Industrial products maker Fortive lifts profit view on strong automation business
Industrial products maker Fortive lifts profit view on strong automation business July 29 (Reuters) - Fortive FTV.N raised its 2026 adjusted profit forecast on Wednesday, helped by resilient demand for its industrial automation unit.
A growing number of businesses investing heavily into optimizing their industrial operations has fueled demand for building technology, benefiting companies such as Fortive.
Fortive makes industrial measurement equipment and software-enabled automation used in various industries.
Here are some more details:
The Everett, Washington-based company expects annual adjusted earnings in the range of $2.95 to $3.05 per share, compared with its prior forecast of $2.90 to $3.00 per share.
Analysts on an average expected $3 per share, according to data compiled by LSEG.
It reported adjusted profit of 74 cents per share for the quarter ended July 3, beating analysts' estimate of 71 cents apiece.
Revenue for the second quarter rose about 8% to $1.1 billion from a year earlier, compared with Wall Street estimates of $1.07 billion.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Devika Syamnath)
((Anshuman.Tripathy@thomsonreuters.com;))