Fortive spins off Ralliant (1:3 ratio), names new CEO; Q2 revenue seen flat to slightly down

Fortive Corp

Spin-off effective June 28, 2025; shareholders received 1 RAL share per 3 FTV shares; about 113M RAL shares distributed.
Olumide Soroye appointed President, CEO and Director effective June 28, succeeding James Lico (retired, remains senior advisor through year-end).
Estimated Q2 (ended June 28) revenue and core revenue flat to slightly down; adjusted EPS near mid-point of prior guidance; tariff/policy headwinds cited.
Ralliant borrowed $1.15B under term loans to pay Fortive; Fortive to use proceeds for debt repayment and stock repurchase.
Pro forma net earnings for new Fortive: $112.6M (Q1 2025) vs $171.9M as reported, after Ralliant elimination.

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