Danaher (DHR) Q3 2026 Earnings: Guidance Raised After Revenue Growth of 8.5%, Plus an NVIDIA Lab Partnership

Danaher reported third-quarter 2026 results on October 21. The release shows revenue of $6.6 billion, up 8.5%, with core revenue excluding respiratory-related sales up 5.5% and total core revenue up 3.0%.

Earnings and guidance#

Net earnings were $1.2 billion, or $1.71 per diluted share, up 34.5%. Adjusted EPS grew 11.5% to $2.11. Operating cash flow was $1.9 billion and free cash flow $1.6 billion. New chief executive Julie Sawyer Montgomery said revenue, earnings and cash flow were better than expected and that trends across end markets were improving. For the full year, Danaher raised adjusted EPS guidance to $8.57 to $8.62 from $8.45 to $8.60; it expects fourth-quarter core growth of about 3.0% after a roughly 150 basis point respiratory headwind.

The NVIDIA collaboration#

On October 14 Danaher said it would pair its instruments, automation and lab software with NVIDIA accelerated computing and AI, according to trade coverage of the announcement. The work starts with a select group of priority instruments, uses NVIDIA DGX Spark hardware at the edge and its BioNeMo models, and aims at a loop in which experiments inform models and models design experiments. No financial terms were given.

What to compare next#

For readers following DHR, the respiratory headwind is fading from the comparisons, which is why core growth excluding it is the cleaner measure. The NVIDIA work is a product announcement without a revenue figure; treat it as context rather than a driver of the raised guidance. NVDA readers should see it as one more customer-facing channel rather than a material contract.

Published October 21, 2026. Informational reporting, not investment advice. Figures come from the company's own release unless stated; forward-looking guidance is management's current forecast and can change.