Danaher Beats Q3, Warns of China Headwind

Danaher beat Q3 expectations with adjusted EPS of $1.89 (vs. roughly $1.72 estimate) and revenue of $6.05 billion. The company reiterated full‑year adjusted EPS guidance of about $7.70–$7.80 but set Q4 revenue guidance of $6.70 billion, below analysts’ estimates. Management cited strength in diagnostics, bioprocessing, better‑than‑expected Cepheid respiratory revenue and rising pharma customer spend, which helped margins (operating margin ~19.1%, free‑cash‑flow margin ~22.6%). Offsetting those gains, Danaher said China remains a weakness and warned of a $75–$100 million diagnostics headwind next year amid procurement and reimbursement changes, and noted uncertainty in academic and government demand. Shares rose more than 7% after the results.