Why Danaher Stock Bounced Higher Today
Better-than-expected quarterly profitability was the engine driving Danaher (NYSE:DHR) stock higher on Tuesday. Cheered by the company’s estimates-beating results, investors piled into the healthcare conglomerate’s equity, and the stock closed the day more than 4% higher.
Danaher’s total sales in its third quarter amounted to $6.55 billion, up 8% from the year-ago period. Net income under generally accepted accounting principles (GAAP) rose more steeply, growing by 36% to over $1.2 billion. On a non-GAAP (adjusted), per-share basis, net income advanced by 12% to $2.11.
Profitability was boosted by two discrete items: a tariff refund that added $0.06 per share to adjusted profitability, and a $263 million tax settlement and reserve release that padded GAAP net income.
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