Life sciences and medical diagnostics company Danaher (DHR) delivered a second-quarter earnings beat on Tuesday, but lowered its outlook for the year. When excluding the impact of Covid-related tests and products, Danaher realized base-business core sales growth of 2%. As a result, management was once again forced to downwardly revise their sales growth outlook for the year. We predict a bioprocessing bottom this year, early next year at the very latest, setting us for a rebound in organic revenue growth. This updated outlook represents a downward revision from the high-single-digit percentage decline previously expected on a core basis and the mid-single-digit percentage growth previously expected for the base business.

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Persons: Danaher, Cash, Bioprocessing, That's, Sartorius, Cepheid, Jim Cramer's, Jim Cramer, Jim, Marisol Darge, Robert McCabe, Hyoung Chang Organizations: Revenue, Management, Wall, Biotechnology, pharma, CNBC, Kaiser Permanente Arapahoe Medical, Getty Locations: DHR, China, Base, Centennial , Colorado, Denver