Stock Monitor: Dover Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 08, 2018 / Active-Investors.com has just released a free earnings report on Danaher Corp. (NYSE: DHR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=DHR. Danaher reported its fourth quarter and fiscal 2017 operating and financial results on January 30, 2018. The industrial and medical device maker outperformed top- and bottom-line expectations, announced CFO transition, and provided guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Danaher most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the fourth quarter 2017, Danaher's revenues increased 11.0% to $5.09 billion compared to sales of $4.58 billion in Q4 2016, as the impact of currency translation increased revenue by 3% and acquisitions aided revenues by 2.5%. The Company's reported numbers exceeded analysts' estimates of $4.97 billion.
Danaher's revenues for the full year (FY) 2017 increased 8.5% to $18.33 billion compared to revenues of $16.88 billion in FY16.
During Q4 2017, Danaher's gross margin was 55.8%, reflecting an increase of 130 basis points compared to the year ago same period. The Company's operating margin expanded 270 basis points to 18.6% in the reported quarter led by its life sciences and diagnostics platforms.
For Q4 2017, Danaher reported net earnings of $856.6 million, or $1.21 per diluted share, compared to net earnings of $747.0 million, or $1.07 per diluted share, in Q4 2016. The Company's non-GAAP diluted net earnings were $1.19 per share, representing a 13.5% growth on a y-o-y basis. Danaher's earnings beat Wall Street's estimates of $1.16 per share.
For FY17, Danaher's net earnings were $2.49 billion, or $3.50 per diluted share, compared to $2.55 billion or $3.65 per diluted share in FY16. The Company's non-GAAP diluted net earnings for FY17 was $4.03 per share, up 11.5% on a y-o-y basis.
Danaher's Segment Results
During Q4 2017, the Life Sciences segment's revenue grew 12% to $1.63 billion on a y-o-y basis, and core revenue grew 7.5%, marking the platforms highest quarterly core growth rate in over four years. The segment's operating profit margin was 20%, with both core and reported operating margins increasing over 300 basis points. This increase was broad based across the platform driven primarily by outstanding execution of Danaher Business System (DBS), new product innovations and better than expected topline performance.
For Q4 2017, the Diagnostics unit's reported revenues jumped 13.5% to $1.62 billion on a y-o-y basis, while core revenue increased 6%. The segment's core operating margin grew by 105 basis points and reported operating margin increased 690 basis points to 19.5%.
The Dental segment reported revenue of $758.8 million, reflecting growth of 2.5%, while core revenue was down slightly. The segment's operating profit margin was 13.1% as both core and reported operating margins declined.
During Q4 2017, the Environmental & Applied Solutions segment's reported revenue advanced 12.5% to $1.08 billion on a y-o-y basis with core revenue up 6%. The segment's core operating margin declined by 50 basis points and reported operating margin decreased to 23.1%, driven primarily by increased productivity initiatives and spending within the Company's water quality platform.
CFO Transition Plan
On January 30, 2018, Danaher announced that, effective January 01, 2019, Matthew R. McGrew, Group CFO of the Company's Diagnostics and Dental platforms, will succeed Daniel L. Comas as Chief Financial Officer. Mr. Comas will continue as an Executive Vice President of the Company, and a member of the Office of the Chief Executive, effective January 01, 2019 as he begins a gradual transition to retirement.
Mr. McGrew, 45, has served as a Danaher Group CFO since 2012, during which he had responsibility at various times for the Company's Life Sciences, Product Identification, Diagnostics, and Dental platforms.
For the full year 2018, Danaher is forecasting diluted net earnings per share to be in the range of $3.50 to $3.60. The Company continues to expect its FY18 non-GAAP adjusted diluted net earnings per share to be in the range of $4.25 to $4.35.
Stock Performance Snapshot
February 07, 2018 - At Wednesday's closing bell, Danaher's stock declined 1.85%, ending the trading session at $95.25.
Volume traded for the day: 5.33 million shares, which was above the 3-month average volume of 2.35 million shares.
Stock performance in the last three-month - up 2.84%; previous six-month period - up 18.66%; past twelve-month period - up 14.65%; and year-to-date - up 2.62%
After yesterday's close, Danaher's market cap was at $66.05 billion.
Price to Earnings (P/E) ratio was at 27.22.
The stock has a dividend yield of 0.59%.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 0.2% at the end of the session.
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