DHR Q1 2026 Earnings
Reported Apr 20, 2026 at 5:44 PM ET · SEC Source
Q1 26 EPS
$2.06
BEAT +6.38%
Est. $1.94
Q1 26 Revenue
$5.95B
MISS 0.77%
Est. $6.00B
vs S&P Since Q1 26
-9.0%
TRAILING MARKET
DHR -4.9% vs S&P +4.1%
Market Reaction
Did DHR Beat Earnings? Q1 2026 Results
Danaher posted a solid first quarter for fiscal 2026, clearing the earnings bar on the bottom line while falling just short on revenue, a combination that nonetheless left investors with a broadly reassuring picture of the company's trajectory. Adjus… Read more Danaher posted a solid first quarter for fiscal 2026, clearing the earnings bar on the bottom line while falling just short on revenue, a combination that nonetheless left investors with a broadly reassuring picture of the company's trajectory. Adjusted diluted EPS came in at $2.06, beating the $1.94 consensus by 6.38%, while revenue of $5.95 billion grew 3.7% year over year but edged slightly below the $6.00 billion estimate by 0.77%. The headline driver behind the earnings strength was Biotechnology, where total sales climbed 11.5% and core sales rose 7.0%, fueled by continued momentum in Bioprocessing; that outperformance more than offset a soft Diagnostics segment, which contracted 4.0% on a core basis as a lighter-than-typical respiratory season weighed on Cepheid. The quarter also carried a major strategic footnote, with Danaher announcing its intent to acquire patient monitoring firm Masimo Corporation. Management lifted the upper end of full-year adjusted EPS guidance to a range of $8.35 to $8.55, while maintaining core revenue growth expectations of 3% to 6% for the full year.
Key Takeaways
- • Strength in Bioprocessing drove Biotechnology segment growth of 7.0% on a core basis
- • Better-than-expected Life Sciences performance
- • Favorable currency exchange rates contributed 3.0% to reported sales growth
- • Productivity gains and innovation acceleration
- • Lighter-than-typical Q1 respiratory season at Cepheid negatively impacted Diagnostics
DHR Forward Guidance & Outlook
For Q2 2026, Danaher expects non-GAAP core revenue to increase in the low-single digit percent range year-over-year, with an adjusted operating profit margin of approximately 26.5%. For full year 2026, the company continues to expect core revenue growth of 3% to 6% and raised its adjusted diluted net EPS guidance to $8.35–$8.55 (from $8.35–$8.50). Segment-level full-year core sales growth expectations: Biotechnology approximately +6.0%, Life Sciences up slightly, and Diagnostics low-single digit growth. Cepheid respiratory revenue is expected to be approximately $1.6–$1.7 billion for the full year. The estimated effective tax rate is approximately 17.0% and the impact of currency exchange rates on sales is estimated at +0.5% for both Q2 and full year 2026.
DHR YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
DHR Revenue by Segment
Business unit performance breakdown
“Our team executed well in the first quarter, which enabled us to accelerate innovation, drive productivity gains, and deliver nearly 10% adjusted EPS growth. On the top line, we continued on a steady recovery path with strength in Bioprocessing and better-than-expected performance in Life Sciences largely offsetting the impact of a lighter-than-typical Q1 respiratory season at Cepheid.”
— Rainer M. Blair, Q1 2026 Earnings Press Release
DHR Earnings Trends
DHR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DHR EPS Trend
Earnings per share: estimate vs actual
DHR Revenue Trend
Quarterly revenue: estimate vs actual
DHR Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.94 | $2.06 | +6.38% | $5.95B | -0.77% |
| Q4 25 BEAT FY | $2.19 | $2.23 | +1.79% | $6.84B | +0.42% |
| FY Full Year | — | $7.80 | — | $24.57B | — |
| Q3 25 BEAT | $1.72 | $1.89 | +9.78% | $6.05B | +0.92% |
| Q2 25 BEAT | $1.64 | $1.80 | +9.74% | $5.94B | +1.79% |