Danaher Q3 FY2026: adjusted EPS $2.11 beats, guidance raised
Danaher beat on the numbers management controls: adjusted EPS of $2.11 topped the $1.9359 consensus, revenue rose 8.5%, and free cash flow jumped 19.0% to $1.63 billion. The catch is that core growth was only 3.0%, with respiratory testing a 2.5-point headwind and acquisitions and divestitures subtracting 6.5 points. Read this quarter as a margin-and-cash story, not a demand story.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $1.75, up from $1.27, and includes $0.04 from discontinued operations; continuing operations delivered $1.71. Adjusted EPS of $2.11 rose 11.5% and beat the $1.9359 consensus by $0.17. That adjusted figure already excludes a $0.37 per-share discrete tax benefit, so the beat reflects operating leverage rather than tax.
Revenue of $6.55 billion rose 8.5% from $6.05 billion, but the GAAP line is noisy: acquisitions and divestitures subtracted 6.5 points and respiratory testing was a 2.5-point headwind. Strip those out and core growth was 5.5%. That is the number management wants you to judge, and it is the third straight quarter of acceleration on that basis (3.0%, then 4.5%, now 5.5%).
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-10-21
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