Danaher Cuts Guidance

Today, Danaher (DHR) pared back its Q4 guidance to a range of $1.03 to $1.10 a share from its previous forecast of $1.17 to $1.25 a share. The CEO said, “Global economic conditions have continued to deteriorate over the last several weeks impacting many of our customers as well as a number of our businesses. In addition, the strengthening of the dollar against other global currencies has created additional headwinds that will negatively impact our financial results.”
As bad as that sounds, the change in guidance is far less than what the rest of the market is experiencing. The projections for 2009 earnings at the start of 2008 were way off the mark. I was impressed to see shares of Danaher rally today on its lower forecast. The stock is still a very good buy.

Posted by on December 8th, 2008 at 8:46 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.