Danaher Corporation reported third-quarter 2026 sales of $6.554 billion, up 8.5% year over year. Net earnings from continuing operations were $1.207 billion, versus $908 million, and diluted earnings per share from continuing operations were $1.71, versus $1.27. Non-GAAP adjusted diluted earnings per share rose 11.5% to $2.11. Non-GAAP core sales growth was 3.0%, or 5.5% excluding respiratory testing.
Operating cash flow from continuing operations was $1.886 billion and free cash flow was $1.632 billion, versus $1.662 billion and $1.370 billion a year earlier. For the fourth quarter, Danaher expects core revenue excluding respiratory revenue to increase 4.0% to 5.0%; respiratory revenue is expected to be an approximately 150 basis point headwind, resulting in approximately 3.0% core revenue growth. Danaher raised full-year 2026 adjusted diluted net earnings per common share guidance to $8.57–$8.62, from $8.45–$8.60.
Danaher reported third-quarter 2026 sales of $6.554 billion, up 8.5% year over year; core sales rose 3.0%, and core sales excluding respiratory testing rose 5.5%. First-nine-month sales were $18.770 billion, up 6.0%, while core sales increased 2.0%. Third-quarter net earnings from continuing operations were $1.207 billion versus $908 million. Management attributed the increase primarily to a $263 million discrete tax benefit in 2026 and a $101 million impairment charge in 2025.
Danaher completed its Masimo acquisition on June 10, 2026, for approximately $9.8 billion, or $180.00 per share, net of cash acquired; Masimo is now part of Diagnostics. Danaher acquired StatLab on September 28, 2026, for approximately $1.4 billion, including assumed indebtedness and net of acquired cash, and will include it in Diagnostics in the fourth quarter. For the first nine months, operating cash from continuing operations was $4.742 billion and investing activities used $10.696 billion, including $9.881 billion of acquisition payments. Long-term debt was $24.388 billion as of September 25, 2026, versus $18.416 billion as of December 31, 2025; cash and equivalents were $5.682 billion and $4.615 billion on those dates, respectively.
Danaher Corporation director Daniel L. Comas reported holdings dated October 9, 2026, including 18,804 common shares held by a trust, 46,915 held by a Grantor Retained Annuity Trust, 2,543 held by his spouse and 6 held through a 401K. His account also lists 52,338 notional shares in Danaher’s deferred compensation stock fund and employee options covering 47,805, 23,146 and 14,303 common shares, at exercise prices of $88.24, $100.81 and $139.30, respectively.
Danaher Corporation (DHR) director Robert Hershberg reported no securities beneficially owned; the direct-holdings entry lists 0 shares on October 9, 2026.
Mitchell P. Rales reported disposition transactions in this Form 4 filing. Danaher (DHR) reported that Chairman of Exec. Committee Mitchell P. Rales waived his right to a restricted stock unit award covering 500,000 common shares on October 9, 2026, for no consideration; the award had been granted August 4, 2026. His reported direct common-stock holdings after the transaction were 53,228 shares. Separately reported indirect holdings included 778,352 shares through the Mitchell P. Rales Family Trust, 801 shares by the 401(k) Plan, and 26,171,000 shares through single-member LLCs.
Danaher Corp. (DHR) reported that its Chairman, Steven M. Rales, waived his right to a restricted stock unit award covering 500,000 common shares on October 9, 2026, for no consideration. The transaction is reported as a disposition to the issuer, rather than a market sale. Following it, Rales reported 3,105,808 directly held shares, plus indirect holdings of 20,935 shares in a 401(k) plan and 31,000,000 shares through single-member LLCs whose sole member is a revocable trust he controls.
Danaher expanded its board to 13 members and appointed Daniel L. Comas and Robert M. Hershberg effective October 9, 2026. Comas is a former Danaher executive, and Hershberg formerly served as president, CEO and chairman of HilleVax. Both will serve until the next annual meeting and until successors are duly elected and qualified; Hershberg also joins the Science and Technology Committee.
Comas’s consulting agreement for strategic advice ended September 30, 2026; he earned $525,000 in 2025 and $393,750 in 2026 for those services. Director Alan G. Spoon will retire at the 2027 annual meeting and will not stand for re-election; Danaher said his decision was not due to a disagreement with the company. On October 9, 2026, Steven M. Rales, Chairman of the Board and co-founder, and Mitchell P. Rales, Chairman of the Executive Committee and co-founder, each waived for no consideration Founder RSUs covering 500,000 shares, granted August 4, 2026.
Danaher lists Shashanka Muppaneni, SVP, Chief Strategy Officer, with 5,901 common shares held directly and 197 unfunded notional shares in its deferred compensation stock fund as of October 1, 2026. His reported employee options cover 6,877 shares at a $207.7600 exercise price, 3,569 at $221.2100, 6,416 at $210.6400 and 36,856 at $194.7800. The first three grants vest 25% on each of the first four grant-date anniversaries; the fourth vests 50% on each of the fourth and fifth anniversaries.
Danaher Corporation (DHR) reports that SVP, Chief HR Officer Heathre T. Moler held 5,356 shares of common stock directly as of October 1, 2026. The report also lists 539.684 unfunded notional shares in Danaher’s deferred compensation stock fund, which convert one-for-one, plus employee stock options. Listed options include 2,404 underlying shares at a $76.47 exercise price, expiring February 24, 2027, and 9,829 underlying shares at a $194.78 exercise price, expiring August 4, 2036; additional option grants and terms are reported.
Danaher Corp. (DHR) is voluntarily withdrawing its 2.100% Senior Notes due 2026 from listing and registration on the New York Stock Exchange. The exchange states that it complied with its rules to strike the class, and the issuer complied with exchange rules and SEC requirements governing voluntary withdrawal.