Fortive Q1 2022 Earnings Report
Key Takeaways
Fortive Corporation announced strong first quarter 2022 results, with revenue growth of 9% and core revenue growth of 5%. The company's performance exceeded expectations despite COVID and supply chain challenges. Demand for software-enabled workflow solutions yielded mid-teens software growth. Fortive is raising the low end of its full-year 2022 outlook.
Q1 revenue growth of 9%, 5% core, reflecting continued strong customer demand
Performance exceeded expectations despite continued COVID and supply chain challenges
Demand for software-enabled workflow solutions yielded mid-teens software growth
Raises low end of 2022 outlook: GAAP EPS of $2.07-$2.16, Up 25%-31%, and Adjusted EPS of $3.04-$3.13, Up 11-14%
Fortive
Fortive
Forward Guidance
For the second quarter of 2022, Fortive anticipates revenue of $1.39 billion to $1.43 billion, diluted net earnings per share from continuing operations to be in the range of $0.44 to $0.47 and adjusted diluted net earnings per share from continuing operations to be in the range of $0.70 to $0.73. For the full year 2022, Fortive now anticipates revenue of $5.77 billion to $5.88 billion, diluted net earnings per share from continuing operations to be in the range of $2.07 to $2.16 and adjusted diluted net earnings per share from continuing operations to be in the range of $3.04 to $3.13.
Positive Outlook
- Revenue of $1.39 billion to $1.43 billion for Q2 2022
- Q2 2022 diluted net earnings per share from continuing operations to be in the range of $0.44 to $0.47
- Q2 2022 adjusted diluted net earnings per share from continuing operations to be in the range of $0.70 to $0.73
- Full year 2022 revenue of $5.77 billion to $5.88 billion
- Full year 2022 diluted net earnings per share from continuing operations to be in the range of $2.07 to $2.16
Challenges Ahead
- $40 million of impact to core revenue from Covid-related shutdowns in Shanghai for Q2 2022
- Supply chain constraints
- Covid-related lockdowns
- Uncertainty in economic conditions
- Contractions or lower growth rates and cyclicality of markets