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Fortive
🇺🇸 NYSE:FTV
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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.

Total Revenue
$1.53B
Previous year: $1.46B
+4.3%
EPS
$0.85
Previous year: $0.78
+9.0%
Core Revenue Growth
5.5%
Previous year: 9%
-38.9%
Gross Profit
$905M
Previous year: $834M
+8.6%
Cash and Equivalents
$713M
Previous year: $683M
+4.4%
Free Cash Flow
$300M
Previous year: $276M
+8.7%
Total Assets
$15.7B
Previous year: $16.1B
-2.1%

Fortive

Fortive

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.

Company Overview

Full financial data and analysis

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