Loading...
•
Mar 31, 2023
Fortive Q1 2023 Earnings Report
Fortive reported strong first quarter results, exceeding expectations for revenue growth, margin expansion, and earnings performance. The company raised its full year 2023 outlook and announced an expansion of Tami Newcombe’s responsibilities to include the Advanced Healthcare Solutions segment.
Key Takeaways
Fortive Corporation announced strong financial results for the first quarter of 2023, with revenue increasing by 6% year-over-year to $1.46 billion, including 9% core revenue growth. GAAP EPS was $0.49, and adjusted EPS was $0.75, up 7%. The company has raised the low end of its full-year 2023 guidance, with anticipated GAAP EPS of $2.33-$2.44 and adjusted EPS of $3.29-$3.40.
Q1 revenue growth of 6%, with 9% core revenue growth, reflecting stronger than expected demand.
Revenue growth, margin expansion, and earnings performance exceeded expectations.
Q1 GAAP EPS of $0.49 includes $0.04 of expense to fund discrete productivity initiatives; Adjusted EPS of $0.75, up 7%.
Raised low end of 2023 outlook: GAAP EPS of $2.33-$2.44, Up 11%-16%; Adjusted EPS of $3.29-$3.40, up 4%-8%.
Revenue by Segment
Forward Guidance
For the second quarter of 2023, Fortive anticipates revenue of approximately $1.5 billion, diluted net earnings per share of $0.52 to $0.56 and adjusted diluted net earnings per share of $0.78 to $0.82. For the full year 2023, Fortive anticipates revenue of $6.0 billion to $6.1 billion, diluted net earnings per share of $2.33 to $2.44, and adjusted diluted net earnings per share of $3.29 to $3.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...