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Danaher Expects Q1 2021 Revenue Growth Above Previous Guidance

NEW YORK – Danaher announced on Tuesday that it expects first quarter revenue growth to be above the high-end of the firm's previously announced guidance.

For the quarter ended April 2, Danaher expects revenues to grow approximately 57 percent year over year, which would translate to be around $6.81 billion. This would top the average Wall Street estimate of $6.13 billion.

The Washington D.C.-based conglomerate added that non-GAAP core revenue growth including Cytiva is expected to approximately 29 percent year over year. Danaher previously announced guidance expected core revenue growth in the mid to high teens range. Danaher acquired Cytiva, formerly General Electric's biopharma business, in March of last year.  

The higher performance was "broad-based across the portfolio," Danaher said in a statement, with particular strength in the Life Sciences and Diagnostics businesses.

Barclays analyst Luke Sergott wrote in a note Tuesday morning that Danaher and its subsidiary Cepheid, which has provided much of the COVID-19 testing revenue, are more in the point-of-care setting, making them "more insulated from potential declines in high-throughput reference labs volumes" due to vaccine rollouts.

The company will hold its earnings call for the quarter on April 22.

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