Danaher Remains on Track in 2019
With a number of industrially focused companies reporting some lackluster growth so far during earnings season, it was good to see Danaher (NYSE: DHR) report yet another quarter of mid-single-digit core revenue growth. The performance underlines how well CEO Tom Joyce has positioned the company for near- and long-term growth.
Moreover, it looks like there's upside potential to its full-year guidance, and the deal to buy General Electric's (NYSE: GE) biopharma business provides a multiyear growth opportunity. In short, Danaher remains a good place to hide for investors worried about a cyclical slowdown in the industrial economy.
As the chart below shows, the company has grown its core revenue at 5.5% or above since the third quarter of 2017, largely driven by strength in its life sciences and diagnostics segments. This augurs well for the impending GE biopharma acquisition. Meanwhile, environmental and applied solutions (water quality technology, product ID, and packaging) provides solid support.
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