Danaher Reports Strong Q2 2024 Earnings, Announces $4.5B Buyback, Shares Up Nearly 8%

Jul 23, 2024, 11:33 AM

Danaher Corporation reported better-than-expected earnings for the second quarter of 2024, driven by strong demand for its genetic testing services. The company's adjusted earnings per share (EPS) were $1.72, surpassing the forecast of $1.58. Revenue also exceeded expectations, coming in at $5.7 billion compared to the estimated $5.59 billion. Danaher's CEO highlighted the company's better-than-expected revenue, earnings, and cash flow. The strong performance led to a pre-market share increase of 3.3%, later rising to nearly 8%. Additionally, Danaher announced a $4.5 billion share buyback program. The company's market cap stands at $185.83 billion, with net earnings of $907 million. Revenue decreased by 3.0% year-over-year, and non-GAAP core revenue decreased by 3.5%.