Danaher Corporation DHR has reported impressive results for the fourth quarter of 2021. The company’s earnings surpassed the Zacks Consensus Estimate by 7.6%. Its sales beat in the quarter was 4.38%.In the reported quarter, the company’s adjusted earnings were $2.69 per share, surpassing the Zacks Consensus Estimate of $2.50. The bottom line increased 29.3% from the year-ago quarter’s figure of $2.08, mainly on sales growth and an improved margin profile. High costs and expenses played spoilsports in the quarter.For 2021, the company’s adjusted earnings were $10.05 per share, increasing 59.3% from the previous year’s figure of $6.31. Also, the bottom line surpassed the Zacks Consensus estimate of $9.86.Revenue DetailsIn the quarter under review, the company’s net sales were $8,148 million, reflecting year-over-year growth of 20.5%. Results were driven by solid segmental performances. Organic sales in the quarter increased 19.5% and acquisitions/divestments boosted sales by 2%. Foreign-currency translations left an adverse impact of 1% on the quarterly sales.The pandemic-induced demand for products boosted sales by 9.5% and base business core sales (excludes the impacts of COVID-19 testing revenues) growth was 10% in the quarter. The company’s top line surpassed the Zacks Consensus Estimate of $7,806 million.It reports net sales under three segments, namely Life Sciences, Diagnostics and Environmental & Applied Solutions. The segmental information is briefly discussed below:Revenues for the Life Sciences segment totaled $4,046 million, rising 20.5% year over year. Acquisitions/divestments contributed 4.5% to sales growth, while foreign-currency translations lowered sales by 1%. Core sales grew 17% year over year.Revenues in the Diagnostics segment grossed $2,881 million, increasing 29.4% year over year. The improvement came on the back of a 29% rise in core sales and a 1% gain from acquisitions. Foreign currency translation had an adverse impact of 0.5%.Revenues in the Environmental & Applied Solutions segment totaled $1,221 million, up 4.2% year over year. Core sales expanded 7.5% and foreign currency translation had a negative impact of 0.5%. Acquisitions lowered sales by 3%.For 2021, the company’s revenues totaled $29.5 billion, reflecting an increase of 32.2% from the previous year. Also, the top line surpassed the Zacks Consensus Estimate of $29.1 billion.Margin ProfileIn the quarter under review, Danaher’s cost of sales increased 14.2% year over year to $3,205 million. It represented 39.3% of net sales compared with 41.5% in the year-ago quarter. The gross profit of $4,943 million grew 25% year over year, while the margin increased 220 basis points (bps) year over year to 60.7%.Selling, general and administrative expenses of $2,294 million witnessed a year-over-year increase of 17.2%. As a percentage of net sales, it represented 28.2% compared with 29% in the year-ago quarter. Research and development expenses were $495 million, which increased 25% year over year. It represented 6.1% of net sales compared with 5.9% in the year-ago quarter.Operating income in the quarter under review increased 34.3% year over year to $2,154 million. The operating margin increased 270 bps to 26.4% in the quarter. Interest expenses in the quarter totaled $56 million, down 22.2% from the year-ago quarter.Balance Sheet and Cash FlowExiting the fourth quarter, Danaher had cash and cash equivalents of $2,586 million, up1.3% from $2,552 million at the end of the last reported quarter. The long-term debt balance decreased 6% sequentially to $22,168 million.In 2021, the company repaid $1,186 million of borrowings with a maturity of more than 90 days. Net proceeds from borrowings (with a maturity of less than 90 days) totaled $2,265 million in the period.Danaher generated net cash of $8,358 million from operating activities (continuing operations) in 2021, reflecting a year-over-year increase of 34.5%. Capital used for purchasing property, plant and equipment totaled $1,294 million compared with $791 million in the previous year. Free cash flow (continuing operations) was $7,077 million, mirroring growth of 30.4% from the previous year.The company paid out dividends worth $742 million to its shareholders in 2021, up 20.7% from the previous year.OutlookDanaher expects year-over-year core revenue growth of 10% for the first quarter of 2022 and mid-single digits for 2022.The COVID-related impacts are anticipated to boost sales in low-single digits in the first quarter. The same is expected to adversely impact sales in the low-single digits in 2022.Base business core sales growth is predicted to be in the high-single digitsboth for the first quarter and 2022.Danaher Corporation Price, Consensus and EPS Surprise Danaher Corporation price-consensus-eps-surprise-chart | Danaher Corporation QuoteZacks Rank & Other Important Earnings ReleasesWith a market capitalization of $190.6 billion, Danaher currently carries a Zacks Rank #2 (Buy).Three other companies from the industry to soon report results are discussed below: Carlisle Companies Incorporated CSL will release fourth-quarter results on Feb 10, after market close. It presently carries a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The company reported better-than-expected results in the last four quarters, with an average earnings surprise of 38.89%. In the past 60 days, the Zacks Consensus Estimate for Carlisle’s fourth-quarter earnings has been revised down 0.4%. ITT Inc. ITT is slated to release fourth-quarter results on Feb 9, after market close. It presently carries a Zacks Rank #2.In the last four quarters, the company recorded better-than-expected results. It has a trailing four-quarter earnings surprise of +10.63%, on average. The Zacks Consensus Estimate for ITT’s fourth-quarter earnings has been unchanged in the past 60 days. Honeywell International Inc. HON presently carries a Zacks Rank #4 (Sell). The company is slated to report fourth-quarter 2021 results on Feb 3, before market open.With an earnings beat on all occasions, Honeywell’s earnings surprise for the last four quarters is 3.70%, on average. The Zacks Consensus Estimate for HON’s fourth-quarter earnings has decreased 1% in the past 60 days.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Honeywell International Inc. (HON): Free Stock Analysis Report Danaher Corporation (DHR): Free Stock Analysis Report ITT Inc. (ITT): Free Stock Analysis Report Carlisle Companies Incorporated (CSL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research