Fortive Corporation Reports Strong Q3 Earnings

EVERETT, Wash. – Fortive Corporation (NYSE: FTIV) announced better-than-expected third quarter earnings on Wednesday, showcasing robust performance across its business segments. The company also increased its full-year earnings guidance.

Fortive reported adjusted earnings per share of $0.97 for Q3, surpassing analyst estimates of $0.93. Revenue reached $1.54 billion, slightly below the consensus forecast of $1.55 billion, but showed a 3% year-over-year increase.

James A. Lico, President and CEO, stated, "Fortive generated strong operating performance in the third quarter, with better than expected earnings and free cash flow."

The company indicated a 1.1% core revenue growth in Q3, with its Intelligent Operating Solutions and Advanced Healthcare Solutions segments experiencing substantial recurring revenue growth. Precision Technologies recorded double-digit order growth.

Fortive has raised its full-year 2024 adjusted EPS guidance to $3.84-$3.87, up from a previous forecast of $3.82 at the midpoint. The anticipated full-year revenue is now in the range of $6.24-$6.26 billion.

For Q4, Fortive projects adjusted EPS of $1.11-$1.14 on revenue of $1.63-$1.65 billion.

Additionally, the company is on track for its planned separation into two independent public companies by Q4 2025, pending final approvals.

Fortive's adjusted operating profit margin expanded by 90 basis points year-over-year to 26.8% in Q3, and free cash flow rose 12.4% to $431.2 million.

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