Danaher earnings date and guidance
Danaher’s next results are expected on October 21, 2026. Watch whether underlying demand becomes sales and cash while Masimo’s risks remain contained.
What has Danaher guided for 2026?
Management expects earnings to recover more reliably than sales. Danaher’s July guidance calls for 2026 core sales growth of 3.0%–4.0% and adjusted earnings per share of $8.45–$8.60. Core sales remove acquisitions and currency movements, while adjusted earnings remove selected costs. These measures show operating progress, but they do not replace reported results.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Total Company, core sales growth (non-GAAP) — Year to Dec 2026 | Year to Dec 2026 | 3.0% | 4.0% | July 21, 2026 |
| Adjusted diluted net earnings per common share (non-GAAP) — Year to Dec 2026 | Year to Dec 2026 | 8.45 | 8.60 | July 21, 2026 |
| Total Company, core sales growth (non-GAAP) — Quarter to Sep 2026 | Quarter to Sep 2026 | 2.0% | 3.0% | July 21, 2026 |
| Core sales growth excluding respiratory testing (non-GAAP) — Quarter to Sep 2026 | Quarter to Sep 2026 | 5.0% | 5.0% | July 21, 2026 |
What this means. A blank high number does not mean there is no upper limit; it means the company is promising at least the stated low number.
Did Danaher keep its past promises?
Danaher’s forecasts provide an accountability test. In July 2025, it forecast about 3% core revenue growth and adjusted EPS of US$7.70–US$7.80. It delivered the top of the EPS range but only 2% core growth. Core growth removes acquisition and currency effects, so earnings met the target while underlying growth missed. In July 2026, Masimo helped raise EPS guidance while core growth remained a separate concern.
What has Danaher’s revenue and profit trend been?
June revenue reached $6,265 million, up from $5,936 million a year earlier. Reported growth was about 5.5%. Core growth was 3.0%, rising to 4.5% without respiratory testing. Life Sciences led at 5.5%; Biotechnology grew 2.5%, while Diagnostics grew 2.0%. Comparing with the same quarter a year earlier matters because December-to-March movements can make the recovery look stronger or weaker than it is.
Margins tell the same story. Gross margin fell to 57.6% from 59.3%, even as operating margin rose to 18.0%. The higher operating profit therefore does not prove stronger product economics. Cash offers firmer support: operating cash rose to $1,534 million from $1,338 million, while free cash flow reached $1,265 million from $1,090 million.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6,265 | 5,951 | 6,838 | 6,053 | 5,936 | 5,741 | 6,538 | 5,798 |
| Operating income | 1,127 | 1,344 | 1,502 | 1,154 | 760 | 1,274 | 1,425 | 958 |
| Net income | 870 | 1,029 | 1,183 | 908 | 555 | 954 | 1,086 | 818 |
| EPS, diluted | 1.23 | 1.45 | 1.66 | 1.27 | 0.77 | 1.32 | 1.49 | 1.12 |
What this means. The amounts are for each three-month quarter, even though some descriptions say “during the year.”
What should I watch in Danaher’s next results?
The decisive evidence will be whether underlying demand becomes sales and cash while Masimo’s risks remain contained. Danaher discusses third-quarter results on October 21, 2026, at 8 a.m. Eastern. Julie Sawyer Montgomery became CEO on October 1, so the meeting will show whether she maintains July’s commitments. Investors should look for non-respiratory growth and confirmation of a mid-single-digit exit rate.