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Jun 30, 2023
Fortive Q2 2023 Earnings Report
Fortive reported a strong second quarter with revenue up 4.3% and core growth of 5.5%, driven by contributions from all segments. Operating margin increased by 320 basis points, reaching 19%, and adjusted operating margin hit a record 26%, up 190 basis points. GAAP EPS rose by 23% to $0.59, while adjusted EPS increased by 9% to $0.85. The company raised its full-year 2023 outlook for both GAAP and adjusted EPS.
Key Takeaways
Fortive reported strong Q2 2023 results, with revenue growth, improved margins, and increased EPS. The company raised its full-year 2023 outlook, reflecting confidence in its portfolio and execution.
Q2 revenue increased by 4.3% to $1.53 billion, with core growth of 5.5%.
Operating margin rose by 320 basis points to 19%, with a record adjusted operating margin of 26%.
GAAP EPS increased by 23% to $0.59, and adjusted EPS rose by 9% to $0.85.
The company raised its full-year 2023 outlook for GAAP EPS to $2.38-$2.44 and adjusted EPS to $3.36-$3.42.
Revenue by Segment
Forward Guidance
For the third quarter of 2023, Fortive expects revenue of approximately $1.5 billion, diluted net earnings per share of $0.59 to $0.62, and adjusted diluted net earnings per share of $0.82 to $0.85. For the full year 2023, the company anticipates revenue of approximately $6.1 billion, diluted net earnings per share of $2.38 to $2.44, and adjusted diluted net earnings per share of $3.36 to $3.42.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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