Danaher Corporation (DHR) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 25, 2026 and Danaher published the results on October 21, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Danaher reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• EPS and net income on this page are from continuing operations, the basis Danaher reports on. Including $28 million of earnings from discontinued operations (a tax benefit tied to returns filed jointly with Veralto and Fortive before their separation), Q3 2026 diluted EPS was $1.75.
• Danaher bought Masimo on June 10, 2026 for about $9.8 billion. Masimo is now part of the Diagnostics segment, and acquisitions added 6.5 points to Danaher's Q3 2026 sales growth.
• Danaher's fiscal Q3 2026 ended September 25, 2026; the year-ago quarter ended September 26, 2025.

Source: Danaher Q3 2026 results, October 21, 2026. Also in the Form 10-Q for the quarter ended September 25, 2026. Figures as reported; checked against the release on November 10, 2026.

How Danaher splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Danaher's Biotechnology revenue was $1.8 billion in Q3 2026, up 1% from $1.8 billion in Q3 2025, 28% of total revenue.
• Danaher's Life Sciences revenue was $1.9 billion in Q3 2026, up 4% from $1.8 billion in Q3 2025, 28% of total revenue.
• Danaher's Diagnostics revenue was $2.9 billion in Q3 2026, up 17% from $2.5 billion in Q3 2025, 44% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Danaher said:

“For the fourth quarter 2026, the Company anticipates that non-GAAP core revenue excluding respiratory revenue will increase in the 4.0% to 5.0% range year-over-year.”

“We expect respiratory revenue to be an approximately 150 basis point headwind, resulting in core revenue growth of approximately 3.0%.”

“For full year 2026, the Company is increasing its full year adjusted diluted net earnings per common share guidance to a range of $8.57 to $8.62 versus previous guidance of $8.45 to $8.60.”

Source: Danaher Q3 2026 release, Oct 21, 2026.

This is the company's own guidance as of Oct 21, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the DHR forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Sales and diluted EPS from continuing operations, each as first reported in that quarter's release.

Danaher's next report is expected around January 27, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 21, 2026

Danaher reports three segments. In Q3 2026 Diagnostics brought in $2,882 million of the $6,554 million total, Life Sciences $1,865 million and Biotechnology $1,807 million. Most of the money is recurring: consumables, services and operating-type leases made up $5,399 million, and equipment sales the other $1,155 million. (Danaher Form 10-Q, Q3 2026, Oct 21, 2026)

Danaher's sales rose 8.5%, but core sales, which exclude acquisitions and currency, rose 3.0%. Acquisitions added 6.5 points, mostly Masimo, the patient monitoring company Danaher bought for about $9.8 billion in June 2026, and refunds of tariffs passed back to customers took 1.0 point off. Excluding respiratory testing, core sales rose 5.5%, with all three segments higher. (Danaher Q3 2026 release, Oct 21, 2026; Danaher Form 10-Q, Q3 2026, Oct 21, 2026)

Diagnostics sales rose 17.0% on the Masimo deal, but core sales rose only 0.5% because demand for respiratory tests in molecular diagnostics fell; excluding respiratory testing the segment grew 7.0%. Diagnostics prices fell 1.0%, which Danaher attributes mainly to China's volume-based procurement program, reimbursement changes and sales promotions. (Danaher Form 10-Q, Q3 2026, Oct 21, 2026)

Biotechnology core sales rose 5.0% and Life Sciences 4.5%. In Biotechnology, core sales of the bioprocessing business grew toward the upper end of mid-single digits on consumables demand, while the discovery and medical business declined. (Danaher Q3 2026 release, Oct 21, 2026; Danaher Form 10-Q, Q3 2026, Oct 21, 2026)

High-growth markets were about 31% of Danaher's Q3 2026 sales. Sales there rose 15% with core sales up 10%, led by high-single-digit core growth in China, while core sales in developed markets were flat as a decline in North America offset growth in Western Europe. (Danaher Form 10-Q, Q3 2026, Oct 21, 2026)

Danaher's adjusted EPS of $2.11 was well above its GAAP EPS from continuing operations of $1.71 in Q3 2026. The biggest exclusion is amortization of acquisition-related intangible assets, $0.73 a share. Danaher also excluded $0.12 of Masimo acquisition-related items and $0.07 of impairments, and took out a $0.37 discrete tax benefit from the release of reserves for uncertain tax positions after audit settlements. (Danaher Q3 2026 release, Oct 21, 2026)

That $263 million tax benefit left Danaher with an effective tax rate of (6.6)%, against 15.6% a year earlier, and it is the main reason GAAP EPS rose 34.5% while adjusted EPS rose 11.5%. Interest expense rose to $135 million from $67 million after the Masimo financing. (Danaher Form 10-Q, Q3 2026, Oct 21, 2026; Danaher Q3 2026 release, Oct 21, 2026)

Danaher's diluted share count was 706.8 million, against 713.7 million a year earlier. Share repurchases slowed to $894 million in the first nine months of 2026 from $3,088 million in the same period of 2025. (Danaher Q3 2026 release, Oct 21, 2026; Danaher Form 10-Q, Q3 2026, Oct 21, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Danaher gives a quarterly and full-year outlook in its release, in core sales growth and adjusted EPS. For Q4 2026 it expects core revenue excluding respiratory to grow 4.0% to 5.0%, with respiratory a headwind of about 150 basis points, for core growth of about 3.0%. It raised full-year 2026 adjusted EPS guidance to $8.57 to $8.62 from $8.45 to $8.60. (Danaher Q3 2026 release, Oct 21, 2026)

Danaher's release also assumes an effective tax rate of about 17.0% for Q4 and the full year, net interest expense of about $305 million and amortization of about $1.9 billion for the year, and average adjusted diluted shares of about 707 million in Q4. It does not reconcile these forecasts to GAAP. (Danaher Q3 2026 release, Oct 21, 2026)

A consensus figure is the average of the models published by the analysts who cover Danaher, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Danaher's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning DHR is on is DHR a buy or a sell?, what analysts expect next is on the DHR forecast, and what the company does is on the Danaher Corporation (DHR) stock page.

Every number on this page can be traced to a document Danaher published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.