Danaher (DHR) shares slipped ~5% in the premarket on Wednesday after the life sciences company failed to impress Wall Street with its Q4 2025, which, however, beat the consensus despite indicating an in-line earnings outlook for 2026.
The Washington, DC-based company reported $2.23 of adjusted earnings per share for the quarter with ~4% YoY growth, exceeding the consensus by $0.04. Its quarterly revenue rose ~5% YoY on a reported basis to $6.8B, beating Street forecasts by $30M, indicating a ~3% YoY growth in non-GAAP core revenue.
For Q1 and 2026, Danaher (DHR) projects a non-GAAP core sales growth of a low single-digit percentage range and 3.0% – 6.0%, respectively, compared to the prior year. Its adjusted diluted net earnings per common share for 2026 are expected to reach $8.35 – $8.50, in line with $8.42 in the consensus, indicating ~8% YoY growth at the midpoint.
In 2025, the company recorded $24.6B in revenue with a 2.0% YoY growth in non-GAAP core revenue, while its non-GAAP adjusted diluted net earnings per common share grew ~5% YoY to $7.80.
As for individual segments, DHR expects its Life Sciences segment to record flat core sales growth in 2026, having posted $2.1B in sales last year with ~3% YoY growth on a GAAP basis.
Meanwhile, its other two segments, Diagnostics and Biotechnology, which added $2.7B and $2.0B to the topline with ~3% YoY and ~9% YoY growth, respectively, are projected to expand low single digits and ~6% YoY in 2026.