By Kimberly Chin
Danaher has cut its full-year 2019 guidance to reflect the dilution regarding its equity offering to fund its $21.4 billion acquisition of General Electric Co.'s (GE) GE BioPharma.
For the year, Danaher now anticipates earnings of $3.34 to $3.42 a share, down from its previous forecast of $3.85 to $3.95. It expects adjusted profit of $4.72 to $4.80, a cut from its prior guidance of $4.75 to $4.85. Analysts polled by Refinitiv were expecting full-year earnings of $3.98 a share and adjusted earnings of $4.79 a share.
For the current quarter, the company projects earnings between 89 cents and 92 cents a share and adjusted earnings between $1.13 and $1.16 a share. Analysts expect earnings of 99 cents a share and adjusted earnings of $1.19 a share for the second quarter.
Shares of Danaher, which has gained 21% for the year, were mostly flat in premarket trading on low trading volumes.
Write to Kimberly Chin at firstname.lastname@example.org