Danaher Corp. (NYSE: DHR – $128.60), based in Washington, DC, announced results for the first quarter with net earnings of $333.8 million. The manufacturer of professional, medical, industrial and commercial instruments said adjusted net earnings per share were $1.07, which represents an 8% increase over the comparable 2018 period and six cents better than Street views. Revenues increased 4% year-over-year to $4.9 billion, with adjusted core revenue growth of 5.5% and above consensus of $4.79 billion. Adjusted operating cash flow for the first quarter was $548.4 million.
For the second quarter 2019, management anticipates that adjusted net earnings per share will be in the range of $1.13 to $1.16. For the full year, the company now expects net earnings per share to be in the range of $4.72 to $4.80 versus previous guidance of $4.75 to $4.85 and compared to Wall Street estimates of $4.79. This updated guidance reflects the dilution related to the company’s recent equity offerings to fund the GE Biopharma acquisition, partially offset by the strong first quarter 2019 performance. The dental business spinoff remains set for the second half of this year. The shares are up about 23% over the past year and positions can continue to be maintained in a well-diversified conservative portfolio for further long-term growth.