Fortive Q1 adjusted EPS $0.83, revenue $1.52B both beat; raises FY outlook

Fortive Corp

2024-Q1 EPS reported $0.58 revenue$1,524,500,000

GAAP diluted EPS $0.58 (+18% YoY); adjusted diluted EPS $0.83 (+11% YoY). Revenue $1.52B (+4%, core +3%).
Operating cash flow $257M; free cash flow $230M, up 54% YoY.
Raises full-year 2024 outlook: GAAP EPS $2.61-$2.70 (7-11% growth); adjusted EPS $3.77-$3.86 (10-13% growth).
Q2 2024 guidance: revenue ~$1.6B, adjusted EPS $0.90-$0.93.
All three segments exceeded expectations on core growth, margins, earnings, and FCF.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortive Corp reported the first quarter of 2024 results: revenue $1.52 billion, net income $207 million, EPS $0.58. Guidance raised.

Period: the first quarter of 2024
Revenue: $1.52 billion
Net income: $207 million
EPS: $0.58
Guidance: raised
Result: reported results

Exact text from the filing

For the first quarter, net earnings were $207 million. For the same period, adjusted net earnings were $295 million, which excludes the $63 million gain on sale of property in our Precision Technologies Segment. Diluted net earnings per share for the first quarter was $0.58. For the same period, adjusted diluted net earnings per share was $0.83. For the first quarter, revenues increased 4% year-over-year to $1.52 billion, which included core revenue growth of 3%.

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Source: SEC EDGAR

accession 0001659166-24-000106

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