Fortive Corp reports results for the quarter ended in March - Earnings Summary

Fortive

24/04/2024 14:31

* Fortive Corp  FTV.N  reported quarterly adjusted earnings
of 83
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 75
cents.  The mean expectation of sixteen analysts for the quarter
was for earnings of 79 cents per share. Wall Street expected
results to range from 76 cents to 82 cents per share.
    * Revenue rose 4.4% to $1.52 billion from a year ago;
analysts
expected $1.53 billion. 
    * Fortive Corp's reported EPS for the quarter was 58 cents​.
    * The company reported quarterly net income of $207.4
million.
    * Fortive Corp shares had fallen by 6.2% this quarter and
gained 9.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 12 "strong buy" or "buy," 9
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for Fortive Corp is
$92.00 
This summary was machine generated from LSEG data April 24 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.79           0.83           Beat
 Dec. 31 2023      0.94           0.98           Beat
 Sep. 30 2023      0.85           0.85           Met
 Jun. 30 2023      0.81           0.85           Beat