Fortive Q2 2022 Earnings Report
Key Takeaways
Fortive Corporation reported strong second-quarter results, exceeding expectations with 11% revenue growth and a 9% core revenue increase. The company's adjusted earnings per share rose by 18%, driven by margin expansion and cash flow generation. Fortive narrowed its full-year revenue growth outlook to 10-11% and raised its core growth outlook to 8-9.5%.
Delivered outstanding financial performance despite continued COVID, supply chain and foreign exchange headwinds
Q2 revenue growth of 11%, up 9% core, ahead of expectations, reflects effective mitigation of expected Shanghai lockdown impact
Continued demand for workflow solutions yields high single-digit hardware orders and software annual recurring revenue growth in Q2
Flat Q2 GAAP diluted net earnings per share, up 18% adjusted diluted earnings per share
Fortive
Fortive
Forward Guidance
For the third quarter of 2022, Fortive anticipates revenue of $1.43 billion to $1.46 billion, diluted net earnings per share from continuing operations to be in the range of $0.49 to $0.53 and adjusted diluted net earnings per share from continuing operations to be in the range of $0.74 to $0.77. For the full year 2022, Fortive narrows its revenue outlook to $5.78 billion to $5.83 billion, raising core growth at the midpoint, with anticipated full year diluted net earnings per share from continuing operations to be in the range of $2.03 to $2.09 and adjusted diluted net earnings per share from continuing operations to be in the range of $3.07 to $3.13, tightening the ranges previously provided on its first quarter earnings call.