On Tuesday, Danaher Corp ( DHR ) reported third-quarter sales of $5.79 billion, up 3% year-over-year, beating the consensus of $5.59 billion. 

Non-GAAP core revenue increased by 0.5%, compared to the expectations of a decline in the low-single digits.

Danaher ( DHR ) reported second-quarter adjusted EPS of $1.71, beating the consensus of $1.57.

Operating cash flow was $1.5 billion, and non-GAAP free cash flow was $1.2 billion.

Also Read: Danaher Is Poised For ‘A Good Year In Bioprocessing’: Analyst.

Rainer Blair, President and CEO, stated, “Our team delivered strong third-quarter results, including better-than-expected revenue growth. We were especially pleased with the continued positive momentum in our bioprocessing business and believe Cepheid gained market share in molecular testing again this quarter.”

Biotechnology sales remained almost constant at $1.65 billion compared to $1.66 billion a year ago.

Life Sciences segment sales increased slightly from $1.71 billion to $1.78 billion. Diagnostic sales increased from $2.25 billion to $2.36 billion.

The operating margin of 27.5% came in above the guidance of around 26%.

Guidance: Danaher ( DHR ) reaffirms that in fiscal year 2024, non-GAAP core revenue will be down in the low single digits year over year.

The company forecasts that 2024 bioprocessing core revenue will decline in the low single digits, and Cepheid 2024 respiratory revenues will be around $1.7 billion compared to prior guidance of $1.6 billion.

For 2024, Danaher ( DHR ) forecasts an adjusted operating profit margin of around 29%.

For the fourth quarter of 2024, Danaher ( DHR ) anticipates adjusted core revenue to decline in the low-single digits year over year.

Bioprocessing core revenue growth is expected to be in the high single digits, which assumes gradual improvement continues. Cepheid respiratory revenue is expected to be approximately $350 million, with an adjusted operating profit margin of around 30%.

Price Action: At last check on Tuesday, DHR stock was trading 2.18% higher at $278 during the premarket session.

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