Fortive Q2 beats with record margins; raises full-year EPS outlook

Fortive Corp

2023-Q2 EPS reported $1.07 revenue$2,987,100,000

Revenue $1.53B (+4.3% YoY, core +5.5%); GAAP EPS $0.59 (+23%), adj. EPS $0.85 (+9%).
Record adj. operating margin 26% (+190bps); GAAP operating margin 19% (+320bps).
Raises FY2023 adj. EPS to $3.36-$3.42 (prior $3.24-$3.34); GAAP EPS $2.38-$2.44.
Q3 guidance: revenue ~$1.5B; adj. EPS $0.82-$0.85; GAAP EPS $0.59-$0.62.
CEO cites strength in Precision Technologies, healthcare recovery, and software/services momentum.

item 2.02 item 9.01

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 the quarter ended June 30, 2023 results: revenue $1.53 billion, net income $209 million, EPS $0.59. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $1.53 billion
Net income: $209 million
EPS: $0.59
Guidance: raised
Result: reported results

Exact text from the filing

Fortive Reports Strong Second Quarter 2023 Results Raises Full Year 2023 Outlook • Q2 revenue of $1.53 billion, up 4.3% with core growth of 5.5% reflecting strong contributions from all segments • Operating margin up 320 basis points to 19%; Record adjusted operating margin of 26%, up 190 basis points • Q2 GAAP EPS of $0.59, up 23%; Adjusted EPS of $0.85, up 9% • Raises 2023 outlook: GAAP EPS of $2.38-$2.44, up 13%-16%; Adjusted EPS of $3.36-$3.42, up 7%-9%

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Source: SEC EDGAR

accession 0001659166-23-000193

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