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Mar 29, 2024
Fortive Q1 2024 Earnings Report
Fortive's first quarter performance in 2024 exceeded expectations across all segments, driven by the company's focus on innovation and execution.
Key Takeaways
Fortive reported a strong first quarter in 2024, with total and core revenue growth of 4% and 3% respectively. The company's GAAP diluted EPS was $0.58, up 18%, and adjusted diluted EPS was $0.83, up 11%. Fortive raised its full year 2024 outlook, anticipating continued growth in earnings and free cash flow.
Strategy to build a more durable growth company is working, evidenced by better than expected Q1 performance in all segments
Total and core revenue growth of 4% and 3% respectively, with record margin performance driven by FBS-enabled innovation and relentless focus on execution
GAAP diluted EPS of $0.58, up 18%; adjusted diluted EPS of $0.83, up 11%; reported operating cash flow of $257 million and free cash flow of $230 million, up 54%
Raises 2024 outlook; GAAP diluted EPS of $2.61 to $2.70, year-over-year increase of 7% to 11%; full-year 2024 adjusted diluted EPS of $3.77 to $3.86, year-over-year increase of 10% to 13%
Revenue by Segment
Forward Guidance
For the second quarter of 2024, Fortive anticipates revenue of approximately $1.6 billion, diluted net earnings per share of $0.57 to $0.60 and adjusted diluted net earnings per share of $0.90 to $0.93. For the full year 2024, Fortive anticipates revenue of approximately $6.35 billion to $6.43 billion, diluted net earnings per share of $2.61 to $2.70, and adjusted diluted net earnings per share of $3.77 to $3.86.
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
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