Danaher Clocks Q1 Sales Jump Of 12%, COVID-19-Related Restrictions In China To Impact Q2 Sales - Danaher (NYSE:DHR)

Danaher Corp DHR logged Q1 FY22 adjusted EPS of $2.76, up 9.5% Y/Y, surpassing the estimate of $2.66.
Sales increased 12% to $7.7 billion, with 12% non-GAAP core and 8.0% non-GAAP base business core revenue growth, beating the $7.54 billion estimate.
Operating cash flow reached $2 billion. Non-GAAP free cash flow reached $1.7 billion.
The gross margin declined to 61.2% from 62% a year ago, and the operating margin also compressed from 29.1% to $28.3%.
Rainer Blair, President & CEO, stated, "We had a good start to the year with results exceeding our initial expectations. Our team successfully navigated a dynamic environment to deliver double digit core revenue growth, approximately 10% adjusted earnings per share growth and $2.0 billion of operating cash flow, despite difficult prior year comparisons."
Outlook: Danaher expects Q2 FY22 non-GAAP base business core revenue growth in mid-single-digit percent, including an approximately 200 to 300 basis point headwind from the COVID-19 related shutdowns in China.
For FY22, the company reaffirms non-GAAP base business core revenue growth outlook in high-single-digit percentages.
Price Action: DHR shares closed 0.11% higher at $280.8 during after-hours trading on Wednesday.