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302914824 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Institutional Cluster | $230.50 $232.97 | ▲ +1.07% | ▲ +0.36% | $232.62 (+0.92%) |
Oct 21, 2026 6d ago | Press Release | $233.86 $229.75 | ▼ −1.76% | ▼ −0.58% | $232.62 (−0.53%) |
Oct 20, 2026 6d ago | 8-K | $233.86 $229.75 | ▼ −1.76% | ▼ −0.58% | $232.62 (−0.53%) |
Oct 14, 2026 13d ago | Press Release | $224.69 $231.50 | ▲ +3.03% | ▲ +2.75% | $232.62 (+3.53%) |
Oct 13, 2026 14d ago | 8-K | $222.84 $224.69 | ▲ +0.83% | ▲ +1.91% | $232.62 (+4.39%) |
Sep 22, 2026 4w ago | Press Release | $221.56 $223.77 | ▲ +1.00% | ▲ +1.08% | $232.62 (+4.99%) |
Sep 15, 2026 5w ago | Press Release | $208.36 $212.50 | ▲ +1.99% | ▲ +0.85% | $232.62 (+11.64%) |
Aug 17, 2026 10w ago | Court Ruling | $199.23 $211.13 | ▲ +5.97% | ▲ +5.76% | $232.62 (+16.76%) |
Jul 21, 2026 14w ago | Press Release | $179.01 $179.14 | ▲ +0.07% | ▲ +0.19% | $232.62 (+29.95%) |
Jul 17, 2026 14w ago | Court Ruling | $201.11 $179.01 | ▼ −10.99% | ▼ −11.82% | $232.62 (+15.67%) |
US Market Status
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