Danaher Corporation
DHR - NYSE - $175.15 ▼ -%2.12
-
Earnings Tue 28 Jul

Danaher opens the
books on Tuesday evening.

4 analysts' median target is $249[FMP target], stock is $175, +42.2% upside potential. After Q1 +6.2% EPS beat[FMP earnings], the stock moved -5.4%.

↓ summary below
Quick Take - in 40 seconds
B
BUY Council 3/6 - Moonshot 51

B = MoonshotScore 51[9-pillar formula] + Council 3/6[6-lens rule]. Form 4: 0 transactions[FMP Form 4].

Q4 consensus: revenue $6.1B[FMP est], EPS $1.85[FMP est]. 5 consecutive quarters of beat[FMP earnings].

Detailed analysis below ↓
$1.85 EPS Estimate Last year $2.23 - +3% YoY YoY
5 Beat Streak Expectations beaten consecutively for the last 5 quarters

Q1 EPS +6.2% beat[FMP] but the stock -5.4% D+1[FMP D+1]. Matt Gugino promised $237.0M CapEx + a sequential decline in Q4 during the Q1 earnings call[Matt Gugino capex transcript].

Watchlist

4 metrics stand out this quarter.

$8.35 Expectation / Guide

Fy26 Eps Guidance

fy26_eps_guidance

Danaher is raising its full year 2026 adjusted diluted net EPS guidance to a range of $8.35 to $8.55 versus its previous range of $8.35 to $8.50, given their strong Q1 performance.

"Additionally, given our strong Q1 performance, we're raising our full year adjusted diluted net EPS guidance to a range of $8.35 to $8.55 versus our previous range of $8.35 to $8.50."

- Rainer Blair, President and Chief Executive Officer - Q1 FY26 Earnings Call - April 21, 2026
3% Expectation / Guide

Fy26 Core Revenue Guidance

fy26_core_revenue_guidance

For the full year 2026, Danaher maintains its expectation of core revenue growth in the 3% to 6% range.

"For the full year 2026, there is no change to our expectation of core revenue growth in the 3% to 6% range."

- Rainer Blair, President and Chief Executive Officer - Q1 FY26 Earnings Call - April 21, 2026
20% Investor Focus

Cepheid Nonrespiratory Growth

cepheid_nonrespiratory_growth

Cepheid's core nonrespiratory test menu was up mid-teens, led by our 20% growth in sexual health and hospital-acquired infection assays.

"Cepheid's core nonrespiratory test menu was up mid-teens, led by our 20% growth in sexual health and hospital-acquired infection assays."

- Rainer Blair, President and Chief Executive Officer - Q1 FY26 Earnings Call - April 21, 2026
30% Investor Focus

Bioprocessing Equipment Orders

bioprocessing_equipment_orders

Bioprocessing equipment orders grew more than 30%, marking the first quarter of year-over-year equipment order growth in nearly 2 years.

"Equipment declined modestly in Q1, but we were encouraged to see orders growth of more than 30%, marking the first quarter of year-over-year equipment order growth in nearly 2 years."

- Rainer Blair, President and Chief Executive Officer - Q1 FY26 Earnings Call - April 21, 2026

Stock Expert AI - Methodology

Do our 9 pillars, 7 perspectives, and Munger lens point in the same direction?

MoonshotScore 51 / 100

9-pillar methodology. Cash Runway and News Sentiment strong. Revenue Growth weak.

How is it calculated? ->
Revenue Growth0.0Q1 vs Q2: growth slowing (+0.3%, below threshold)
Gross Margin6.0Q1: high margin (60.3%)
Operating Leverage2.0op margin healthy (22.6%)
Cash Runway10.0FCF very strong ($1.1B, 4.6x CapEx)
R&D Intensity5.0average R&D (6.5%)
Price Momentum4.0RSI 32.1 weak momentum, 50d below
News Sentiment9.0strong buy consensus (92%)
Council Score 3 / 6 Bullish

6 investor frameworks. 3 bullish (Ray Dalio, Klarman, Munger), 1 bearish (Ken Griffin), 2 neutral (Jim Simons, Buffett).

How is it calculated? ->
Ray Dalio macro - target upside +42.2%
Ken Griffin flow - 50d MA below
Jim Simons quant - RSI 32
Klarman value - target upside +42.2%
Buffett quality - ROE score 3/5
Munger valuation - target upside +42.2%
Munger's Mindset character & balance sheet lens
Undervalued

Quality business, discounted price.

How is it calculated? ->
Financial HealthModerate
Margin of SafetyStrong
Interest CoverageAdequate
ROIC vs WACCTight
Technical Levels - Pre-earnings positioning

What levels is the stock being tested at?

RSI(14)
32.1 RSI 32.1 weak momentum, 50d below
MACD
-9.20 price below 50d - resistance dominant
50d MA
$193 stock 9.2% below - short-term resistance
200d MA
$209 stock 16.1% below - long-term pressure
Volume (10d)
-36% decrease - low participation
Resistance
$249
Analyst median target - upgrade trigger if broken
Current
$175
Pre-earnings position
Support
$177
Invalidation - close below this is a technical breakdown
Pattern
Range
$177-$249 band - earnings breakout/breakdown trigger

Past Performance

Danaher's last 8 quarters: 5 consecutive beats.

BEAT
Q2 FY25
$1.80 vs $1.64 est - +4.2%
BEAT
Q3 FY25
$1.89 vs $1.72 est - -1.2%
BEAT
Q4 FY25
$2.23 vs $2.16 est - -2.2%
BEAT
Q1 FY26
$2.06 vs $1.94 est - -5.4%

Q1 (April 21, 2026): EPS $2.06 vs $1.94 est[FMP], +6.2% beat. D+1 movement: -5.4%[FMP D+1]. Decline despite beat - market reacted to guidance, not numbers.

Three scenarios: what could happen?

EPS < $1.79 (no guidance)

Q1: EPS $2.06 vs $1.94 beat[FMP], stock -5.4% D+1[FMP].

Backlog concentration

No RPO/backlog concentration disclosed in Q1 earnings call.

CapEx shock

Q1 CapEx $237.0M[FMP cashflow]. Q1 op margin 22.6%[FMP op margin] - this level in Q4 is sensitive to CapEx revision risk.

Framework - Position discipline

After the data arrives: 3 scenarios, 3 windows

Not advice - a structural framework for earnings night. Decision discipline is yours.

Scenario A - Beat
Q4 EPS > $1.85 + CapEx discipline
Threshold: EPS > $1.85[FMP est].
Target: Break above median target $249[FMP target]; high target $270[FMP] upper bound.
Scenario B - In-Line
EPS approx $1.85 + CapEx < $237.0M
Threshold: EPS approx $1.85[FMP est], Q4 CapEx < $237.0M[FMP].
Target: Consolidation in the band between current $175[FMP] and median $249[FMP].
Scenario C - Miss
EPS < $1.79 or CapEx >= $237.0M
Threshold: EPS < $1.79[FMP estx0.97].
Target: Current $175 below SMA200 $209[FMP], if rejection continues, $177[derived] support activates.
Sizing
Earnings volatility -> max portfolio 1-2%. Waiting for earnings is not a gamble, it's a position entrustment.
Timing
IV crush within 24 hours post-earnings. Waiting for premium decay makes options preferable to spot.
Staging
Don't go all-in at once, divide into 3: initial reaction, 24 hours later, after Friday's close.

Market Outlook

What do 4 analysts say?

Wall Street Consensus
$249
12-month median target price (+42.2% upside potential)
22
BUY
2
HOLD
0
SELL
Risk Management
$177
Invalidation level - critical support threshold
$193 - 50-day MA (below, -9.2%)
$209 - 200-day MA (below, -16.1%)
IV Crush risk (sudden drop in inflated option premiums before earnings): Option premiums are inflated before earnings.
Verdict - DHR Q4 FY26
B

You read it in 5 minutes. When the numbers come out on Tuesday evening - you know what you're looking at.

Data arrives at night. The framework is ready now.

Data arrives on Tuesday evening. The framework is ready on this page: Q4 EPS threshold $1.85[FMP], CapEx threshold "below $237.0M"[Matt Gugino]. Two anchors, three scenarios.

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Educational tool, not investment advice. Past performance does not guarantee future results.

Calendar

Catalyst Calendar - 90-day forward look

Jul 28, 2026EARNINGSQ4 FY26 results (after market close) + earnings call
Jul 29, 2026PRICEFirst trading day after earnings - 200dMA test + IV crush
Sep 11, 2026FILING10-Q deadline - segment breakdown + RPO detail (SEC rule: quarter-end + 45 days)
~Oct 28, 2026EARNINGSQ1 FY27 (next quarter, date not yet scheduled in FMP)

DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.

Frequently Asked Questions

What does the DHR earnings preview cover?

This DHR (DHR) earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.

What should investors watch for in DHR earnings?

Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.