Danaher lifts 2026 profit outlook after third-quarter adjusted EPS climbs 11.5% to $2.11

Danaher raised its full-year profit forecast on Wednesday after third-quarter results that its chief executive called better than expected on revenue, earnings and cash flow.

The life sciences and diagnostics company now expects 2026 adjusted earnings of $8.57 to $8.62 a share, up from its previous range of $8.45 to $8.60, according to its earnings release filed with an 8-K.

Third-quarter revenue rose 8.5% to $6.55 billion from $6.05 billion a year earlier. Adjusted earnings, a non-GAAP measure, grew 11.5% to $2.11 a share from $1.89.

On a GAAP basis, net earnings from continuing operations were $1.21 billion, or $1.71 a diluted share, up from $908 million, or $1.27. The quarter included $263 million of net discrete tax benefits, mainly from releasing reserves for uncertain tax positions after audit settlements, the company said.

Growth outside respiratory testing

Core revenue, which strips out acquisitions, currency and tariff refunds to customers, rose 3.0%. Excluding respiratory testing, core revenue grew 5.5%, a figure Chief Executive Julie Sawyer Montgomery described as a "continued acceleration."

Fourth-quarter view

For the fourth quarter, Danaher expects core revenue excluding respiratory testing to grow 4.0% to 5.0%. It expects respiratory revenue to be a headwind of about 150 basis points, leaving total core revenue growth of about 3.0%.

Operating cash flow was $1.9 billion in the quarter and free cash flow, a non-GAAP measure, was $1.6 billion.

By the numbers

• Revenue: $6.55 billion, up 8.5%
• Adjusted EPS: $2.11, vs. $1.89
• GAAP diluted EPS from continuing operations: $1.71, vs. $1.27
• Core revenue growth: 3.0%; 5.5% excluding respiratory testing
• 2026 adjusted EPS guidance: $8.57 to $8.62, up from $8.45 to $8.60

Sources

1. Danaher Corporation, Form 8-K (Item 2.02) with Exhibit 99.1 earnings release, filed Oct. 21, 2026, accession 0000313616-26-000201

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