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Danaher Corporation (NYSE:DHR), a prominent $149.6 billion market cap player in the Life Sciences Tools & Services industry, announced today the appointment of Charles W. Lamanna to its Board of Directors. According to InvestingPro data, the company maintains strong financial health with an impressive Altman Z-Score of 8.9. Lamanna’s term will extend until the 2025 annual meeting of shareholders, where he will also serve on the Science & Technology Committee. As a non-employee director, Lamanna will receive compensation consistent with other non-employee directors, including an annual equity award.
Lamanna’s appointment was confirmed by the Board on Thursday, and he has been deemed independent according to the New York Stock Exchange’s listing standards. There is no reported arrangement or understanding between Lamanna and any other persons influencing his selection, nor are there any transactions involving Lamanna that require disclosure under federal regulations.
Alongside this appointment, Danaher’s Board has amended and restated the company’s 2007 Omnibus Incentive Plan. The amendment ensures that upon an employee’s death or disability, all unvested stock options and restricted stock units will fully vest. Additionally, for performance stock units (PSUs) where death or disability occurs before the performance period ends, the target number of shares and related dividend equivalent rights will be granted to the participant or their estate.
The changes to the incentive plan are detailed in the 8-K filing by Danaher and are designed to provide clarity and security for participants’ beneficiaries in cases of untimely death or disability.
Investors and interested parties can refer to the full text of the amended 2007 Omnibus Incentive Plan for further details, as it is incorporated by reference in the SEC filing.
This announcement is based on information found in the SEC filing by Danaher Corporation.
In other recent news, Danaher Corporation reported its fourth-quarter 2024 earnings, where revenue exceeded expectations, reaching $6.54 billion against a forecast of $6.39 billion. However, the company slightly missed its earnings per share (EPS) projection, posting $2.14 compared to the anticipated $2.15. Despite the minor EPS miss, the revenue beat reflects Danaher’s robust performance in its diagnostics and life sciences segments. In addition to these financial results, Danaher announced an 18.5% increase in its quarterly cash dividend, raising it from $0.27 to $0.32 per share. This move underscores the company’s confidence in its financial health and its commitment to enhancing shareholder value. Analysts from firms such as TD Cowen and Bank of America have inquired about the company’s guidance and strategic direction, noting Danaher’s continued focus on innovation and strategic acquisitions. Looking ahead, Danaher projects a 3% core revenue growth for 2025, with potential headwinds from currency fluctuations. The company remains optimistic about its long-term growth, supported by its strategic positioning and ongoing investments in innovation.
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