Fortive ( (FTV) ) has realeased its Q3 earnings. Here is a breakdown of the information Fortive presented to its investors.
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Fortive Corporation is a key player in providing essential technologies for connected workflow solutions across various end-markets, with strategic segments in Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. Based in Everett, Washington, it boasts a strong global presence with over 18,000 employees.
Fortive Corporation reported a robust financial performance for the third quarter of 2024, exceeding its guidance with significant earnings and cash flow. The company experienced consistent revenue growth of 3% year-over-year, reaching $1.54 billion, and improved operating profit margins.
Key financial highlights include an operating profit margin of 19% and an adjusted operating profit margin of 27%, marking a 90 basis point increase year-over-year. The GAAP diluted EPS stood at $0.63, while the adjusted diluted EPS was $0.97, reflecting a 14% increase from the previous year. The company also reported a strong free cash flow of $431 million, up 12% year-over-year.
Looking forward, Fortive has raised its full-year 2024 outlook, projecting a GAAP diluted EPS of $2.47 to $2.50 and an adjusted diluted EPS of $3.84 to $3.87. The company is also preparing for a strategic separation into two independent, publicly traded companies, anticipated to enhance value for stakeholders by late 2025.
Fortive remains optimistic about its growth prospects, leveraging its portfolio’s strengths for sustained profitability and planning a strategic separation to unlock further value. The management maintains a balanced outlook on market demands, positioning itself for continued success in 2025 and beyond.
