Danaher (NYSE:DHR) reported Tuesday fourth-quarter sales and profit that exceeded analysts' expectations.
The company's sales reached $6.41 billion, surpassing the consensus estimate of $6.02 billion. Alongside this, Danaher reported an adjusted earnings per share (EPS) of $2.09, ahead of the consensus of $1.89.
However, the company's adjusted free cash flow, at $1.2 billion, fell short of the estimated $1.84 billion.
The stock fell 3.8% in the aftermath of the Q4 earnings report.
Looking ahead to the first quarter of 2024, Danaher anticipates a decrease in adjusted core revenue, expecting it to be down by “a high-single-digit percentage year-over-year.”
Rainer M. Blair, President and Chief Executive Officer, stated, "We delivered better-than-expected revenue in each of our segments in the fourth quarter—led by respiratory revenue at Cepheid. The combination of higher-than-expected revenues and our team's strong execution enabled us to exceed our margin and cash flow expectations in what remains a dynamic market environment.”