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Danaher (DHR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 21, 2026
Danaher (DHR) reported revenue of $6.6B for the third quarter 2026 (Q3 2026), +8% from a year earlier and +5% from the quarter before. Operating margin was 19.0%, net earnings $1.2B (18.8% of revenue).
Danaher, Q3 2026: revenue $6.6B (+8% year over year), operating margin 19.0%, net earnings $1.2B, operating cash flow $1.9B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.6B | +5% | +8% |
| Gross profit | $3.8B | +6% | +9% |
| Operating profit | $1.2B | +10% | +8% |
| Net earnings | $1.2B | +42% | +36% |
| Operating cash flow | $1.9B | +23% | +13% |
| Free cash flow | $1.6B | +29% | +19% |
What changed
Revenue was $6.6B in Q3 2026, up 8% year over year and up 5% from the previous quarter. Recurring revenue was the largest line at 82% of revenue. Recurring revenue added $0.38B year over year (up 8%), 76% of the total change.
Gross margin was 58.5%, up 0.3 points from Q3 2025. Operating profit was $1.2B, a 19.0% margin (down 0.1 points year over year). Of the extra revenue versus Q3 2025, 18% reached operating profit, below the 19% margin then. Operating expenses grew 9% against revenue growth of 8%. The fastest-growing cost line was Research & development (+15%). Net earnings were $1.2B, up 36% year over year. The effective tax rate was -6.5%.
Operating cash flow was $1.9B (up 13% year over year), 153% of net earnings. Non-cash charges added back $0.72B of depreciation and amortization and $0.12B of share-based compensation. Working capital and other items used $0.18B. Capital expenditures of $0.26B left free cash flow of $1.6B.
Questions
What was Danaher's revenue in the third quarter 2026?
Danaher (DHR) reported revenue of $6.6B for the third quarter 2026 (Q3 2026), +8% from a year earlier and +5% from the quarter before.
Was Danaher profitable in the third quarter 2026?
Operating profit was $1.2B (19.0% of revenue) and net earnings $1.2B.
Source: Danaher 10-Q on SEC EDGAR.