Fortive Q1 revenue $1.46B (+6% YoY), adj EPS $0.75 (+7%); raises FY guidance low end

Fortive Corp

2023-Q1 EPS reported $0.49 revenue$1,460,700,000

Q1 revenue $1.46B (+6% YoY, +9% core); GAAP EPS $0.49, adj EPS $0.75 (+7%).
Raises low end of FY2023 guidance: adj EPS $3.29-$3.40 (up 4%-8%); GAAP EPS $2.33-$2.44.
Q2 guidance: revenue ~$1.5B, adj EPS $0.78-$0.82, GAAP EPS $0.52-$0.56.
Pat Murphy (AHS President) retiring by Dec 31; Tami Newcombe to lead both PT and AHS segments from July 1.
Andrew McCauley promoted to Group President, Sensing Technologies effective July 1, 2023.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Patrick Murphy

President and CEO of the Advanced Healthcare Solutions segment

FTV · Fortive Corp

Effective: 2023-07-01
Successor: Tamara S. Newcombe
Filed: April 26, 2023, 7:59 PM ET

On April 24, 2023, Patrick Murphy, the President and CEO of the Advanced Healthcare Solutions segment, notified the Company that he will retire from the Company by December 31, 2023, with transition from his current position effective July 1, 2023.

Role change

Tamara S. Newcombe

President and CEO of the Precision Technologies and Advanced Healthcare Solutions segments

FTV · Fortive Corp

Effective: 2023-07-01
Filed: April 26, 2023, 7:59 PM ET

Effective July 1, 2023, Tamara S. Newcombe, who is currently the President and CEO of the Precision Technologies segment of the Company, will expand her leadership responsibilities to include the Advanced Healthcare Solutions segment as the President and CEO of the Precision Technologies and Advanced Healthcare Solutions segments.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fortive Corp reported first quarter 2023 results: revenue $1.46 billion, net income $174 million, EPS $0.49. Guidance raised.

Period: first quarter 2023
Revenue: $1.46 billion
Net income: $174 million
EPS: $0.49
Guidance: raised
Result: reported results

Exact text from the filing

For the first quarter, net earnings were $174 million. For the same period, adjusted net earnings were $267 million. Diluted net earnings per share for the first quarter was $0.49. For the same period, adjusted diluted net earnings per share was $0.75. For the first quarter, revenues increased 6% year-over-year to $1.46 billion

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Patrick Murphy retired as President and CEO of the Advanced Healthcare Solutions segment at Fortive Corp.

Action: retired
Role: President and CEO of the Advanced Healthcare Solutions segment

Exact text from the filing

On April 24, 2023, Patrick Murphy, the President and CEO of the Advanced Healthcare Solutions segment, notified the Company that he will retire from the Company by December 31, 2023, with transition from his current position effective July 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Tamara S. Newcombe changed role as President and CEO of the Precision Technologies and Advanced Healthcare Solutions segments at Fortive Corp.

Action: expanded
Role: President and CEO of the Precision Technologies and Advanced Healthcare Solutions segments

Exact text from the filing

Effective July 1, 2023, Tamara S. Newcombe, who is currently the President and CEO of the Precision Technologies segment of the Company, will expand her leadership responsibilities to include the Advanced Healthcare Solutions segment as the President and CEO of the Precision Technologies and Advanced Healthcare Solutions segments.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Fortive Corp filing history →

Source: SEC EDGAR

accession 0001659166-23-000147

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