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Danaher DHR Q2 2026 earnings

Reported July 21, 2026 · Before market open

Revenue$6.3BBeat by $144.0M
EPS$1.94Beat by $0.09
Revenue estimate$6.1B
EPS estimate$1.85
“We delivered a better than expected second quarter, with core growth improving versus the first quarter and disciplined execution driving high-single-digits adjusted EPS growth. Our Life Sciences businesses delivered their strongest quarter in several years and while customer project timing impacted bioprocessing revenue, underlying order trends remained strong and bioprocessing orders grew mid-teens in the quarter.”
Rainer M. Blair

Next report

Oct 21, 2026 (In 2 weeks)
Revenue estimate$6.6B
EPS estimate$1.91

Financials

Q2 2026

Income statement

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Revenue$6.3B+5.5%
Gross profit$3.6B+2.5%
Operating income$1.1B+48.3%
Net income$870.0M+56.8%
EPS (diluted)$1.23+59.7%

Balance sheet

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Cash & equivalents$4.3B+47.0%
Total debt$27.9B+50.1%
Total equity$52.6B+0.5%
Total assets$92.4B+13.2%

Cash flow

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Operating cash flow$1.5B+14.6%
CapEx$269.0M+8.5%
Free cash flow$1.3B+16.1%

Valuation & ratios

Valuation

as of 10/02/26
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Market cap$148.86B-1.2%
Enterprise value$172.37B+3.1%
P/E37.2×-5.8×
P/S5.9×-0.3×

Profitability

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Gross margin58.5%-1.1pp
Operating margin20.4%+2.0pp
Net margin15.9%+1.7pp
FCF margin21.8%+1.5pp

Returns & leverage

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Return on equity7.6%+1.0pp
Debt / equity0.5×+0.2×
Current ratio1.7×0.0×

Segments

By geography

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North America$2.5B+1.5%
High-growth markets$2.0B+15.4%
Western Europe$1.5B+2.2%
Other developed markets$293.0M-0.3%

By segment

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Diagnostics$2.5B—
Biotechnology$1.9B+3.8%
Life Sciences$1.9B—

By product

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Recurring revenue$5.2B+4.6%
Nonrecurring revenue$1.1B+10.2%

FAQ

When did Danaher report Q2 2026 earnings?
Danaher (DHR) reported Q2 2026 earnings on July 21, 2026 before market open.
What were Danaher's Q2 2026 revenue and EPS?
Danaher reported revenue of $6.3B and eps of $1.94 for Q2 2026.
Did Danaher beat estimates in Q2 2026?
Revenue beat the consensus estimate of $6.1B by $144.0M. EPS beat the consensus estimate of $1.85 by $0.09.
Where can I find Danaher's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000313616-26-000163) and the 10-Q periodic report (0000313616-26-000161) directly on SEC EDGAR. The filing index links above go to sec.gov.