Danaher Corp. (DHR) , a science and technology company boasting more than 20 brands, told investors Tuesday, Jan. 9, at the JPMorgan Healthcare Conference in San Francisco that its fourth-quarter financials would exceed earlier guidance.
CEO Tom Joyce told investors that its core growth number for the quarter would be approximately 5%, an increase of 1.5 percentage points over earlier projections. Its earnings per share also will be above the top of the $1.12 to $1.16 range.
Danaher shares late on Tuesday were up 3.6% to $98.70. The stock has surged 22.6% over the past 12 months.
Across the company's four platforms, diagnostics, life sciences, dental and environmental and applied solutions generate $18 billion, with diagnostics posting almost a third of that total.
Joyce also updated the performance of Pall Corp., the company's provider of filtration, separation and purification solutions that remove contaminants or separate substances from a variety of solids, liquids and gases. It acquired the company for $13.8 billion in 2015. In the first year, Danaher realized $125 million in savings, and that number grew to $200 million last year. Three years after the deal was made, the savings have topped $350 million, $50 million more than projections.
Pall also has increased the number of new product launches by 50%.
Danaher has grown via an acquisition strategy, spending $19 billion on 25 deals since 2005.
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