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Apr 01, 2022
Fortive Q1 2022 Earnings Report
Reported strong first quarter results and raised full year outlook.
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
Fortive Revenue by Segment
Revenue by Segment
Intelligent Ops Revenue
CapyFin.comPrecision Tech Revenue
CapyFin.comHealthcare Solutions Revenue
CapyFin.com 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
Revenue & Expenses
Visualization of income flow from segment revenue to net income